Vancouver, British Columbia… Starcore International Mines Ltd. (“Starcore” or the “Company”) announces that its Board of Directors has approved the adoption of a Shareholder Rights Plan (the “Rights Plan”). The Rights Plan helps to ensure the fair treatment of Starcore’s shareholders in the event of any transaction involving a change of control of the Company.
The Rights Plan provides Starcore’s board and shareholders with additional time to evaluate any unsolicited takeover bids and provides the board with adequate time, where appropriate, to seek out alternatives to maximize shareholder value. The Rights Plan is effective immediately and is subject to acceptance by the Toronto Stock Exchange and approval by shareholders at an extraordinary general meeting of Starcore shareholders to be held on June 3, 2011.
The Rights Plan has not been instituted in response to any proposal to acquire control of Starcore, nor is Starcore aware of any such proposals. A copy of the Rights Plan is included with the information circular sent out to shareholders and can be viewed on SEDAR at www.sedar.com.
For more information on the Company visit our website at www.starcore.com.
ON BEHALF OF STARCORE INTERNATIONAL
Signed “Robert Eadie”
Robert Eadie, Chief Executive Officer
FOR FURTHER INFORMATION PLEASE CONTACT: Robert Eadie
Toll Free: 1-866-602-4935 / Facsimile: 1-604-602-4936
The Toronto Stock Exchange has not reviewed nor does it accept responsibility for the adequacy or accuracy of this press release.