Hudson Annoucnces Corporate Updates
Sep 29, 2011
OTC Disclosure News Service
Vancouver, BC, Canada –
HUDSON RESOURCES INC. (the “Company”) – (TSX Venture Exchange “HUD”; OTCQX “HUDRF”) announces that the Company’s shareholders have ratified a shareholder rights plan at the Company’s annual general meeting held on September 27, 2011. This plan replaces the Company’s earlier shareholder rights plan that has expired.
The shareholder rights plan has been adopted to ensure the fair treatment of all shareholders with respect to any takeover bid for the common shares of the Company. It is designed to provide shareholders with sufficient time to properly consider a takeover bid without undue time constraints. In addition, it will provide the board with additional time for review and consideration of any unsolicited takeover bid and, if necessary, for the consideration of alternatives.
This rights plan is not being adopted in response to any proposal to acquire control of the Company.
With respect to the Company’s annual compensation review governing the granting of options, the board of director’s has approved the granting of a total of 1,200,000 incentive stock options to directors, officers and employees of the Company, as per the terms of the stock option plan. The options are exercisable at $0.65 per share for a period of five years, subject to the policies of the TSX Venture Exchange.
ON BEHALF OF THE BOARD OF DIRECTORS
James Tuer, President
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