VANCOUVER,
Feb. 7, 2012 /PRNewswire/ - Gold
Bullion Development Corp. (TSXV:GBB) (OTCPINK:GBBFF) ("Gold
Bullion" or the "Company") is pleased to announce that it has
adopted a shareholder rights plan (the "Rights Plan") designed to
encourage the fair treatment of its shareholders in the event of an
unsolicited take-over bid for shares of the Company. The Rights
Plan is designed to give the Company's shareholders sufficient time
to properly assess a take-over bid without undue pressure and to
give the Company's Board of Directors time to consider alternatives
that allow the Company's shareholders to receive full and fair
value for their common shares.
Pursuant to the Rights Plan, each holder of
record of the outstanding common shares of the Company on
February 1, 2012 will be issued one
right per common share. The rights will trade with the common
shares and be represented by the certificates representing common
shares. Although the Rights Plan is effective immediately, it is
subject to TSX Venture Exchange approval and must be ratified by
the shareholders of the Company within six (6) months of its
adoption. The Rights Plan will be submitted to the shareholders of
the Company for ratification at the Annual General and Special
Meeting of Shareholders to be held April 12,
2012.
A copy of the Rights Plan is posted and
available for viewing on http://sedar.com/.
The Rights Plan is similar to shareholder rights
plans adopted by numerous other Canadian corporations. Neither the
Board nor senior management of the Company is aware of any current,
pending or threatened take-over bid for the Company.
About Gold Bullion Development Corp.
Gold Bullion Development Corp. is a TSX
Venture-listed junior natural resource company focusing on the
exploration and development of its Granada Property near
Rouyn-Noranda, Québec.
For more information on Gold Bullion Development
Corp. (TSXV:GBB) (OTCPINK:GBBFF), visit our web site:
www.GoldBullionDevelopmentCorp.com
Neither the TSX Venture Exchange nor its Regulation Service
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release. This news release may contain
forward-looking statements including but not limited to comments
regarding the timing and content of upcoming work programs,
geological interpretations, receipt of property titles, potential
mineral recovery processes, etc. Forward-looking statements address
future events and conditions and therefore, involve inherent risks
and uncertainties. Actual results may differ materially from those
currently anticipated in such statements.
SOURCE Gold Bullion Development Corp.