DENVER, Dec. 13, 2010 /PRNewswire-FirstCall/ -- Supatcha
Resources Inc. (OTC Bulletin Board: SAEI) ("Supatcha" or the
"Company") announces today that it has received a second
unsolicited bid for 100% of the issued and outstanding shares of
the Company at a price of USD$2.50.
The unsolicited bid was made by JSC Rustamov Group (JRG) of
Moscow, Russia.
Consistent with its fiduciary duties and in consultation with
its financial and legal advisors, Supatcha's Board of Directors
will evaluate the unsolicited bid and will prepare and send a
directors' circular to shareholders regarding the JRG offer in
accordance with applicable securities rules on or before
December 15, 2010. Shareholders are
advised to take no action until the Board provides a formal
response to the unsolicited bid. JRG is an investment firm backed
by the several prominent and wealthy Russian families, based in
Moscow, Russia.
In addition, the previously announced investor conference call
for Monday, December 20, 2010 at
7:00 a.m. Eastern Time remains on
schedule. The Company will be discussing its 2010 third quarter
operations.
To obtain dial-in information and the passcode for the
conference call and the replay contact Michael Berry at Tel: (303) 552.0480 or by
e-mail at mberry@supatcharesources.com. The conference call
is scheduled to begin promptly at its appointed time, and all
participants should be on the line by then.
The company is preparing a series of updates that will be
released in the coming weeks as part of its Investor Awareness
Program. Updates on the company via news releases, the website,
newsletter programs and conference calls will facilitate timely
updates to current and potential investors. Investors are
encouraged to sign onto the company site and register for the
newsletter mailing list, to be included in this program.
http://www.supatcharesources.com/signup.htm
About Supatcha Resources Inc. (OTCBB: SAEI)
Supatcha Resources Inc. is a gold exploration company focused on
acquiring and developing mineral properties in Ukraine. Supatcha is in the final stages of
acquiring two additional gold mining projects, with world-class
potential, in southwestern Ukraine.
Notice Regarding Forward Looking Statements
This news release contains "forward-looking statements", as that
term is defined in Section 27A of the United States Securities Act
of 1933 and Section 21E of the Securities Exchange Act of 1934.
Statements in this press release which are not purely historical
are forward-looking statements and include any statements regarding
beliefs, plans, expectations or intentions regarding the future.
Actual results could differ from those projected in any
forward-looking statements due to numerous factors. Such factors
include, among others, the inherent uncertainties associated with
mineral exploration. We are not in control of metals prices and
these could vary to make development uneconomic. These
forward-looking statements are made as of the date of this news
release, and we assume no obligation to update the forward-looking
statements, or to update the reasons why actual results could
differ from those projected in the forward-looking statements.
Although we believe that the beliefs, plans, expectations and
intentions contained in this press release are reasonable, there
can be no assurance that such beliefs, plans, expectations or
intentions will prove to be accurate. Investors should consult all
of the information set forth herein and should also refer to the
risk factors disclosure outlined in our annual report on Form
10-KSB for the last reported fiscal year, our quarterly reports on
Form 10-QSB and other periodic reports filed from time-to-time with
the Securities and Exchange Commission.
SOURCE Supatcha Resources Inc.