DENVER, Dec. 10, 2010 /PRNewswire-FirstCall/ -- Supatcha
Resources Inc. (OTC Bulletin Board: SAEI) ("Supatcha" or the
"Company") acknowledges the announcement today by OXM Group (OXM)
of its intention to proceed with an unsolicited bid for all of the
issued and outstanding shares of Supatcha at a price of
$1.75 per share.
The Board of Supatcha has commenced the process of engaging
advisors to assist it in responding to this bid. The Board will
make every effort to maximize value for the benefit of Supatcha's
shareholders and will update its shareholders from time to time as
this development progresses. Shareholders do not need to take any
action in response to this bid at this time.
OXM is controlled by investor Mikhail Prokorov, the 5th-richest
person in Russia. Mr. Prokorov
helped Supatcha acquire the rights to develop two resource-rich
mineral properties in the Ukraine
earlier this year.
In addition, Supatcha 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.