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Nautilus Update Regarding Previously Announced Unsolicited Take-Over Bid
By: Marketwired .
Jan. 14, 2013 04:39 AM
TORONTO, ONTARIO -- (Marketwire) -- 01/14/13 -- The Board of Directors of Nautilus Minerals Inc. (TSX:NUS)(OTCQX:NUSMF)(AIM:NUS) (the "Company" or "Nautilus"), advises that management of the Company continues to seek detailed information respecting the bid that Michael Bailey discussed in his daily press releases last week.
Nautilus has been advised by representatives of the Company's two largest shareholders, Metalloinvest, which holds an interest of 21% and MB Holding which holds an interest of 16.9% in the Company, that they have not been approached by Mr. Bailey concerning the offer announced in his January 7 press release.
Furthermore, given the unusual events to date, and the knowledge that a similar offer has been announced by Mr. Bailey in the past (see Links section for details), the Board of Directors is unable to make any determination regarding the validity of the offer.
The Board of Directors will consider the unsolicited offer, if and when it is formally made, and maintains its advice to shareholders not to take any action in respect of such offer until shareholders have received further communication from the Board.
In the meantime, the Nautilus management team remains focused on maximising shareholder value by delivering on the Company's primary objective, being the development of the world's first seafloor copper-gold project.
For more information please refer to www.nautilusminerals.com.
About Nautilus Minerals Inc.
Nautilus is the first company to explore the ocean floor for polymetallic seafloor massive sulphide deposits. Nautilus was granted the first mining lease for such deposits at the prospect known as Solwara 1, in the territorial waters of Papua New Guinea, where it is aiming to produce copper, gold and silver. The company has also been granted its environmental permit for this site.
Nautilus also holds more than 500,000 km2 of highly prospective exploration acreage in the western Pacific; in PNG, the Solomon Islands, Fiji, Vanuatu and Tonga, as well as in international waters in the eastern Pacific.
A Canadian registered company, Nautilus is listed on the TSX:NUS and AIM:NUS stock exchanges and OTCQX:NUSMF. Its corporate office is in Brisbane, Australia. Its major shareholders include Metalloinvest, the largest iron ore producer in Europe and the CIS, which has a 21% holding, global mining group Anglo American, which holds an 11.1% interest and MB Holdings, an Oman based group with interests in mining, oil & gas, which holds a 16.9% interest.
Neither the TSX, London Stock Exchange, nor the OTCQX accepts responsibility for the adequacy or accuracy of this press release.
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