Khan Resources Inc. (KRI.TO) said Friday that Atomredmetzoloto JSC, a Russian state-owned nuclear energy corporation, plans to make an unsolicited offer to buy all of the outstanding common shares of Khan Resources for C$0.65 per share.
Atomredmetzoloto has issued a press release which indicates that the offer will be made by way of a take-over bid circular to be mailed to Khan shareholders after a shareholders' list is received from Khan. Khan Resources said Atomredmetzoloto has not yet made any formal offer and that it it will not comment on the offer or speculate as to any future course of action it might take until it receives the offer and completes its review of the terms and conditions of any such offer.
Khan Resources urged its shareholders to defer making any decision with respect to the offer until the Khan Board of Directors formally communicates to shareholders its position on any such offer.
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