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Crocodile Gold Adopts Shareholder Rights Plan

Crocodile Gold Corp. (CRK.TO) announced that its Board of Directors has adopted a limited duration Shareholder Rights Plan. The Rights Plan will expire at 5 p.m. (Toronto time) on February 29, 2012. The Rights Plan is intended to ensure that in the context of the unsolicited take-over proposal for Crocodile Gold common shares announced by Luxor Capital Group, LP, the Board has sufficient time to identify, develop and negotiate alternatives to maximize shareholder value. The Rights Plan also seeks to ensure the fair treatment of shareholders and to provide them with adequate time to properly assess any potential take-over bid without undue pressure. New York-based private equity firm Luxor on Tuesday offered to buy around 69% of Crocodile Gold at 56 cents apiece.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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