Crocodile Gold Announces Update On Shareholder Rights Plan

Crocodile Gold Corp (CRK.TO), attempting to fend off an unsolicited takeover by Luxor Capital through the enactment of a shareholders rights plan, has announced that the TSX has deferred consideration of the acceptance of Crocodile Gold's limited duration Shareholder Rights Plan until the exchange is is satisfied that the appropriate securities commission will not intervene pursuant to National Policy 62-202 - Take-Over Bids - Defensive Tactics in any take-over bid for the Company; and the ratification of the Rights Plan by the shareholders of the Company by no later than June 18, 2012.

Pursuant to TSX policies, the TSX automatically defers acceptance of shareholder rights plans adopted in response to a specific take-over bid.

Even though the TSX has deferred its review of the Rights Plan, the Rights Plan remains in effect.

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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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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