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Terraco Adopts Shareholder Rights Plan

Terraco Gold Corp. (TEN.V) announced that its Board of Directors has approved the adoption of, and that it has now adopted, a shareholder rights plan, subject to shareholder approval. The plan is now effective and will require shareholder ratification within six months to remain in place.

The purpose of the plan is to provide shareholders and the company's Board of Directors with adequate time to consider and evaluate any unsolicited bid made for the company; to provide the Board of Directors with adequate time to identify, develop and negotiate value-enhancing alternatives, if considered appropriate, to any such unsolicited bid; to encourage the fair treatment of shareholders in connection with any take-over bid for the company and; to ensure that any proposed transaction is in the best interests of the company's shareholders.

TEN shares gained a penny to $0.10.

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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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