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Approval of Shareholder Rights Plan | Northern BC Business
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Approval of Shareholder Rights Plan

April 12, 2012
Approval of Shareholder Rights Plan

April 12, 2012 – Vancouver, British Columbia, Canada: Bard Ventures Ltd. (the “Company” or “Bard”) is pleased to announce that at the Company’s Annual General and Special Meeting held Thursday, April 5, 2012 the shareholders of the Company approved the renewal of a shareholder rights plan entered into with Computershare Trust Company of Canada as rights agent, effective October 17, 2008 (the “Rights Plan”).

The purpose of the Rights Plan is to ensure that, in the context of a bid for control of Bard through an acquisition of the common shares of the Company, the board of directors has sufficient time to consider the bid and assess alternatives for maximizing shareholder value as it considers in its judgment to be in the best interests of the corporation. Additionally, the Rights Plan gives shareholders an equal opportunity to participate in such a bid; gives them adequate time to properly assess the bid; and lessens the pressure to tender typically encountered by a securityholder of an issuer that is subject to a bid.

The Company is not proposing the Rights Plan in response to or in anticipation of any acquisition or take-over bid. The Rights Plan is not intended to prevent a take-over of the Company, to secure continuance of current management or the directors in office, or to deter fair offers for the Company’s common shares. The Rights Plan does not inhibit or prevent any shareholder from using the proxy mechanism set out in the British Columbia Business Corporations Act to promote a change in the management or direction of the Company. The Rights Plan may, however, increase the price to be paid by a potential offer or to obtain control of the Company and may discourage certain transactions.

The Rights Plan does not affect in any way the Company’s financial condition. The initial issuance of the Rights will not dilute the Company’s shares until the Rights separate from the underlying common shares and become exercisable. The adoption of the Rights Plan will not lessen or affect the duty of the Company’s directors to act honestly, in good faith, and in the Company’s best interests. The Rights Plan is designed to provide the directors with the means to negotiate with an offeror and with sufficient time to seek out and identify alternative transactions on behalf of the Company’s shareholders.

Bard’s board of directors is not aware of any third party currently considering or preparing any proposal to acquire control of the Company.

The Rights Plan is subject to approval of the TSX Venture Exchange.

A complete copy of the Rights Plan has been filed under the Company’s profile on SEDAR.

On behalf of:
Bard Ventures Ltd.

“Eugene Beukman”
Eugene Beukman, President

For further information please visit our website at www.bardventures.com.

This release includes certain statements that may be deemed to be “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration and development activities and events or developments that the Company expects, are forward looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see our public filings at www.sedar.com for further information.

Article source: http://www.bardventures.com/s/NewsReleases.asp?ReportID=518490

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