The offer price of C$0.50 per share and all other conditions under the Hostile Bid remain unchanged.
As stated in Waterton’s Notice of Extension of May 21, 2014 only 741,264 shares have tendered to their bid, representing only approximately 0.6% of the outstanding shares of Chaparral.
Chaparral continues to pursue value-enhancing alternatives that are in the best interests of the Chaparral shareholders, although there can be no assurance that an alternative transaction will arise.
In addition, Chaparral recently entered into a confidentiality agreement with Waterton to allow access to additional information relating to Chaparral.
There is no change in the Board of Directors of Chaparral recommendation that shareholders REJECT the Hostile Bid and DO NOT tender their shares.
