Megastar Provides Clarification Regarding New Distribution Record Date
23 Dezembro 2010 - 11:00AM
Marketwired
Megastar Development Corporation ("Megastar", the "Company" or
"MDV") (TSX VENTURE: MDV)(FRANKFURT: M5Q) today provided
clarification regarding its recent announcement of a new record
date for the distribution (the "Distribution Record Date") of the
common shares of Eloro Resources Ltd. (the "Eloro Shares") under
the terms of the Company's shareholder approved arrangement (the
"Arrangement").
The Distribution Record Date was previously set for December 21,
2010 and, in consultation with the TSX Venture Exchange (the
"Exchange"), was required to be reset to January 7, 2011 in order
to comply with Exchange policies applicable to distributions
characterized as dividends. Additionally, the Ex-dividend date, the
date as of which a purchaser of Megastar shares will not be
entitled to receive any Eloro Shares pursuant to the Arrangement,
has been set for January 4, 2011. As a consequence, the last date
that shareholders of Megastar will be entitled to any distribution
of Eloro shares will be for acquisitions made on the trading day
prior to the Ex-dividend date.
This news release should be read together with the more detailed
information contained in the management information circular of the
Company dated November 25, 2010, available on SEDAR at
www.sedar.com.
ABOUT MEGASTAR DEVELOPMENT CORP.
Megastar Development Corp. is an emerging resource company
engaged in the acquisition, exploration and development of mineral
properties in Canada. Megastar owns gold and base metal properties
in Quebec and British Columbia. For further information, investors
and shareholders are invited to visit the Company's website at
www.megastardevelopment.com or call the office at 604-683-6648.
ON BEHALF OF THE BOARD OF DIRECTORS
Dusan Berka, P. Eng., President & CEO
Statements made in this news release that are not historical
facts are "forward-looking statements", and readers are cautioned
that any such statements are not guarantees of future performance,
and that actual developments or results, may vary materially from
those in these "forward-looking" statements.
Neither the TSX Venture Exchange nor its regulation services
provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this news release.
Contacts: Megastar Development Corporation Dusan Berka, P. Eng.
President & CEO 604-683-6648 604-683-1350 (FAX)
www.megastardevelopment.com
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