INVESTOR ALERT: The Law Office of Jack Stuart Beige & Associates, P.C. Announces Investigation of Santa Fe Gold Corporation Buyout Proposal
SMITHTOWN, NY, March 10, 2014:
The Law Office of Jack Stuart Beige & Associates, P.C. announces that it is investigating the Board of Directors of Santa Fe Gold Corporation (“Santa Fe”) (OTC QB: SFEG) for possible breaches of fiduciary duties and other violations of law in connection with Santa Fe’s agreement to be acquired by Tyhee Gold Corp. (“Tyhee”).
Under the terms of the proposal, public stockholders of Sante Fe will receive: (a) 0.9 of one common share of Tyhee (the “Tyhee Common Shares”) and (b) 0.45 of one warrant, with each whole warrant entitling the holder to purchase one Tyhee Common Share, at an exercise price of Cd$0.25 per Tyhee Common Share for a period of four years.
The investigation concerns whether Santa Fe’s Board of Directors breached its fiduciary duties to stockholders, whether the proposed consideration to be paid to Santa Fe’s stockholders would be fair and adequate, and whether Santa Fe is acting in its stockholders’ best interests.