NameSilo Announces Shareholder Rights Plan

Rhea-AI Summary

NameSilo Technologies Corp. (CSE: URL / OTC: URLOF) has announced the adoption of a Shareholder Rights Plan effective March 20, 2023. This plan aims to ensure fair treatment of shareholders during any acquisition offers and allows the board to explore alternatives to unsolicited takeover bids. The plan is pending ratification at the upcoming annual general meeting on April 18, 2023. The details of the plan will be included in the Management Information Circular to be sent to shareholders. NameSilo is a rapidly growing domain registrar, managing nearly 4.6 million domains worldwide.

Positive

• Adoption of a Shareholder Rights Plan to protect shareholder interests.
• Pending ratification can enhance shareholder confidence.
• Management actively seeks undervalued investment opportunities.

Negative

• None.

CSE: URL / OTC: URLOF

VANCOUVER, BC, March 20, 2023 /PRNewswire/ - NameSilo Technologies Corp. (CSE: URL) (PINKSHEETS: URLOF) (the "Company") announces that its Board of Directors has adopted a shareholder rights plan (the "Shareholder Rights Plan") effective March 20, 2023. The Shareholder Rights Plan is subject to ratification by the Company's shareholders at its upcoming annual general meeting of shareholders scheduled to be held on April 18, 2023 (the "AGM").  

The Shareholder Rights Plan is similar to rights plans adopted by other Canadian companies and ratified by their shareholders. The purpose of the Rights Plan is to ensure that all shareholders are treated fairly in connection with any offer to acquire the outstanding common shares of the Company and that the board of directors of the Company has the opportunity to identify, solicit, develop and negotiate value-enhancing alternatives to any unsolicited take-over bid. The Shareholder Rights Plan has not been adopted in response to, or in anticipation of, any known or anticipated take-over bid.

A summary of the principal terms and conditions of the Shareholder Rights Plan will be set out in the Company's Management Information Circular to be mailed to shareholders prior to the AGM. A copy of the complete Shareholder Rights Plan will be filed on SEDAR.

About NameSilo Technologies Corp. and NameSilo LLC

NameSilo Technologies Corp. invests its capital in companies and opportunities which management believes are undervalued and have potential for significant appreciation. The company makes investments in both public and private markets and focuses on opportunities in a wide variety of industries excluding the resource and resource service sectors. Namesilo does not invest on behalf of any third party and it does not offer investment advice.

NameSilo LLC is a low-cost provider of domain name registration and management services. As an accredited ICANN registrar, NameSilo is one of the fastest growing domain registrars in the world with nearly 4.6 million active domains under management, and approximately 275,000 customers from approximately 160 countries.

Disclaimer for Forward-Looking Information

Certain statements in this news release are forward-looking statements, which reflect the expectations of management regarding potential future investments by the Company. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements and set forth in detail in the Company's CSE Listing Statement dated August 1, 2018. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause the Company's actual results to differ materially from those expressed or implied by the forward-looking statements.

NEITHER THE CSE NOR ITS REGULATION SERVICES PROVIDERS (AS THAT TERM IS DEFINED IN THE POLICIES OF THE CSE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

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SOURCE NameSilo Technologies Corp.

FAQ

What is the purpose of the Shareholder Rights Plan adopted by NameSilo?

The Shareholder Rights Plan aims to ensure fair treatment of shareholders during acquisition offers and allows the board to negotiate value-enhancing alternatives.

When is the annual general meeting of NameSilo shareholders scheduled?

The annual general meeting is scheduled for April 18, 2023.

What is the current stock symbol for NameSilo Technologies Corp.?

The stock symbols are CSE: URL and OTC: URLOF.

How many active domains does NameSilo manage?

NameSilo manages nearly 4.6 million active domains.