Starcore Responds to Announcement of Intention to Make an Unsolicited Offer
Suite 750 – 580 Hornby Street, Box 113, Vancouver, British Columbia, Canada V6C 3B6
Telephone: (604) 602-4935 Fax: (604) 602-4936 e-mail: [email protected] website: www.starcore.com
May 13, 2022 TSX: SAM
STARCORE RESPONDS TO ANNOUNCEMENT OF INTENTION
TO MAKE AN UNSOLICITED OFFER
• Starcore advises shareholders that no offer has been made and there is no need to take any immediate
action.
• Starcore’s Board will keep shareholders informed and provide a recommendation should an offer be
made.
• For any questions, contact Laurel Hill at 1-877-452-7184 (North American Toll Free). 416-304-0211
(Calls Outside North America) or by email at [email protected].
Vancouver, BC – Starcore International Mines Inc. (TSX:SAM) (“Starcore” or the “Company”)
confirms that it is aware of the announcement of the intention to make an unsolicited offer by Semper
Recursos Naturales S.A. de C.V. ( “Semper”) for the outstanding common shares of Starcore at a price of
$0.35 per common share. Shareholders are cautioned that no bid has been commenced, and in accordance
with Canadian securities laws, any offer made will be open for a minimum of 105 days. Shareholders do not
need to take any action at this time.
Do Not Take Any Action at This Time
If the unsolicited offer is commenced, Starcore’s board of directors (the “Board”) will consider and evaluate
the offer and will communicate a recommendation from the Board Should an offer be made, Starcore will
issue a directors’ circular that will contain important information for shareholders, including the Board’s
recommendation regarding the offer. Until such time, shareholders do not need to take any action and should
await the results of the review and recommendation of the Board before making any decisions with respect to
the offer.
Advisors
Legal counsel to Starcore is McMillan LLP; and Laurel Hill Advisory Group is serving as Starcore’s strategic
communications advisor and information agent.
Shareholder Questions
• Shareholders with questions are encouraged to call Starcore’s information agent, Laurel Hill
Advisory Group at 1-877-452-7184 (North American Toll Free). 416-304-0211 (Calls Outside North
America) or by email at [email protected].
About Starcore
Starcore International Mines is engaged in precious metals production with focus and experience in Mexico.
This base of producing assets is complemented by exploration and development projects throughout North
America. The Company is well financed with working capital, comprised mainly of cash, of almost $9 million
- 2 -
available to achieve its business objectives. The Company is a leader in Corporate Social Responsibility and
advocates value driven decisions that will increase long term shareholder value. You can find more information
on our investor friendly website here: www.starcore.com.
ON BEHALF OF STARCORE INTERNATIONAL
MINES LTD.
Signed “Robert Eadie”
Robert Eadie, Chief Executive Officer
FOR FURTHER INFORMATION PLEASE CONTACT:
ROBERT EADIE
Telephone: (604) 602-4935 x 205
Toll Free: 1-866-602-4935
Email: [email protected]
Caution Regarding Forward Looking Statements
This release may contain forward- looking statements. Forward- looking statements involve known and unknown risks,
uncertainties, and other factors which may cause the actual results, performance, or achievements of Starcore to be
materially different from any future results, performance, or achievements expressed or implied by the forward- looking
statements. Forward looking statements or information relates to, among other things, the potential receipt of a
takeover bid from Semper (if at all) and our consideration of such bid, notification to shareholders of the Board’s
recommendation in respect of a takeover bid, and the realization of Starcore’s business objectives. These forward-looking
statements are based on management’s current expectations and beliefs but given the uncertainties, assumptions and
risks; readers are cautioned not to place undue reliance on such forward -looking statements or information. The
Company disclaims any obligation to update, or to publicly announce, any such statements, events or dev elopments
except as required by applicable securities laws.
The Toronto Stock Exchange has not reviewed, nor does it accept responsibility
for the adequacy or accuracy of this press release.