WHAT IS THIS CLASS ACTION ABOUT?
Pursuant to a circular dated November 23, 2001, Aspen Group Resources Corporation (“Aspen”) completed a take-over of Endeavour Resources Inc. (“Endeavour”) whereby Endeavour Securities were tendered or otherwise acquired in exchange for securities of Aspen. This class action was brought on behalf of former Endeavour security holders, who sought damages under the Ontario Securities Act for alleged misrepresentations in Aspen’s take-over bid circular (the “Action”).
Settlements have been reached in respect of all defendants in the Action totaling CDN $3,285,000 on a gross recovery basis. The settlements have been approved by the Court. The settlement funds, less Court-approved fees, disbursements, notice costs, and applicable taxes, are being held in an interest-bearing trust account for the benefit of all Class Members, and will to be distributed to class members in accordance with a court-approved distribution protocol.
HOW DO I KNOW IF I AM A CLASS MEMBER?
You are automatically a class member if you have not previously “opted-out” (elect to exclude yourself) of the Action, and:
You held common shares, Series I special warrants or Series II special warrants of Endeavour that were tendered or otherwise acquired by Aspen pursuant to Aspen’s take-over bid dated November 23, 2001. (“Class Members”)
Former or current defendant(s), any of their subsidiaries, affiliates, officers, directors, senior employees, legal representatives, heirs, predecessors, successors or assigns, or any individual provided with a release by any settlement agreement in this action, are not entitled to any share of any settlement.