08:06 AM EST, 02/03/2025 (MT Newswires) -- Arizona Sonoran Copper ( ASCUF ) said Monday that it adopted a shareholder rights plan, effective as of Jan. 31.

The company said the rights plan is designed to ensure that all of its shareholders are treated fairly in connection with any takeover bid and to protect against "creeping bids", which involve the accumulation of more than 20% of its shares through purchases exempt from applicable takeover bid rules.

Arizona said the rights plan is similar to ones recently adopted by other Canadian companies and approved by their shareholders, and has not been implemented in response to, or in anticipation of, a takeover bid.

"We expect that market confidence in the Cactus project and management's go-forward plan will continue to improve through 2025 and envision a positive valuation change as we continue de-risking Cactus, and release the project's pre-feasibility study later this year," said David Laing, independent chair of Arizona's board.

"In the meantime, the rights plan is designed to enable all ASCU shareholders to realize a more fulsome value of their investment by protecting against opportunistic parties who may seek to take advantage of ASCU's currently undervalued common shares," Laing added.