Supatcha (OTC:SAEI) Tanks -20% Even After Announcing Bids for $1.75 and $2.50

Supatcha Resources (OTC:SAEI) drops 20 percent today even after announcing two unsolicited bids from two Russian groups for $1.75 and $2.50 per share, respectively. In late trading, shares of Supatcha Resources were down 21 percent, or 4 cents per share, at $0.15 per share on heavy volume of nearly 19 million shares compared to its average daily volume of about 10 million shares. Supatcha Resources has a market cap of $9 million and a 52-week range between $0.03 and $0.93 per share.

Supatcha Resources acknowledged last Friday of the announcement by OXM Group (OXM) of its intention to proceed with an unsolicited bid for all of the issued and outstanding shares of Supatcha at a price of $1.75 per share.

Yesterday, the Company announced that it has received a second unsolicited bid for 100% of the issued and outstanding shares of the Company at a price of $2.50. The unsolicited bid was made by JSC Rustamov Group (JRG) of Moscow, Russia.

Supatcha Resources Inc. is a gold exploration company focused on acquiring and developing mineral properties in Ukraine. Supatcha is in the final stages of acquiring two additional gold mining projects in southwestern Ukraine.

For more information visit the company's website.

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