Anyone here have Michael Bailey's number? Maybe we can convince him to make a bid for CUU's 25 per cent of Schaft Creek and drive up our share price to a respectable level!

Ottawa Trader Makes Hostile Takeover Bid For Nautilus Minerals

OTTAWA, ONTARIO--(Ottawa - January. 7, 2013) - Michael Bailey and his family office solely controlled by him announced today the commencement of a tender offer for all outstanding shares of common stock of Nautilus Minerals Ltd. (TSE:NUS) for $0.97 per share, net to the seller in cash.

Under the terms of the tender offer, the family office controlled solely by Michael Bailey will commence a hostile all cash bid to purchase all the outstanding shares of Nautilus Minerals Ltd. for $0.97 CAD per share for an aggregate purchase price of $237.99 million CAD. This represents a 209% premium to the previous day closing price of Nautilus' stock.

The tender offer is scheduled to expire at 12:00 midnight, Eastern Standard Time, on March 1, 2013, unless the tender offer is extended. The tender offer is conditioned on the tender of a majority of Nautilus's shares calculated on a fully-diluted basis, as well as the receipt of certain regulatory approvals and other customary closing conditions.

Gannibal Securities has been engaged to act as advisor in this transaction and will negotiate lock up agreements with major Nautilus Minerals shareholders Metalloinvest (21.0%), Anglo American(11.1%), MB Resources(16.9%) and Teck Resources(4.5%). The law offices of Faskin Martineau a national law firm will represent Mr. Bailey in this transaction.

The family office controlled solely by Mr.Bailey currently owns a minority stake in the company and is now making a hostile bid to acquire 100% of the outstanding company stock with the intention of taking the company private to finance and execute the underwater mining business plan. Michael Bailey, an experienced investor and resident of Canada is an algorithmic trader and formerly a member of the Band of Scoundrels, an elite group of high frequency proprietary traders that successfully shorted Citigroup and profited over $130M in October 2008.

The acquisition is expected to close during the first quarter of calendar year 2010; however, the close date is subject to customary closing conditions, including regulatory review in Canada.

Contact Info
Gannibal Securities
Ottawa, Ontario
Media Relations
(613) 698-7590
info@gannibalsecurities.com