TORONTO, July 17, 2018 (GLOBE NEWSWIRE) -- Eric Owens and the Founder’s Group have tried in the period leading up to the special meeting of Alexandria Minerals Corporation (“Alexandria” or the “Company”) to be held next Tuesday, July 24, 2018 (the “Meeting”) to give shareholders an understanding what has occurred to bring us to the current state of affairs and to provide some insight into his plan for the Company going forward.
Taking action to change the board was admittedly a significant step, but Mr. Owens believed it was the right step for Alexandria and its shareholders. As a consequence, his employment was terminated and he has been unjustly accused of a number of things, all of which are false. You have likely seen these accusations in the myriad of press releases and mailings the company has sent you – allegations that Mr. Owens had raised $20m for Alexandria without the board having knowledge or providing approval, allegations that somehow a reputable major law firm had accepted financing funds into its Law Society-regulated trust account under Mr. Owens’ own name, allegations that he mislead the market but without any proof of misleading conduct or evidence that anyone was mislead, and so on. Alexandria would have you believe that his termination was the result of these unfounded allegations, but the facts don’t support this claim.
Current management was (understandably) worried that the shareholders would approve the change of board at the Meeting and decided to attack Mr. Owens, personally and professionally, as a result. All we can ask is that you review the information on the public record with an open mind and ask yourself, in light of the circumstances, do any of these allegations have a ring of truth? Below we expand on Mr. Owens’ plans for the Company, and why we believe his vision is in the best interests of Alexandria and its shareholders.
Our Plan: Realize Alexandria’s True Potential
The Founder’s Group has only ever had one plan that is realistic and time-tested for discovery in the mining industry, and follows the path that our former neighbour, Integra Gold, followed when they sold in 2017 for $565 million. It is a path of gold discovery and wealth creation.
- Throughout its 2.5-year period of aggressive exploration drilling, Integra Gold raised $113M over 10 financings, increasing the number of shares outstanding by 240%.
- Yet their share price grew steadily, tripling by the second half of 2016. By the time of the sale, its share price had increased 600% to $1.21.
- Alexandria’s property along the Cadillac Break is 5 times larger than Integra’s.
Financing
Our goal in December 2017 was a $5M - $7M financing. But such was the enthusiasm for our projects, that Mr. Owens raised $20M at an average price of 9.2 cents per share (which was then the market price) by January 2018.
- This was not an insider financing as current management accuses, and it was not a Bay Street financing. Instead, we brought in new investors who truly believed in Alexandria’s upside value from gold discovery.
- The three principals were a diversified group of investors: a major mining company, a New York investment fund and a European investment bank.
- Our plan is to revive this financing – again aimed modestly at $5M - $7M given the current situation – Mr. Owens has remained in close contact with this group who still believe in a bright future for Alexandria Minerals and, who we believe, remain committed to a financing.
Find Gold
Here is how we expect to find gold:
- Redo the inaccurate and incomplete 43-101 Resource Estimate using the appropriate geologic models, incorporating the missing 25% of drill samples and, perhaps, adding in results from the January drilling (a further 15% of all drilled samples). This will increase our samples by 40%.
- Reinstate the board-approved 60,000-metre drill program, cancelled by management after only 6 weeks for reasons never explained to shareholders.
- Use the 43-101 Resources Estimate in the way it was always intended: as a road map on our discovery path. This information will guide our program, based on the new geologic interpretation (praised by John Kaiser last summer: New Geologic Model).
You can Vote Multiple Times – Only Your last Vote Counts
Eric Owens’ superior vision is the platform of the Founder’s Group’s efforts to grow shareholder value, which stands in stark contrast to the current board’s lack of direction. We encourage you to vote with him on the YELLOW ballot.
Shareholders must cast their vote no later than 5:00 P.M. (EST) on Thursday, July 19, 2018 or at least 48 hours (excluding Saturdays, Sundays and statutory holidays) prior to the time of any adjournment or postponement of the Meeting.
Save your company by voting the YELLOW proxy form:
- FOR the Board Size Resolution
- AGAINST the Former CEO Removal Resolution
- FOR the Dissident Director Removal Resolution
- FOR the Election of the Founder’s Group Board Nominees
Reach out to Mr. Owens directly by email eric.owens@votefoundersgroup.ca , phone (416)-509-5385 or website www.votefoundersgroup.ca.
Need help voting? Call Navigator Ltd. by telephone at 1-(844) 846-0441 or email proxy@votefoundersgroup.ca.
For more information:
Mike Van Soelen,
Navigator Ltd
mvansoelen@navltd.com
(416) 307-3039
Disclaimers
Eric Owens has not sought or obtained consent from any third party to the use herein of previously published information. Any such information should not be viewed as indicating the support of such third party for the views expressed herein.
Except for the historical information contained herein, the matters addressed in these materials are forward-looking statements that involve certain risks and uncertainties. You should be aware that actual results could differ materially from those contained in the forward-looking statements. Eric Owens does not assume any obligation to update the forward-looking information other than as required by law.
Information in Support of Public Broadcast Solicitation
Eric Owens is relying on the exemption under section 9.2(4) of National Instrument 51-102 – Continuous Disclosure Obligations (“NI51-102”) and section 150(1.2) of the Canada Business Corporations Act to make this public broadcast solicitation. The following information is provided in accordance with securities and corporate laws applicable to public broadcast solicitations.
This solicitation is being made by Eric Owens, and not by or on behalf of the management of Alexandria Minerals Corporation (“Alexandria”). The registered and mailing address of Alexandria is 1 Toronto Street, Suite 201 Toronto, Ontario M5C 3B2.
Eric Owens has filed an information circular containing the information required by NI51-102 Form-102F5 – Information Circular in respect of the Founder’s Nominees, which is available under Alexandria’s profile on SEDAR at www.sedar.com.
A registered holder of shares of Alexandria that gives a proxy may revoke it: (a) by completing and signing a valid proxy bearing a later date and returning it in accordance with the instructions contained in the form of proxy to be provided or as otherwise provided in the proxy circular accompanying such proxy; (b) by depositing an instrument in writing executed by the shareholder or by the shareholder's attorney authorized in writing, as the case may be: (i) at the registered office of Alexandria at any time up to and including the last business day preceding the day the Meeting or any adjournment or postponement of the Meeting is to be held, or (ii) with the chairman of the Meeting prior to its commencement on the day of the Meeting or any adjournment or postponement of the Meeting; or (c) in any other manner permitted by law. A non-registered holder of shares of Alexandria will be entitled to revoke a form of proxy or voting instruction form given to an intermediary at any time by written notice to the intermediary in accordance with the instructions given to the non- registered holder by its intermediary.
Proxies for the Special Meeting may be solicited by mail, telephone, email or other electronic means as well as by newspaper or other media advertising, and in person by associates, agents, representatives and employees of Eric Owens, who will not be specifically remunerated therefor. In addition, Mr. Owens may solicit proxies in reliance upon the public broadcast exemption to the solicitation requirements under applicable Canadian securities laws, conveyed by way of public broadcast, including through press releases, speeches or publications, and by any other manner permitted under applicable Canadian laws. Mr. Owens may engage the services of one or more agents and authorize other persons to assist him in soliciting proxies should he commence a formal solicitation of proxies. In this regard, Mr. Owens has entered into an agreement with Navigator Ltd., which has agreed to act, in addition to other capacities, in a capacity to assist Mr. Owens in the oversight and solicitation of proxies in connection with the Meeting. Pursuant to this agreement, Navigator Ltd. will be paid a fee of $15,000 for this activity. All costs incurred for the solicitation will be borne by Mr. Owens. Dan Palikrousis has contributed funds to Mr. Owens to defray the costs of such solicitation; as a result he may also be deemed to be a “solicitor” within the meaning of applicable securities laws.
To the knowledge of Mr. Owens, neither he nor any of his associates or representatives, nor any of the Founder’s Nominees, or their respective associates or affiliates, has: (i) any material interest, direct or indirect, in any transaction since the beginning of Alexandria' most recently completed financial year or in any proposed transaction that has materially affected or would materially affect Alexandria or any of its subsidiaries; or (ii) any material interest, direct or indirect, by way of beneficial ownership of securities or otherwise, in any matter currently known to be acted upon at the Meeting, other than the election of directors of Alexandria.