“Alexandria Minerals grew from a value of $4M to $50M under my stewardship. The 2017 drilling program shows there’s more to come. The only question is who will benefit? I believe Alexandria’s shareholders deserve these benefits”.
Eric Owens, Founder and former CEO.
TORONTO, June 28, 2018 (GLOBE NEWSWIRE) -- Eric Owens, the founder and former CEO of Alexandria Minerals Corporation (“Alexandria” or “Company”), today filed an information circular in respect of the special meeting of shareholders (the “Meeting”) scheduled for July 24, 2018 which had been requisitioned by a group of 15 concerned shareholders (collectively the “Founder’s Group”).
Since Eric Owens was fired from Alexandria Minerals in February, the Company has languished with the share price falling by 70% under management by Board Members Peter Gundy, Walter Henry and Gary O’Connor (“Affected Board”). Shareholders can vote to turn the company back to its growth path, by removing the Affected Board and replacing them with the highly experienced and pro-growth board candidates recommended here: Ian Mellon, Chris Hopkins and Colin Sutherland.
- In late 2017 the Affected Board abandoned all previous board-approved plans for growth through an aggressive drilling program, in favor of selling the Company at a fire-sale price.
- Sprott Capital initiated this total about-face when, as a large shareholder, they requested Peter Gundy be appointed as Board Chairman. The Affected Board has subsequently worked towards an undervalued sale of the Company on terms favourable to Sprott Capital.
- Mr. Joseph Groia is representing the Founder’s Group in a lawsuit against the Affected Board alleging misuse of power to the detriment of shareholders, in favour of others, and to hold them personally liable for the loss of shareholder value resulting from their actions.
- All shareholders should know: if this Company is sold prematurely, the investment of virtually all shareholders will be underwater by at least 30% and the share price of your new company shares will have to increase 300% for your investment just to break even with the January price of your Alexandria shares.
Alexandria’s huge, largely unexplored Val d’Or property, located along the proven Cadillac Break, is highly prized and envied. Unlike the current management, Mr. Owens’ steadfast vision adds value through an aggressive drilling program before seeking M&A partners.
The new Board’s priorities will be to:
- Bring in the capital necessary to restart the scuppered drilling program, the largest planned program in Alexandria’s history;
- Re-start the 60,000 metre drill program; and
- Complete the 2-year period of aggressive discovery drilling.
To support this vision, Eric Owens and the Founder’s Group recommend that shareholders vote only on our YELLOW ballot (arriving in mail boxes next week). By voting as recommended here, you will be voting in favor of finding gold and creating wealth, and against the premature sale of the Company for pennies on your dollar.
We encourage you to vote the yellow ballot, even if you have already voted the blue ballot.
Shareholders must cast their vote no later than 5:00 P.M. (EDT) 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.
If you have any questions or need help voting, please 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 https://www.votefoundersgroup.ca/
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 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 Form 51- 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.