- At the recent AGM, the Concerned Shareholders slate of directors received a total of 57,621,854 shares representing 45.5% of the shares voted
- Shareholders holding one third of the issued and outstanding share capital of the Company are clearly unhappy with the direction and management of the Company over the past year
- For Fancamp to move forward, this discontent of a significant shareholder block must be resolved by the new board and management
Montreal, Quebec–(Newsfile Corp. – October 15, 2021) – Former director of Fancamp, Peter H. Smith, who, together with joint actors, James Hunter and his affiliates, Mark Fekete and Heather Hannan, (the “Concerned Shareholders”) held in aggregate, directly and indirectly an aggregate of 22,285,597 shares, representing approximately 12.63% of Fancamp Exploration Ltd.’s (“Fancamp” or the “Company”) outstanding share capital, wish to thank shareholders for their patience and support during this long campaign to bring accountability to the Company.
A total of 126,670,684 million shares representing approximately 71.76 % of Fancamp’s issued and outstanding shares were voted in connection with the 2020 annual general meeting (“AGM”). Although the incumbent board and management’s slate of directors were elected at the meeting, the Concerned Shareholders slate of nominees received at total of 57,621,854 shares representing 45.5% of the shares voted. This clearly shows that shareholders holding one third of the issued and outstanding share capital of the Company are unhappy with the direction and management of the Company over the past year. The message is loud and clear that for Fancamp to increase shareholder value and achieve its true potential, all parties need to come together to move forward. The discontent of a significant shareholder block must be resolved by the new board and management.
The recent appointment of Mathieu Stephens from the Concerned Shareholders slate of nominees to the board of directors is a step in the right direction. We hope to have further discussions and appointments in the very near future
The Concerned Shareholders want to let those shareholders that voted for our slate of nominees know that we will continue to represent your interests. We will do our best to hold the board and management accountable for their actions and decisions. We also look forward to working with them to ensure that all shareholders interests are considered in all decisions pertaining to the Company.
Gryphon Advisors Inc.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/99826