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Concerned Shareholders of FAR Resources Ltd, File Letter to Shareholders and Concerned Shareholders Circular Which Provides FAR Shareholders with a Plan to Create Value
- Strongly recommend shareholders vote only the GOLD proxy FOR all three (3) of the Concerned Shareholders’ Nominee’s Slate of exceptionally qualified director nominees no later than 5:00 pm (Vancouver Time) on December 7, 2021.
- The Concerned Shareholder provides a comprehensive plan to change the direction of FAR and create shareholder value.
- The Concerned Shareholders remind fellow shareholders voting for our highly qualified Nominee Slate is your way to put an immediate end to the incumbent board and management’s egregious failures and deceptions.
- Shareholders with questions on voting should contact Gryphon Advisors Inc. at 1.833.292.5847 toll-free in North America (1.416.902.5565 by collect call) or email us at
Source: Bloomberg Finance LP as at November 16, 2021 (most recent).
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Source: Bloomberg Finance LP as at October 7, 2021, the date Far Resources Ltd. received director nominations.
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https://orders.newsfilecorp.com/files/8347/104262_c16f29bd449b0afc_004full.jpgWinston Gold and Silver Property
The Company issued a news release on September 21, 2020, announcing plans for an exploration program on The Winston Gold and Silver Property in New Mexico. On February 2, 2021, a follow up press release was issued that included the first batch of samples together with a positive message from Mr. Gammack in which he said he was “more than pleased to report these findings, to say that I’m over the moon Is an understatement! Additionally, we will be providing further widespread sampling results in future news releases in the weeks to come.” Subsequent press releases dated April 23, 2021, May 11, 2021, May 18, 2021, May 26, 2021 all hinted at the launch of a diamond core drilling program. To date there has been no drilling program nor any update on the property. It appears Messrs Gammack and Dinning simply lost interest in the property and clearly failed to recognize they have repeatedly indicated that aggressive development of the property was at hand only to completely drop the ball. Incredibly to date absolutely no material progress has been achieved – no drill program has materialized, without explanation, and the result is a loss of two-thirds (-66%) of the Company’s share value.
Incompetence and lack of Best Practices
FAR’s current board and management lack a long-term strategy and the ability to convey to the market the underlying intrinsic value of the Company. Shareholders deserve a board of directors ready to take charge and focus their efforts on developing a clear, understandable and achievable long-term strategy that enables investors and the market to properly value the Company. Current management has failed to properly communicate and respond to shareholders in a timely manner and execute the Company’s assets in a meaningful way. It has become more than abundantly clear that the Company requires a complete change in leadership to regain market trust and credibility and to start to build significant value for shareholders.
We encourage you to take this opportunity to voice your concern and vote for the Concerned Shareholders’ Nominee Slate with a commitment to focusing on the best interests of ALL Shareholders, while demonstrating a shareholder mindset necessary to ensure that shareholder value is maximized.
Sincerely,
The Concerned ShareholdersTo view the source version of this press release, please visit https://www.newsfilecorp.com/release/104262
