OTCPK:CTNXF - Post by User
Post by
cigarbuttson Jan 31, 2019 9:16am
92 Views
Post# 29300716
Cornerstone Mgmt/BOD
Cornerstone Mgmt/BODAppears to be more interested in entrenching themselves to preserve their ability to
collect the salaries, and the "freebie" shares in the form of stock options and continuiously dilute the shareholders of Cornerstone with what appears to me adding about ZERO Economic Value Added to the Cascabal project and the exploration assets.
I offer these reasons:
1) Cornerstone BOD/Mgmt approved a Shareholder rights plan just this month........they were saying they knew of "No offer" or plan to make an offer that was out therein the market. Solgold says they have contacted and been trying to strike a deal with Cornerstone from time to time in 2017 and 2018. Appears Corenrstone has trouble disclosing the facts to their stockholders about the true intent of the Shareholder Rights Plan. I have really never seen a shareholder rights plan that actually protects shareholders. What it really does is tend to force bidders to come negotiate with mgmt and BOD where the insiderscan INCREASE their economic take from the deal by actually REDUCING shareholder compensation on the deal in exchange for getting a "friendly" deal with a higher likelyhood of success. The "exchange" is greater managment/BOD compensation on golden parachutes for them and less for stockholders. The Canadian Securities Laws already on the BOOKS protect shareholders quite well in the case of eithe a "friendly" offer or an offer that is NOT approved by management/BOD.