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Ursa Major Minerals Incorporated T.UMJ



TSX:UMJ - Post by User

Post by KerBeron Jun 28, 2011 10:21am
213 Views
Post# 18773460

Wes Hall replies.

Wes Hall replies.
Ursa Major Minerals Inc
Symbol C : UMJ
Shares Issued 79,172,901
Close 2011-06-27 C$ 0.155
Recent Sedar Documents

Post says Ursa dissidents fume over Kingsdale move

2011-06-28 09:38 ET - News Release

The Financial Post reports in its Tuesday edition that in the strange battle for control of junior Ursa Major Minerals, all eyes are one of the advisers. The Post's Peter Koven writes that Wes Hall, chief executive officer of Kingsdale Shareholder Services Inc., worked for Ursa's board in its successful defence against the two dissidents, Forbes & Manhattan Inc. and Inspiration Mining Corp. In a highly unusual move, he also bought a block of 6.64 million shares of the miner, or 8.4 per cent of the company, shortly before the proxy vote was held last week. He paid a premium of more than 60 per cent for the stock. The dissidents are fuming as they feel that he swung momentum in favour of the current board, which won the vote easily to keep their jobs. Mr. Hall said any accusations that he tried to swing the vote are "ridiculous" and that Ursa would have won the fight even if he owned no shares. He said he bought the stock for investment purposes only, and that he got no extra fee for winning the proxy fight. He was getting paid $50,000 plus expenses regardless of whether his side won. He paid about $1.7-million for the Ursa block. "I think it's just a silly witch hunt," he told the Post.

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