Clifton Star Res Inc CFMSF

RE: Time to speak up about management and stock pr

[Jolgas2]

Recently I wrote that part of the reason for the recent brutal drop in the stock price is the the choice by Mr. Michel Bouchard and the board of directors to do a private placement on a flow-through basis.   https://www.cfo-star.com/wp/clifton-star-resources-announces-the-closing-of-the-brokered-flow-through-private-placement/

Those 2,760,000 shares of flow-through private placement stock became free trading on 14 March. Clifton Star has dropped about 55% in one month.  The stock price dropped from .78 to as low as .35 today. Do the math. Of course, part of this is due to the poor market conditions during this time. The other part is due to so many flow-through shares becoming free trading at the same time.  It is simple supply and demand. If there is a huge wall of stock for sale of a thinly-traded stock, the price will go down. 

Now we see that the CEO and the board of directors have awarded themselves 725,000 stock options on 15 April, the exact date of the biggest one day drop of the gold price in history. Awarding themselves stock options at this time appears tasteless and self-serving. Management should be avoiding even the appearance of wrong-doing. What are they showing they are most focused on - the falling stock price or their stock options?

I am completely knackered by these bad decisions which were approved by Mr. Bouchard and the board of directors.  How long are you going to rationalise these bad decisions and keep quiet about management's part in the severe erosion of the value of your stock?

Here are the email addresses for you to speak up and tell them exactly what you think of their decision to award themselves stock options, and their decision to issue millions of shares on a flow-through basis. While you're at it, tell them all exactly what you think of their bolloxed negotiations with Osisko. As shareholders we all deserve better communication about this. 

I recommend that any correspondence be sent to all email addresses simultaneously:

Mr. Michel Bouchard, president/CEO  [e-mail]

Ross Glanville, director                         [e-mail]

Philip Nolan, director                             [e-mail] 

Peter Gundy, director                             (cannot find email address. Try using [e-mail])

Yves Harvey, director                              (cannot find email address. Try using [e-mail])

 

jolgas2