Arcan Resources Ltd ARNBF

RE:Why Did they Consult No One ?

[hardeehar]

As the saying goes - 'Something smells awful in the state of Denmark'.

There are too many red flags popping up everywhere around this deal.  Arcan is trying way too hard to sell this 'strategic restructuring' deal to the retail investment community.  If the deal was so good then it would sell on its own merit.  But the reaction by the market since they made the announcement shows the a complete lack of confidence.  Arcan is selling out just when it appears that they have turned things around.  No wonder Aspenleaf is jumping all over this - the production is stable under waterflood, the infrastructure is in place, and well IP results from last winter's drilling program exceeded expectations.   So why are they so eager to sell out now?  Just to make a fast buck with the $2 million executive compensation awarded as a result of the change-over?  I wouldn't put it past them...    

Then you have one of the major shareholders - Lightstream - making their position known they aren't voting for the deal.  Even though they did not elaborate LTS must have compelling reasons as to why.  My guess is that Crescent Point is of the same opinion.  Together they can vote down the deal handily.  Which is why I think Arcan is pushing all common shareholders to come out and vote Yes - for without us casting our vote they know the deal won't get voted through.

I am going to wait until the very last minute before I cast my vote, and then I may just abstain from voting, as I really don't believe Arcan Management are looking out for shareholder's best interest's over their own (and AspenLeafs).





anymore that they have shareholder's best interests in mind