RE:RE:RE:Consolidation 6.5 to 1
First time posting - since the AuRico deal I am NOW an angry shareholder - have been a large shareholder for too long.
Yes there was an offer by Nord Gold for .096 ( I have been emailing them ) !!! You will see from
several sources ;
https://www.miningweekly.com/article/russias-nord-gold-makes-140-premium-bid-to-buy-canadas-carlisle-goldfields-2014-11-14
https://www.mineweb.com/mineweb/content/en/mineweb-gold-news?oid=259670&sn=Detail
https://www.snl.com/InteractiveX/Article.aspx?cdid=A-29851127-12842
https://www.miningweekly.com/article/russias-nord-gold-makes-140-premium-bid-to-buy-canadas-carlisle-goldfields-2014-11-14?utm_medium=twitter&utm_source=twitterfeed
https://www.finanznachrichten.de/nachrichten-2014-11/31997713-nordgold-requests-consent-to-make-140-premium-offer-to-shareholders-of-carlisle-goldfields-limited-256.htm
I was emailing & tweeting with management of CGJ but they have now shut me out. THEY are
only doing ( deal with AuRico ) things in THEIR best interest. Going with the AuRico deal rather than Nord Gold ( or any of the other 18 companies that have signed Confidentiality / Standstill Agreements with Carlisle Goldfields ) has cost us shareholders 17 million $ in market cap. In years CGJ may trade at 9 cents or better but I want my money out now so I can invest in " other " " better " stocks that have shareholder interests in mind. The AuRico deal is guaranteeing management several years of employment and that is why they went with the deal !!!
I have contacted the TMX Group, the OSC, and the SEC and encourage ALL shareholders to do the same.
The response from TMX Group was ;
TSX relies upon interested parties to bring to our attention, concern(s) that may well be a concern(s) to all shareholders of a listed issuer. Nevertheless, the results of an investigation, if any is undertaken, must and do remain confidential and will be discussed in confidence with the issuer, if necessary.
The response from the OSC was ;
I have referred your matter to the Corporate Finance Branch to further consider whether there has been any failure to comply with our regulation. Staff may contact you if they require additional information from you, but please note that our reviews and investigations are conducted privately. Any issues that staff may identify will be addressed with the issuer directly.
The responses from CDN Exchanges and Commissions seems to be one of secrecy so shareholders will NEVER know what is ( or isn't ) going on with THEIR companies.
I have not heard back from the SEC as of yet.
I do not understand why any shareholder of Carlisle would rather have their stock trade at 3.5 cents rather than get paid to sell ( and invest in another / better company if that is what they wish to do ) to Nord Gold or any of the other 18 companies that may be interested.
But, now with the AuRico deal in place no other company has any interest in making an offer for Carlisle - we must get the OSC or others to investigate the matter that Carlisle Management was NOT working in the best interest of their shareholders and have these deals overturned. The best outcome for shareholders would be to ;
- cancel the AuRico deal and all other deals management has made
- release all 19 companies from their Standstill Agreements
- let them bid for our shares
I have emails from management ( disclosed to me only ? - is this not in contravention to any rules about disclosure ? ) that says there WERE 18 other companies ( along with Nord Gold ) interested in our properties.
Shareholders need to stand up and be heard - we need to rid ourselves of self serving management and move on.
I am willing to share all correspondence I have had and if any lawyers out there are willing to help on this matter I am sure shareholders would love to hear from you.
Dave Adamchuk