Sent to the TSX .. August 20, 2013From: xxxxxxxxxxxxxxxx Sent: Tuesday, August 20, 2013 9:29 AM To: info@tmx.com. Subject: EGZ/ENZR To Whom It May Concern: Per Energizer Resource's news release this morning, the company is requesting that almost 3 million warrants have their exercise price revised from 50 cents down to 23 cents, and that the expiry date be extended to November 15, 2015. I would like to submit to you that the receivers of these warrants agreed to the original terms and conditions. By allowing these terms to be revised, both the TSX and Energizer Resources would be bringing additional harm to the shareholders of the company. Energizer has a history of revising warrant and option exercise prices. They have been adding significant numbers of options all to shareholder detriment. They have continuously lowered their options as the stock price has dropped from $1.30 on down . presently they let the stock price drift down to $.11 , then pounced and issued themselves 29 million more options ,They promise they will talk about the Company to Brokerages and prospective shareholders , to tell the EGZ/ENZR story. But it never materializes The CFO Schler Dumped hundreds of thousands of shares @ $1.30 right after they took over EGZ/ENZR Then Readjusted the options price from $1.30 down and did it twice with the same options. That sale at $1.30 killed the stock price down to below $.50 and it never recovered ! they lavish themselves with Large Salary increases ( 2012 10k ). The Same Management is also the same team on 3 other companies , Honey Badger , McDonald Mines and Red Pine Exploration Plus EGZ/ENZR they have given themselves Millions of Options in all the Companies , How can the same management team handle all these companies and accurately keep track of the time spent on each company. So that their salaries can be documented on which company is paying for their time. In my opinion , They In my opinion, have used EGZ/ENZR as their personal piggy bank . EGZ/ENZR or any of the other 3 companies have earned one cent in revenue , yet the Management team gets bonuses and millions of options each year brentnykoliation@energizerresources.com, got a $60,000 increase in 2012( 10K).and keeps telling shareholders to "Stay tuned " for years .. When will it end? Again...the original receivers of the warrants agreed to the original terms and they should not be permitted to simply change it to benefit themselves to the detriment of shareholders. They should be held to the agreement they made! Management couched this warrant revision in with excellent news regarding metallurgy, and yet long term shareholders like myself ( 6 years ago) who bought shares legitimately on the open market at higher prices are suffering because of these types of actions by management. Please do not permit Energizer Resources management to have the exercise price of these warrant revised down to 23 cents, and please do not allow them to extend the expiry date. These people agreed to the terms, and by having the terms unjustly revised, they are bringing harm to current shareholders. Thank you for your consideration XXXXXXXXXXXX