RE:RE:RE:RE:CEO Eric Owens fired by the Board !!Calgary63,
You must have been the the lucky person to be on EO's call list last night. Unlike others, including myself, simple e-mails on simple inquiries, to either EO and Vorvis went unanswered, not even an acknowledgement.
Two fatal flaws:
- IR is a mess, nobody at IR is taking care of the website.
- The last RE was in 2009, now it's 2018. No other company that I have invested in would take 9 years to try to get an update for the RE. Now he wanted another 9 years (that would be good for him, but not good for shareholders) to do some more drilling with ~$20M which he said he has lined up, and the money is sitting in escrow somewhere (he did not say that this equity financing is at the expense of 1/3 dilution of the company).
Personally I would doubt ver much that he has ~$20M in escrow, unless EO provided the name of the lead financial firms (presumably, not Sprott-related companies, lol) that have been arranging all this PP including the FT which would have to meet the Quebec provincial government requirements. Also, shareholders would have to be informed about the intention (and BoD approval has to be secured), prior to the actual arrangement. His open letter to shareholders made this appear too simple.
Next time you have a chance to talk to him, could you ask for the above financial details?
Also, does EO still wants to cling on to the seat on AZX BoD? Can the BoD just "un-nominate" him, and nominate ES as a new board member (ES just exercise enough wts, or just buy additional shares, to go over 10% to become an insider and ask for a seat on the board)?
GH
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Calgary63 wrote: P.S. Eric did call me last night even after all this went down. He was very polite and still remains on the BOD. Eric has good visions of where AZX should be without a quick take over or buy out or even a JV.. Eric knows the value of AZX.
Thanks.
C63