Alexandria Minerals Corp ALXDF

RE:AZX Sets Record Straight on Events Leading to EO firing!

[NextPhase]

Thanks easycoder,

Well, I think we have finally figured out why they were taking so long with the new RE update. :-)

Hmm... my honest thoughts

• This proposed financing was considered and rejected by the Board, following receipt of advice from its financial and legal advisors and advice from the financial advisors to the Special Committee. <- This has to be Sprott advisors.
• Since the BoD didn't authorize the financing, does that mean Eric Owens liable for these promises?

Under his contract with AZX, Owens agreed that, if he ceased to be President and CEO of the Company, he would resign as a member of the Board. 

• If Eric Owens doesn't resign from the BoD, does that mean shareholders have to vote him out in a special investor meeting or is it to the courts with contract law?
• Umm, why did Eric Owens think this was a good idea? :-)
• Thank goodness the BoD has been transparent and proactive on the insider trading suspicions.

The Company reserves all of its legal rights in relation to Owens, and will take such measures as are appropriate to address his misconduct, including through the courts if necessary. 

• Eric Owens, take the L on this, c'mon! 

The Special Committee’s investigators are continuing to examine the conduct of other Company personnel who worked closely with Owens in connection with the unauthorized financing.

• I take this to mean they are investigating Mary Vorvis and Mario A. Miranda

Well, I will eat crow and admit I was completely wrong on this. GH's view of the situation was astonishingly accurate, and I feel bad now giving Eric Owens the benefit of the doubt. :-(  It honestly makes no sense to me why he would defy the Special Committee, which can only be attributed to his lack of character and ethics, especially, since he hasn't just gone away quietly after being caught trying to undermine the BoD.

NP