OTCQX:DMMIF - Post by User
Comment by
merlin991on Aug 08, 2019 10:32am
104 Views
Post# 30006555
RE:Circling the wagons...
RE:Circling the wagons...Another message from Tad:
https://www.siliconinvestor.com/readmsg.aspx?msgid=32275363 Here's another example of the deceptive and underhanded way that Core Gold Lead Director Gregg Sedun, and the other directors, including now CEO Mark Bailey, as well as CFO Sam Wong did eveything in their power to discourage and subvert any competing bid for Core Gold in favour of the Titan MInerals plan of arrangement. This one is a truly despicable piece of legalese perpetrated against the long term shareholders of Core Gold. Thanks to Keith Piggott's disclosure, everyone now knows that Zhaojin Mining had brought forth a C$4 million offer of financing in February 2019 at $0.45 for 8,888,888 shares, as an initial investment in Core Gold. The significance of the number 8 is not lost on this shareholder as "8" in the Chinese culture signifies "wealth, fortune, prosper". Multiples of 8 are even better. So, why did Core Gold directors Gregg Sedun, Mark Bailey, Leonard Clough and Javier Reyes, as well as CFO Sam Wong allow the following clause to be included in the Subscription Form that Zhaojin Mining was provided to complete their C$4 million funding to Core Gold ? The subscription form contained a covenant that bound Zhaojin Mining to vote in favour of the Titan Minerals plan of arrangement. Does it not seem strange that this stipulation should be included in an initial investment by another company potentially bringing a far superior offer to Core God than that being offered by Titan Minerals ? . "6. Voting Support Covenants of the Subscriber ..... (c) The Subscriber convenants and agrees in favour of the Corporation that, until the earlier of; (i) the closing of the Arrangement and (ii) the date this section 6 ceases to be applicable, that the Subscriber shall : (i) attend (either in person or by proxy) the Core Gold Meeting (including any adjournments and postponements thereof) and at the Core Meeting vote or cause to be voted, in each case, to the extent that they have a right to vote at the Core Meeting (i) all of the Subscribed shares and (i) and further Common Shares acquired by or issued to the Subscriber on or following the date hereof (collectively, "Subject Shares") in favour of the the Arrangement, the Core Arrangement Resolution and all matter related thereto contemplated by the Arrangement, and allow its Core Common Shares which have a right to be counted for the purposes of determining whether a quorum is established at the Core Meeting to be counted as present for such purposes; ...." . A copy of the Subscription Agreement Form for Zhaojin Mining's potential C$4 million initial investment in Core Gold can be found on pages 347 - 399 of Keith PIggott's First Affidaviit submitted to the BC Supreme Court. Zhaojin Mining was contemplating their own potential US$100 million offer of partnership with Core Gold for a 20% equity stake and 60% share of the Dynasty Goldfields Project, as opposed to the pathetically contrived and scurriously deceptive AUS$72 Million valued "merger" offer from Titan MInerals, which would have seen Core Gold shareholders stake in the newly merged company fall to less than 35% within the first year of planned dilution announced by Titan Minerals. Does anyone, in their honest opinion, feel that these directors, and CFO Sam Wong, were executing their fiduciary duties and ACTING IN THE BEST INTERESTS of the company and its shareholders by inserting this clause in the Subscription Form that Zhaojin Mining was supposed to accept ? Why would Zhaojin Mining ever accept this stipulation and vote in favour of the Titan Minerals plan of arrangement when Zhaojin Mining was contemplating a partnership with Core Gold ? The words "conspire" and "criminal" come to mind. Just my opinion, and I could be wrong .... but I doubt it. | |