Just my 2 cents Yes, shareholders have a beef, and I agree the deal is shady. But it's incredibly ironic and hypocritical that smith would be leading the complaints that centre on a lack of transparency, a lack of disclosure, and with little to no regard for what is best for shareholders. Cmon man, how many times over the last at least 5 years have shareholders complained about Peter? I must have filed my complaints with Peter,with the board, the useless Bcsc, the useless tsx, and even the totally wrong jurisdiction, IIROC at least 10 times. I won't bother citing examples, long time shareholders know the scene. Yes I own fnc because of the interesting collection of assets IN SPITE of management and the disconnected board. Yes, it looks like it's going from bad to worse because of the "giveaway " dilution but if Peter is somehow parachuted back in courtesy of CIA getting active, the problem is not solved, we just shuffled the deck chairs on the titanic. Didn't Sheldon and pinetree try and steal fnc a long time ago and Peter got a second chance then? I'm hoping for a real white knight like cia but they've made it clear they just don't care about piddly fnc. So if I lose half the value of fnc assets from dilution but the new management actually does something, maybe it's still a win? 50% of something active is better than 100% of something dormant and slowly eroding away. Just my 2 cents. I agree there should be an agm and vote for this transaction by disinterested shareholders. The terms of the deal are very one sided because fnc shareholders have no vote. Having a vote should improve the terms 4:1 seems more like it than 6:1. That cr@ppy little zinc property will never produce at a profit if at all.
"misguided move by an entrenched Fancamp board and management team that claim this Transaction is for the betterment of the Company"