VanadiumCorp wishes to announce a Cease Trade Order (CTO) has been issued by the British Columbia Securities Commission (BCSC)), as principal regulator, as a result of the Company’s failure to file its annual audited financial statements for the year ended October 31, 2020.
VANCOUVER, BRITISH COLUMBIA -2013-04-12
Mr. Wim Bakker of the concerned shareholders reports
CONCERNED SHAREHOLDERS DENIED ACCESS TO REGISTERED LIST OF SHAREHOLDERS, REGISTERED SHAREHOLDERS DENIED RIGHT TO VOTE FOR CHANGE
Shareholders of PacificOre Mining Corp., please take notice that the concerned shareholders of the company mailed their information circular yesterday to shareholders holding shares in Canadian brokerage accounts who have requested to receive proxy materials.
The concerned shareholders will be mailing their dissident information circular today to shareholders in the United States who hold shares in U.S. brokerage accounts.
In order to mail to registered shareholders, being those holding share certificates, the concerned shareholders have requested from the company a list of registered shareholders. While the company is required to “promptly” provide such information upon request according to the Business Corporations Act (British Columbia), the board of directors of PC has failed to provide such. Whether this is an attempt to deny registered shareholders the right to vote for change or management trying to entrench itself, the concerned shareholders contend this is further evidence that change is necessary.
Management cannot deny shareholders the right to vote for change. While management has failed to file its proxy materials with the regulatory authorities, the concerned shareholders have filed their dissident information circular and related materials with regulators. Shareholders wishing to review these documents can find them at SEDAR under the company’s profile. Further, registered shareholders wishing to vote for change can find a green proxy and vote for change by downloading a copy of the proxy at SEDAR, then signing, dating and returning the proxy no later than 2 p.m. (Vancouver time) on Wednesday, April 24, 2013, or in the case of any adjournment or postponement of the AGM, not less than 48 hours, excluding Saturdays, Sundays and holidays, prior to the time fixed for the reconvened annual general meeting to Computershare Trust Company of Canada (transfer agent for the company):
By fax: 1-866-249-7775 (in North America) or 1-416-263-9524 (outside North America)
By mail: Computershare Trust Company of Canada, attention proxy unit, 9th floor, 100 University Ave., Toronto, Ont., M5J 2Y1
Management continues to operate the business in its own best interests, incurring $247,980 in administrative expenses while $46,085 was spent on exploration during the first quarter of 2013. Even more egregious is the fact that the board of directors saw fit to grant the company’s chief executive officer a raise from $16,500 per month to $19,500 per month, according to its first-quarter filings, an almost 20-per-cent increase, while shareholder value is being destroyed. Further, the board of directors of Pro Minerals, all of them also directors of the company, have not only wiped out any value in Pro Minerals, their related-party interests continue costing the company, with further charges for bad debts of $55,500 in the first quarter without any explanation. The concerned shareholders can’t let the current management and board destroy the company as they did Pro Minerals.
Vote for change.
We seek Safe Harbor.