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MOSQUITO ANNOUNCES THAT GLASS-LEWIS & CO., ANOTHER LEADDING PROXY ADVISORY FIRM, RECOMMENDS THAT SHAREHOULDERS VOTE FOR MANAGEMENT'S NOMINEES ON THE GOLD PROXY
MOSQUITO ANNOUNCES THAT GLASS-LEWIS & CO., ANOTHER LEADDING PROXY ADVISORY FIRM, RECOMMENDS THAT SHAREHOULDERS VOTE FOR MANAGEMENT'S NOMINEES ON THE GOLD PROXY.
About this update from Multi-metal Dev Ltd.
[{"type":"text","content":"MOSQUITO ANNOUNCES THAT GLASS-LEWIS & CO., ANOTHER LEADING PROXY ADVISORY FIRM, RECOMMENDS THAT SHAREHOLDERS VOTE FOR MANAGEMENT’S NOMINEES ON THE GOLD PROXYGlass-Lewis describes dissidents’ quantitative arguments as “unfounded” and “uncompelling” VANCOUVER, October 3, 2012 – Mosquito Consolidated Gold Mines Ltd. (“Mosquito” or the “Company”) (TSX-V: MSQ) announced today that Glass-Lewis & Co. has recommended that its clients vote FOR Mosquito’s nominees on the GOLD management proxy. Glass-Lewis & Co. is a leading independent international corporate governance analysis and proxy voting firm. Glass-Lewis focuses on the long-term financial impact of investment and proxy vote decisions, assisting investors to make sound decisions regarding proxy voting decisions. The recommendation from Glass-Lewis follows a similar recommendation from Institutional Shareholder Services Inc. (“ISS”), another leading independent proxy voting firm. Mosquito provided a summary ISS’ supportive recommendation in a press release dated October 1, 2012, and available at www.mosquitogold.com. In recommending that shareholders vote FOR Mosquito’s nominees on the GOLD management proxy, Glass-Lewis noted the following*: Regarding the factual basis of the dissidents’ claims and concerns: “Taken in sum, we find very little cause to support the Dissident's ongoing effort to assume control of the Mosquito board. As a starting point, we consider (the Dissident’s) quantitative arguments generally continue to vacillate between unfounded and uncompelling, with a troubling tendency to pair vague or entirely undisclosed figures with baseless and subjective language. In our view, a robust position supported by objective and well-disclosed financial data should not, by nature, be accompanied by any specious assessments. By that standard, we consider the Dissident's position on these matters suffers greatly.” Regarding the dissidents’ inability to present an original plan: “…the Dissident continues to submit plans that are, at best, largely duplicative of existing efforts by management to advance the CuMo project. As a result, we continue to hold the view that the Dissident has offered...