Business
Minority Dissident Shareholder Attempting to Hijack Control of Canagold
VANCOUVER, BC / ACCESSWIRE / June 16, 2022 / Canagold Resources Ltd. (TSX:CCM)(OTCQB:CRCUF)(F...
About this update from Canagold Resources Ltd
[{"type":"text","content":"Minority Dissident Shareholder Attempting to Hijack Control of CanagoldVANCOUVER, BC / ACCESSWIRE / June 16, 2022 / Canagold Resources Ltd. (TSX:CCM)(OTCQB:CRCUF)(Frankfurt:CANA) announces that a minority dissident shareholder based in Dubai, UAE, (the \"Dissident Shareholder\") is trying to take over Canagold Resources Ltd. (\"Canagold\" or the \"Company\") by hijacking control of your Board of Directors.Dissident's Attempt to Seize Control of Board and CompanyThe Dissident Shareholder has nominated three new directors (the \"Dissident Nominees\") out of five total directors to try and seize control of the Company. If the Dissident Nominees are elected, you run the risk that their hand-picked and interlocked board nominees with limited Canadian board experience will represent only the Dissident Shareholder rather than the Company and all of its shareholders. You have the ability to stop this completely unjustified and self-serving minority dissident action by voting your shares for management's nominees to the board at Canagold's upcoming annual and special of shareholders on July 19, 2022.Shareholders are encouraged to read Management's letter to shareholders and information circular (\"Management Materials\") and vote FOR Canagold's Board nominees using only the YELLOW Proxy. Mailing of the Management Materials have commenced and can be found at www.canagoldresources.com/2022AGM.So why is the dissident minority shareholder doing this? One has to look no further than Canagold's news release, issued on June 14, 2022, which highlighted the discovery of yet another new high-grade gold vein at the Company's core asset, the New Polaris gold mine project located in northern British Columbia. In fact, New Polaris is one of the highest grade gold discoveries in Canada, which makes it a very desirable asset.Management Successfully Advancing New PolarisFor the past two years, your board of directors (the \"Board\") and management team have successfully advanced the New Polaris gold project towards a feasibility study. Management's execution and the Board's oversight of the identification and testing of the BIOX process as a key to unlock metallurgical recoveries, and the recent infill drilling programs to expand and upgrade the gold resources, have confirmed consistently positive results.Management has conducted continuous baseline stud...