Business
Concerned Shareholders of Azimut Exploration Inc. Question the Company's Business Strategy and Request for Shareholder Engagement and Improved Governance
Vancouver, British Columbia--(Newsfile Corp. - March 3, 2023) - Coloured Ties Capital Inc. (TSXV:...
About this update from Coloured Ties Capital Inc
[{"type":"text","content":"Concerned Shareholders of Azimut Exploration Inc. Question the Company's Business Strategy and Request for Shareholder Engagement and Improved GovernanceVancouver, British Columbia--(Newsfile Corp. - March 3, 2023) - Coloured Ties Capital Inc. (TSXV: TIE) (OTC Pink: APEOF) (FSE: 97A0) (\"Coloured Ties\" or the \"Company\") and privately held Bullrun Capital Inc. (\"Bullrun\") (Coloured Ties and Bullrun together the \"Concerned Shareholders\") are providing the following open communication to the board of directors and management of Azimut Exploration Inc. (\"Azimut\"). The Concerned Shareholders are substantial shareholders of Azimut. Kal Malhi, CEO of the Company and Bullrun, has made numerous attempts to engage management of Azimut, including CEO Jean Marc Lulin and the rest of the Board of Directors (\"the Board\") in conversations to encourage disclosure of the Azimut exploration plans and activity on the extensive critical mineral land holdings in Quebec. The numerous attempts to engage with management and the Board have had no success and have been met with zero acknowledgement minimal or no response. It is also the Company's understanding that Mr. Jean Marc Lulin has refused to engage with other junior mineral exploration companies who are active in critical mineral exploration in the Province of Quebec and who own mineral claims that adjoin or are in the midst of Azimut's vast critical mineral claim blocks. This is a direct neglect of Mr. Jean Marc Lulin's obligations to assess the potentiality totality of information pertaining to of Azimut's critical mineral land claims and obligations to gather all information to guide in his decision making. The Concerned Shareholders, through their legal counsel, requested shareholder engagement together with a request for board representation with no response to date from any one of Azimut 's officials. Specifically, the Concerned Shareholders requested: TO address the lack of shareholder engagement, and to ensure good corporate governance it is our clients' request to seek board representation on the board of directors of Azimut. Our client would request that TIE and Bullrun nominate two directors to the Board of Directors of Azimut to ensure that sound business practices and the company commitment to shareholder engagement is HONORED. Our client would provide the nominee identity...