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Shareholders of Eco Oro Minerals Requisition Shareholders' Meeting to Reconstitute Board
Shareholders of Eco Oro Minerals Requisition Shareholders' Meeting to Reconstitute Board ...
About this update from Eco Oro Minerals Corp.
[{"type":"text","content":"\n\n\n\nShareholders of Eco Oro Minerals Requisition Shareholders' Meeting to Reconstitute Board\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen2{\nBORDER-BOTTOM:black 1pt solid; BORDER-LEFT:black 1pt solid; PADDING-LEFT:0.50em; PADDING-RIGHT:0.50em; VERTICAL-ALIGN: TOP; BORDER-TOP:black 1pt solid; BORDER-RIGHT:black 1pt solid\n}\n.prnsbls{\nBORDER-LEFT:black 1pt solid\n}\n.prnsbbs{\nBORDER-BOTTOM:black 1pt solid\n}\n.prnrbrs{\nBORDER-RIGHT:black 1pt solid\n}\n.prnpl6{\nPADDING-LEFT:0.50em\n}\n.prnsbts{\nBORDER-TOP:black 1pt solid\n}\n.prnpr6{\nPADDING-RIGHT:0.50em\n}\n.prntbls{\nBORDER-BOTTOM: black 1px solid; BORDER-LEFT: black 1px solid; BORDER-COLLAPSE: collapse; BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid\n}\n.prnvat{\nVERTICAL-ALIGN: TOP\n}\n.prntal{\nTEXT-ALIGN: LEFT\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, Feb. 10, 2017\n\n\n\nTORONTO, Feb. 10, 2017 /CNW/ - Shareholders (the \"Requisitioning Shareholders\") of Eco Oro Minerals Corp. (TSX: EOM) (the \"Company\") have today requisitioned the Board of Directors of the Company to call a meeting of shareholders (the \"Meeting\") for the purpose of reconstituting the Board by removing each of the incumbent directors and electing six new independent directors (the \"Shareholder Nominees\"). \n\nChange is Required\n\n\"Minority shareholders of the Company have for several months voiced their objections to the strategic direction pursued by the Board and management, which resulted in a 93.86% vote against the resolutions put forward by the Board at the November 3, 2016 shareholders' meeting. Simply put, the Board has refused to be responsive to shareholders and as such we have lost confidence in the Board and management. The directors engaged in a flawed process to enter into CVRs which are not 'market' and which prejudiced the rights and interests of the Company and its retail shareholders. Adding to a pattern of decisions that are not aligned with shareholder interests, management announced that they have been awarded an incentive plan equivalent to a CVR representing 7% of the GROSS proceeds of the A...