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Wildcat Exploration Provides Shareholders With Facts in Dispute with Dissidents
Wildcat Exploration Provides Shareholders With Facts in Dispute with Dissidents.
About this update from Fuse Battery Metals Inc
[{"type":"text","content":"\n\n\n\nTSX-V Trade Symbol: WEL\n\n\nWINNIPEG, March 29 /CNW/ - Wildcat Exploration Ltd. announced today that\nits Board, excepting Shlomo (Sol) Prizant, has mailed a letter to all\nshareholders providing additional information for shareholders to consider\nprior to submitting their proxies for the Company's Special Meeting to be held\non April 12, 2007.\n\n\nExcerpts from the letter to Wildcat shareholders are below. The full text\nhas been filed with regulators and is available at www.sedar.com.\n\n\n March 28, 2007\n\n TRUST THE FACTS\n\n\nTo Our Fellow Wildcat Shareholders:\n\n\nBy now you may have received proxy materials from a small group of\n\n\ndissident shareholders who are seeking to replace your Board of Directors\n\n\nand take control of Wildcat Exploration Ltd. The dissidents are led by\n\n\nShlomo (Sol) Prizant, the former President and CEO of Wildcat who was\n\n\nterminated for cause in January 2007, and Yes Forex Limited represented\n\n\nby David Danziger, who is a principal of the accounting firm Prizant\n\n\npurported to install as the Company's auditors.\n\n\nWhile the dissident circular makes a number of claims, they are not\n\n\nsupported by the facts:\n\n\nFACT: The decline in Wildcat's share price highlighted by the dissidents\n\n\ncoincides with the sale of about 362,000 shares by Yes Forex in the past\n\n\nsix months, including 135,000 shares since February 21, 2007. These sales\n\n\nclearly put downward pressure on Wildcat's share price and are not\n\n\nconsistent with the dissidents' claim to be interested in "maximizing\n\n\nshareholder value" - at least not for shareholders other than themselves.\n\n\nFACT: Prizant did not receive Board or Audit Committee approval before\n\n\npurporting to replace the Company's auditors with the firm headed by his\n\n\nassociate Danziger.\n\n\nFACT: Prizant and Danziger discussed their intention to replace the Board\n\n\nby launching a proxy contest while Prizant was CEO and Danziger's firm\n\n\nwas purportedly the Company's auditors - long before Prizant was\n\n\nterminated and before he sued the Company.\n\n\nFACT: More than a week before the publication of the dissidents'\n\n\ncircular, Prizant's lawyers were contacted by PricewaterhouseCoopers LLP\n\n\nas they continued their investigation of his activities while CEO. To\n\n\ndate, Prizant has not resp...