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Mistango Abruptly Adjourns AGM after Announcing 82% of Shares Represented; Cancels Shareholder Vote Citing Lack of Voter Representation
Mistango Abruptly Adjourns AGM after Announcing 82% of Shares Represented; Cancels Shareho...
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[{"type":"text","content":"\n\n\n\nMistango Abruptly Adjourns AGM after Announcing 82% of Shares Represented; Cancels Shareholder Vote Citing Lack of Voter Representation\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\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, Sept. 11, 2019\n\n\n\nTORONTO, Sept. 11, 2019 /CNW/ - Orefinders Resources Inc. (\"Orefinders\" or the \"Company\") (TSX.V: ORX) attended Mistango River Resources Inc. (\"Mistango\") (CSE: MIS)  shareholder meeting on September 10, 2019 held at Mistango's offices in Kirkland Lake, Ontario. \nThe meeting was convened as scheduled at 10AM and began with meeting scrutineer, TMX Group, announcing that 82% of Mistango's outstanding shares have been voted and accounted for. Immediately following this, Mistango and meeting Chairman Donald Kasner abruptly adjourned the meeting thereby cancelling the shareholder vote. \nFor clarity, before adjourning the shareholder meeting, Mr. Kasner and Mistango's Board of Directors were fully informed of the results of the shareholder vote. They then cancelled the shareholder vote citing that 82% of shares represented was not sufficient.  We note that in Mistango's June 29, 2017 Annual General Meeting, only 39.6% of shareholders voted, which was accepted given that the results were in favour of current management.\nMr. Kasner and the Board now refuse to release the results of the shareholder vote which they called, hosted and chaired. Given the extremely high shareholder participation rate recorded by the independent scrutineer, Orefinders and any reasonable observer can only conclude that majority of shareholders voted in favour of Orefinders' proposed slate of Board of Directors (\"Orefinders Nominees\") and against the election of Mistango's incumbent Board. \nOrefinders' position is clear, the cancellation of a shareholder meeting without releasing the results, while citing low voter turnout, is an obvious attempt at continued management entrenchment. The tactics employed my Mistango's Board of Directors are an affront to the fiduciary responsibilities for directors of a public company. \nOrefinders also not...