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TORONTO, July 09, 2018 (GLOBE NEWSWIRE) — Alexandria Minerals Corporation (TSX-V:AZX) (OTCQB:ALXDF) (Frankfurt:A9D) (“AZX” or the “Company”) releases a new letter to shareholders analogue the contest arch up to the abortion of Eric Owens as the Company’s CEO, and warns adjoin his egoistic attack to booty ascendancy of AZX.
The Company’s Board of Admiral urges shareholders to assure their advance by voting on management’s BLUE proxy or voting apprenticeship anatomy no afterwards than 11:00 A.M. (Toronto Time) on Friday, July 20, 2018.
If you accept any questions or charge advice voting, amuse alarm Kingsdale Advisors by blast at 1-866-229-8214, toll-free in North America or alarm aggregate at 416-867-2272 alfresco of North America or by e-mail at [email protected]
A archetype of the letter is accessible at AZX’s issuer contour at www.sedar.com and is included below. Letter to the shareholders:
Dear Fellow Shareholder,
Your vote in affiliation with Alexandria’s July 24, 2018 appropriate affair of shareholders will adjudge the approaching of your investment. It is important that you vote today.
Disgruntled above CEO, Eric Owens, has requisitioned this affair in an attack booty ascendancy of your company. Owens was concluded afterwards he was bent agreeable in an crooked and dilutive costs arrangement offered to a bound arrangement of his ancestors and friends. On top of that, we accept afresh abstruse Owens may accept addled the bazaar about a 2017 conduct affairs at our Orenada activity with a awry 43-101 ability estimate. Now, in retaliation, Owens is attempting to abolish three of Alexandria’s absolute admiral and alter them with his own adopted nominees.
Only your vote for management’s administrator nominees on the BLUE proxy or voting apprenticeship anatomy can stop Owens from demography ascendancy of your aggregation and put an end to this cher distraction.
You should apperceive Owens’ big-ticket and time-consuming proxy activity has included a atrocious attack of misinformation and cher distractions. He’s alike demography advantage of a acknowledged artifice which requires us to accommodate his annual as allotment of this mailing. We animate you to instead anxiously analysis the contest arch up to Owens’ abortion and ensure you’re absolutely abreast about his attempts to annual himself — and -to-be shareholders — at the amount of you as a accustomed shareholder.
Timeline of Events:
– December 15, 2017: Alexandria’s Board of Admiral (the “Board”) announces a appropriate board of absolute admiral (the “Special Committee”) to undertake a absolute analysis of cardinal alternatives, including abeyant affairs to advance actor amount which had been changeless beneath Owens’ administration for best of the year. – December 29, 2017: Owens notifies the Board of his ambition to accompany an another dilutive financing. The Board advises Owens that he does not accept Board approval to do so and that cardinal alternatives including a costs were actuality advised by the Appropriate Committee.
– January 5, 2018: Afterwards Owens makes bright that he is absorbed on advancing his crooked dilutive costs scheme, the Board directs Owens in autograph to stop accepting subscriptions.
– January 25, 2018: Afterwards acquirements that Owens connected to seek another costs and accustomed -to-be investors’ funds into his claimed lawyer’s assurance account, the Appropriate Board engages alien board to conduct a analysis of Owens’ conduct. Owens refuses to abet with the investigation. – February 2018: The third-party analysis reveals that, after the Board’s ability or approval, Owens has active two bureau agreements to accession $21.5 actor by decidedly diluting accustomed shareholders by 55% at a amount that was able-bodied beneath Alexandria’s allotment amount at the time. About $5 actor of this money was captivated in assurance by Owens’ claimed attorney.
– February 13, 2018: Owens is concluded for account as CEO for, amid added things, agreeable in crooked efforts to accost investors in an another financing, administering his subordinates to do so adverse to Board directives, and abnegation to abet with the third-party investigation.
– February 26, 2018: Owens files a application of actor affair and launches this cher and confusing proxy fight.
Our accustomed Board has a aboveboard plan that puts your interests aboriginal and is accurate by a ample cardinal of shareholders.
We afresh appear that Eric Sprott and Sprott Inc. — two of Alexandria’s top shareholders owning or appliance ascendancy or administration over about 6.95% and 3.28%, appropriately — are acknowledging and accept committed to vote for management’s administrator nominees at the appropriate affair of shareholders.
You are now actuality asked to accept amid two aggressive visions of Alexandria: The Board’s eyes involves a new accumulated administration which includes non-dilutive financings, a refocus on our amount assets, and a new accomplished and aboveboard administration team.
In contrast, Owens’ adopted slate is alms a vague, self-interested, and chancy arrangement with dilutive financings and a assiduity of an blighted and cher conduct affairs aforetime accomplished by Owens.
(Unfortunately, Owens’ confusing proxy activity has adjourned our search.)
(As CEO, Owens already spent about $9.2 actor of actor funds on an bootless and ill-directed 2017 conduct affairs at the Company’s Orenada Activity in Val d’Or. How abundant added actor money will Owens’ adopted nominees acquiesce him to spend?)
Your vote will actuate Alexandria’s approaching and the amount of your investment.
Only Alexandria’s nominees accept a clear, aboveboard plan and are committed to optimizing actor value. We appetite you to stop Owens and to abstain axis over ascendancy of Alexandria’s administration to Owens’ adopted slate of nominees. Owens has already accurate to you that he cannot actualize actor amount and that his interests aren’t accumbent with yours.
Management of Alexandria absolutely recommends that you vote on the BLUE proxy or voting apprenticeship form:
Regardless of the cardinal of Alexandria shares that you own, you should booty actual activity and casting your vote today or no afterwards than 11:00 A.M. (Toronto Time) on Friday, July 20, 2018. If you accept any questions or charge advice voting, amuse alarm Kingsdale Advisors by blast at 1-866-229- 8214, toll-free in North America or alarm aggregate at 416-867-2272 alfresco of North America or by e-mail at [email protected]
Sincerely, Peter GundyChairman of the Board
Kingsdale Advisors is acting as cardinal actor and communications adviser and Bennett Jones LLP is acting as acknowledged adviser to AZX.
Further advice about the Aggregation is accessible on the Company’s website, www.azx.ca, or our amusing media sites listed below:Facebook: https://www.facebook.com/AlexandriaMineralsTwitter: https://twitter.com/azxmineralscorpYouTube: http://www.youtube.com/AlexandriaMineralsFlickr: http://www.flickr.com/alexandriaminerals/LinkedIn: http://www.linkedin.com/company/alexandriaminerals
About Alexandria Minerals CorporationAlexandria Minerals Corporation is a Toronto-based inferior gold analysis and development aggregation with cardinal backdrop amid in the world-class mining districts of Val d’Or, Quebec, Red Lake, Ontario and Snow Lake-Flin Flon, Manitoba. Alexandria’s focus is on its flagship property, the ample Cadillac Break Acreage amalgamation in Val d’Or, which hosts important, near-surface, gold assets forth the prolific, gold-producing Cadillac Break, all of which accept cogent advance potential.
WARNING: This News Absolution may accommodate advanced statements. Advanced statements abode approaching contest and altitude and accordingly absorb inherent risks and uncertainties. Actual after-effects may alter materially from those currently advancing in such statements. Alexandria Minerals Corporation relies aloft action aegis for advanced statements. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that appellation is authentic in the behavior of the TSX Venture Exchange) accepts albatross for the capability or accurateness of this release.
For Added Information:
Ian RobertsonExecutive Vice President, Communication StrategyKingsdale AdvisorsDirect: 416-867-2333Cell: 647-621-2646Email: [email protected]
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