TORONTO, Nov. 26, 2013 /CNW/ - The concerned shareholders of Oremex
Silver Inc., led by Concept Capital Management Ltd. and Sprott Asset
Management LP, are pleased to announce the appointment of all their
director nominees to the board of Oremex at the requisitioned meeting
held today, November 26, 2013.
The new directors received overwhelming support from Oremex
shareholders, who echoed the concerned shareholders' call for change.
Based on company's own management discussion and analysis, finally
filed on November 25, the company admits to spending $985,783 in
administrative expenses and only $18,352 on exploration for a 9 month
period. This follows several years without advancing projects or
enhancing asset values. The company's mismanagement will now finally
come to an end as the new directors lead the company in a positive
"We are very pleased with the outcome of the meeting," said Frank Högel,
of Concept Capital Management. "It's obvious that Oremex shareholders
agree that a change is needed. The company's interests were never
aligned with us, its shareholders, and finally we can move forward for
the benefit of all shareholders. On behalf of the concerned
shareholders, we'd like to thank all of our supporters as we get Oremex
back to business."
The concerned shareholders are taking the necessary steps in validating
today's requisitioned meeting to ensure the new directors take their
new position immediately.
SOURCE: Concept Capital Management Ltd.
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