TORONTO, Dec. 9, 2013 /CNW/ - Concerned shareholders of Oremex Silver Inc. (Oremex or Company), led by Concept Capital Management Ltd. and Sprott Asset Management LP, announced today that they have filed on SEDAR an updated proxy circular for Oremex's upcoming annual general meeting of shareholders to be held on December 31, 2013 at 10:00 a.m. (Toronto time) at Wildeboer Dellelce Place 365 Bay St., Suite 800, Toronto, Ontario.
At the meeting, shareholders will be asked to vote on the election of directors and appointment of auditors. The concerned shareholders have called for the removal of all the current directors of Oremex due to lack of adequate oversight and mismanagement, and are proposing a new slate of fully independent nominees to the board of directors of Oremex (the board), which is comprised of Frank Högel, Allan Folk and Keith Stein.
At the requisitioned meeting originally called by the Company and held on November 26, 2013, the concerned shareholders received overwhelming support for the election of the above-mentioned proposed nominees. Due to the continuing pattern of questionable conduct by Oremex's management, the concerned shareholders are currently in the process of validating the results of that meeting in court. A court hearing has been set for December 18, 2013 but the matter may not be resolved in a timely manner before the December 31 meeting. To ensure that the Company's management cannot continue with their evasive and irresponsible actions through any additional delay tactics, the concerned shareholders are seeking support again to send yet another strong message to the Company's management.
The concerned shareholders are asking shareholders to support new independent nominees to the board at the annual general meeting of shareholders called by the Company on December 31, 2013.
Shareholders are urged to re-cast their votes in favour of the concerned shareholders' nominees before Friday, December 27, 2013 at 8:00 a.m. (Toronto time).
"It is evident that the shareholders agree with our nominees" indicated Frank Högel, of Concept Capital Management Ltd. "Through their cumulative board experience with public issuers and expertise in corporate development, corporate governance, capital markets and accounting, these nominees will be able to turn Oremex to a successful mining issuer."
If you experience any problems or require assistance voting your YELLOW form of proxy or voting instruction form, contact the concerned shareholders' proxy solicitor, Kingsdale Shareholder Services Inc., at 1-800-775-1986 toll-free in North America, or at 1-416-867-2272 outside of North America, or by email at [email protected].
SOURCE: Oremex Silver Inc. Shareholders
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