Vote Your GOLD Proxy Today
TheFounders and managers of RX Exploration Inc. (TSX-V: RXE) (OTCQX: RXEXF) ("RX Exploration" or the "Company") Bob Bannerman,Mike Gunsinger, Murray Nye and Max Polinsky ("Concerned Shareholders"), announced today that they are in the process of mailing and have filed a concerned shareholder information circular that provides shareholders with compelling reasons to support their nominees (the "Concerned Shareholder Nominees").
While the Company has experienced operational success, we, as current and former management members (with the exception of Bob Bannerman), and as fellow shareholders of the Company, have struggled to work with the board of RX Exploration. After many attempts to resolve the issues civilly and internally, the Concerned Shareholders have come to the conclusion that the Board must be replaced in order for the Company to continue on its successful trajectory and to maximize shareholder value. The Concerned Shareholders have lost confidence in the Board.
The Concerned Shareholder Nominees plan to bring the Drumlummon mine into production as soon as possible, whereas we believe that the current board will bog the Company down with exploration expenditures and the consequent delays in production.
Murray Nye, Director, President and CEO, said, "Simply put, the Concerned Shareholders, as current and former key management members of the Company, have lost confidence in the Board. We need directors who have the required expertise in production to successfully move the company to the next stage."
The Concerned Shareholder Nominees include current and former key members of RXE management -- Mike Gunsinger, Murray Nye and Max Polinsky -- as well as long time supporting shareholder, Bob Bannerman. Not only do these nominees have strong qualifications individually, collectively, they are the founders of the Company. Together, these individuals identified Drumlummon as a mine worthy of development and made considerable efforts to finance its purchase for RX Exploration's benefit. Additionally, the Concerned Shareholders are nominating Patrick Gorman, Ben Porterfield and Franco Cazzola, who will be strong independent directors.
"We recognize that shareholders do not want a proxy fight. If we truly believed the Company could operate with the current Board, we would never have launched this contest. In our view, however, there is no choice. The Company needs a new Board," said Murray Nye, Director, President and CEO.
The Concerned Shareholder Nominees' vision is to generate increases in revenues sooner, creating greater value for shareholders over a shorter period of time, while impressively distinguishing RX Exploration in the competitive junior mining exploration market. Shareholders are being asked to vote their GOLDproxy today to support the Concerned Shareholder Nominees and enable them to protect what has been built and to move forward into the production stage.
The Concerned Shareholders have retained Ogilvy Renault LLP and Kingsdale Shareholder Services Inc. to assist them.
Contacts:
Shareholders Please Contact:
Kingsdale Shareholder Services Inc.
Beverly
Brooks, 1-888-518-6812
contactus@kingsdaleshareholder.com
