VANCOUVER, B.C. January 26, 2018 – East Asia Minerals Corporation (TSXV-EAS) (“East Asia Minerals” or the “Company“) provides background on the adjournment of the Annual General Meeting and the deficient disclosure of the dissidents, Vishal Gupta and Patrick Cronin (the “Dissidents“).
As previously announced, the Annual General Meeting (the “Meeting“) has been adjourned by an order of the BC Supreme Court to Thursday, February 1, 2018 to allow shareholders more time to address the additional disclosures provided by the Dissidents. These additional disclosures arise as a result of concerns and questions raised by the Company in respect of the Dissident’s prior public disclosures.
Shareholders are encouraged to read the Company’s letter to the Dissidents requesting answers in regard of the following, among other things:
- The failure to disclose, as required by law, the identity and arrangements with the “other shareholders” whom the Company had been told comprised the Dissident group, including several parties with histories of serious regulatory sanctions;
- The failure to disclose, as required by law, the number of shares owned and controlled by the above group;
- The failure to disclose, as required by law, who is bearing the costs of the Dissident campaign (which the Dissidents expect to seek reimbursement from the Company);
- Misleading biographical histories of the Dissident nominees, including the omission of material details such as the serious regulatory sanctions against Mr. Cronin.
- Deficiencies in the Dissident blue proxy including the use of that proxy by the Dissidents without specific instructions from the appointing shareholders;
- Possible unlawful solicitation by the Dissidents prior to their filing required disclosures with the securities regulators; and
- The failure to comply with other applicable securities disclosure requirements and filings;
The Company’s letter to the Dissidents can be found on the Company’s website here.
Although Dissidents disputed that their disclosure was deficient, the Dissidents nonetheless prepared and filed a supplemental information circular and new form of proxythe night before the proxy cut-off.
The Company is continuing its review of these materials in light of of its earlier concerns to communicate with the securities regulatory authorities.
How to Vote
If you have already voted management’s WHITE proxy in support of the current Board, no further action is required as your proxy will remain in effect. Discard any proxies received from the Dissidents.
If you have not voted or want to change your vote and support the recently renewed Board who is currently in place, you may vote online or by telephone by following the instructions found in the management’s WHITE proxy card. The later dated proxy card will count.
Vote using management’s WHITE proxy prior to the new deadline on Tuesday, January 30th at 10 a.m. (Vancouver Time).
Further Information or Assistance
For more information or if you require assistance with voting, please contact the Company’s proxy solicitation agent, Laurel Hill Advisory Group at:
Laurel Hill Advisory Group
North America Toll Free: 1-877-452-7184
Collect Calls Outside North America: 1-416-304-0211
Email: assiatance@laurelhill.com
or
Mark Sommer
East Asia Minerals Corporation
Telephone: 1-604-684-2183
Email: info@eastasiaminerals.com
The Company cautions readers that the any production decision made by the Company will not be based on a NI 43-101 feasibility study of mineral reserves that demonstrates economic and technical viability and as such, there may be involved increased uncertainty and various technological and economic risks outlined in the “forward looking statement” below
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain statements in this News Release, which are not historical in nature, constitute “forward looking statements” within the meaning of that phrase under applicable Canadian securities law. These statements include, but are not limited to, statements or information concerning future work programs, results and timing of any work programs, the Company’s performance or events as of the date hereof. These statements reflect management’s current assumptions and expectations and by their nature are subject to certain underlying assumptions, known and unknown risks and uncertainties and other factors which may cause actual results, performance or events to be materially different from those expressed or implied by such forward looking statements. Those risks include the interpretation of drill results; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with our expectations; commodity and currency price fluctuation; failure to obtain adequate financing; regulatory, recovery rates, refinery costs, and other relevant conversion factors, permitting and licensing risks; general market and mining exploration risks and production and economic risks related to design and engineering, manufacturing, technological processes and test procedures and the risk that the project’s output will not be salable at a price that will cover the project’s operating and maintenance costs. Forward-looking statements should not be construed as investment advice. Readers should perform a detailed, independent investigation and analysis of the Company and are encouraged to seek independent professional advice before making any investment decision. Accordingly, readers should not place undue reliance on any forward-looking statement. Except as required by applicable securities laws, the Company disclaims any obligation to update or revise any forward looking statements to reflect events or changes in circumstances that occur after the date hereof.