The Executive Committee believes that the Dissidents are promoting their own interests, and that some may have obtained confidential information about Asante that is not available to all shareholders. Shareholders are cautioned to take no steps in relation to matters which may be raised by the Dissidents.
The formation of the Executive Committee follows an unsuccessful stealth proxy solicitation campaign (the “Stealth Campaign”) in advance of the Annual General Meeting of shareholders (the "Meeting") held on
Members of the Executive Committee
The Executive Committee consists of five of Asante’s nine directors. All but one of the members of the Executive Committee were targeted for removal from the Board in the Stealth Campaign. The mandate of the Executive Committee includes overseeing the general business of the Company as well as investigating matters related to the Meeting and the Stealth Campaign.
The Executive Committee members are:
Alex Heath (Chair), Asante’s lead independent director;Carsten Korch andRoger Norwich , both independent directors; andDouglas MacQuarrie (Chairman of the Board and former CEO) andNadia Abdul Aziz , both non-independent directors.
The members of the Executive Committee are concerned that two directors who are not members of the Executive Committee are assisting the Dissident group and that their interests might not be aligned with of the interests of Asante and its shareholders.
The two directors, along with all of the other directors of Asante, approved the Company’s management information circular dated
The votes of those shares, combined with attempts to limit the number of directors to three, made it clear to the Executive Committee that the two directors participated in the Dissidents’ Stealth Campaign to take control of the Company without paying fair market value.
The Company was not made aware that the Dissidents would be attending the meeting and voting in person until after the proxy cut-off time on
Advisors
The Company has engaged
The Company has filed a report of voting results on all resolutions voted on at the Meeting under the Company's issuer profile on SEDAR at www.sedar.com.
For further information please contact us at info@asantegold.com.
About
Asante is a gold exploration, development and operating company with a high-quality portfolio of projects and mines in
About the
Bibiani is a historically significant gold mine situated in the western north region of
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Chirano is an operating open-pit and underground mining operation located in western region of
Cautionary Statement on Forward-Looking Statements
This news release contains forward-looking statements. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements, including the resources, reserves, exploration results, and development programs. Factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to, variations in the nature, quality and quantity of any mineral deposits that may be located, the Company’s inability to obtain any necessary permits, consents or authorizations required for its planned activities, the Company’s inability to raise the necessary capital or to be fully able to implement its business strategies, and the price of gold. The reader is referred to the Company’s public disclosure record which is available on SEDAR (www.sedar.com). Although the Company believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except as required by securities laws and the policies of the securities exchanges on which the Company is listed, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
LEI Number: 529900F9PV1G9S5YD446. Neither IIROC nor any stock exchange or other securities regulatory authority accepts responsibility for the adequacy or accuracy of this release.
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