Zenyatta Ventures Sets Date for Requisitioned Shareholder Meeting
Zenyatta Ventures Ltd. {TSX.V: ZEN}
Announced it will hold a special meeting of shareholders on 11 May 2018. The Meeting was requisitioned by certain shareholders holding in excess of 5% of the issued and outstanding shares of Zenyatta, and the purpose is to seek the removal of four directors of the company, including CEO Aubrey Eveleigh.
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Comment
After at first refusing the original petition on technical grounds, it’s good to see that management have now accepted the challenge and have set a date for the meeting.
I notice one of the original nominees is no longer standing.
It will be interesting to see if they use a proxy company to support them, if they do this will use up precious financial resources as such services are not cheap in Canada, up to around $200,000 cost, depending upon the work carried out of course.
We will follow this story with interest, if management sense they will lose they may resign beforehand.
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Zenyatta Ventures Ltd. Sets Date for Requisitioned Shareholder Meeting
THUNDER BAY, Ontario, March 21, 2018 – Zenyatta Ventures Ltd. {TSX.V: ZEN} announces it will hold a special meeting of shareholders (the “Meeting”) on 11 May 2018.
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The Meeting was requisitioned by certain shareholders holding in excess of 5% of the issued and outstanding shares of Zenyatta in accordance with the requirements of the Business Corporations Act (Ontario).
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The board of directors of Zenyatta presently consists of the following six individuals: Keith Morrison, Aubrey Eveleigh, Barry Allan, Sean Whiteford, Brian Davey and Brett Richards. The Company is at an exciting and critical stage that will require funding, organizational change and increased capacity for long term, sustainable growth. The Board and management have been very active recently to create a business plan that makes the most sense for a company like Zenyatta. We feel this plan will build a strong and healthy Company that’s well-positioned to dominate in the global nanomaterial space. Our mission statement is to become one of the world’s leading suppliers of high-quality carbon and graphene.
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The requisition shareholders are asking Zenyatta shareholders to vote to remove four current directors (Keith Morrison, Aubrey Eveleigh, Barry Allan and Sean Whiteford) and to replace them with three nominees of the requisition shareholders (Dr. Francis Dube, Eric Wallman and Brian Bosse).
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Shareholders as of 28 March 2018 will be entitled to vote at the Meeting. Shareholders will receive detailed information about the matters to be presented at the Meeting and how to vote in a management information circular in advance of the Meeting. Shareholders should read the information carefully before deciding how to vote. In the meantime, there is no need for shareholders to take any voting action.
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Should you have any questions about the Meeting please do not hesitate to contact the Company directly at Tel: (807) 346.1660 or Email: info@zenyatta.ca.
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To find out more on Zenyatta Ventures, please visit our website at www.zenyatta.ca
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CAUTIONARY STATEMENT: 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. This news release may contain forward looking information and Zenyatta cautions readers that forward looking information is based on certain assumptions and risk factors that could cause actual results to differ materially from the expectations of Zenyatta included in this news release. This news release includes certain “forward-looking statements”, which often, but not always, can be identified by the use of words such as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. These statements are based on information currently available to Zenyatta and Zenyatta provides no assurance that actual results will meet management’s expectations. Forward-looking statements include estimates and statements with respect to Zenyatta’s future plans, objectives or goals, to the effect that Zenyatta or management expects a stated condition or result to occur, including the expected timing for release of a pre-feasibility study, the expected uses for graphite in the future, and the future uses of the graphite from Zenyatta’s Albany deposit. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to, among other things, results of exploration, metallurgical processing, project development, reclamation and capital costs of Zenyatta’s mineral properties, and Zenyatta’s financial condition and prospects, could differ materially from those currently anticipated in such statements for many reasons such as, but are not limited to: failure to identify mineral resources; failure to convert estimated mineral resources to reserves; the inability to complete a pre-feasibility study; the preliminary nature of metallurgical test results; the inability to enter into offtake agreements with qualified purchasers; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; political risks; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets, inflation, changes in exchange rates; fluctuations in commodity prices; delays in the development of projects; capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry; and those risks set out in Zenyatta’s public documents filed on SEDAR. This list is not exhaustive of the factors that may affect any of Zenyatta’s forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on Zenyatta’s forward-looking statements. Although Zenyatta believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies 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. Zenyatta disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
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