Roxgold Inc. (TSXV:ROG) updates shareholders on recent and ongoing developments with the Company.
As quoted in the press release:
We are reaching out to you to provide an update on the attempt by a dissident shareholder, Mr. Oliver Lennox-King, to elect his nominees to the board of Roxgold. The dissident has rejected every reasonable settlement offer made by the Company, and his actions raise questions about his true motives.
Setting the Record Straight
The dissident’s circular contains inaccurate and incorrect statements. We believe that it is important that shareholders have all of the facts to make an informed decision.
Our New Management Team: The current board, including through the efforts of the special committee, searched for a CEO replacement for several months and considered many candidates. After careful consideration, it became clear that no individual would be able to offer the expertise, experience, and skill set of Mr. Richards.
Option Grants: All current directors of the Company voluntarily agreed to cancel all of the 5.075 million stock options granted to them in the past year.
Shareholder concerns have been directly addressed, yet Mr. Lennox-King is still dissatisfied. He has rejected overtures for a compromise solution and has shown his only version of compromise is where he has total control.
Vote for Focused Value Creation
Your vote is critical, no matter how many shares you own. We urge you to vote your GOLD proxy today in favour of continuity, focus and experience.
The deadline for receipt of proxies is 2:00 p.m. (Vancouver time) on Friday, September 21, 2012. To support the new Roxgold team, vote only using the GOLD proxy and discard any Blue proxies that you receive. You may vote by telephone or Internet, or by signing, dating and returning the enclosed GOLD proxy in the postage-paid envelope provided. If you have any questions and/or need assistance in voting your shares, please call Laurel Hill Advisory Group at 1-877-304-0211 (toll-free) or 1-416-304-0211 (collect) or e-mail at firstname.lastname@example.org.