Welcome!

News Feed Item

Concerned Shareholders of St. Elias Mines Ltd. Apply to the British Columbia Supreme Court and Provide Guidelines for Voting GREEN PROXIES

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 12/18/12 -- Gilby Len Hastman and Darcy Kim Hastman (the Concerned Shareholders) announce that they have filed an application (the Application) with the British Columbia Supreme Court (the Court) seeking an order that the articles of St. Elias Mines Ltd. (the Company) do not prohibit the nominations of James E. Rainbird and Richard Alexander Defreitas and further, or in the alternative, that the annual general meeting (the AGM) of the Company be rescheduled from December 27, 2012 to early January, 2013. The Application is scheduled to be heard on December 18, 2012 and, if successful, will ensure that shareholders of the Company have an opportunity to consider each of the Concerned Shareholders' five nominees at the AGM.

SIMPLIFIED PROCEDURES FOR VOTING GREEN PROXIES:

The following are the simplified GREEN PROXY voting procedures:


1.  You need to first determine if you are a registered shareholder or a
    non-registered shareholder. Most shareholders of the Company are non-
    registered shareholders. 
    
    a.  Registered shareholders hold their shares in their own name and
        usually have a physical share certificate in their possession. 
        
    b.  Non-registered shareholders have their shares held by an
        intermediary such as a bank, trust company, securities dealers or
        similar entities (the Intermediary).  
        
2.  If you are a registered shareholder, the easiest way to vote is to
    complete your GREEN PROXY (which can be found on SEDAR under the profile
    of the Company), sign, date it and deposit it with Computershare
    Investor Services Inc. by email to [email protected] or
    by fax to 1-866-249-7775.  
    
3.  If you are a non-registered shareholder, the easiest way to vote is to
    call your Intermediary as soon as possible and request your 12 digit
    GREEN PROXY voting control number for the Company. You may have several
    GREEN PROXY voting control numbers, so please ensure to get all of them
    that represent all of the common shares that you hold of the Company.
    Once you have the GREEN PROXY voting control number(s), you can then go
    to WWW.PROXYVOTE.COM and vote via the internet or enter your voting
    instructions by telephone at 1-800-474-7493. 
    
4.  In order for the Concerned Shareholders to be able to tabulate all of
    the votes in time for the AGM, both registered and non-registered
    shareholders should have their GREEN PROXY completed and sent in as per
    the instructions above by no later than 11:00AM (Vancouver Time) on
    December 20, 2012. 
    
5.  Even if you voted a white management proxy already, you can revoke it by
    sending in a GREEN PROXY as per the instructions above. 
    
6.  If you have any questions on this process, including on how to obtain
    your GREEN PROXY from your Intermediary, or would like to know of
    alternative ways of voting, please contact either of the Concerned
    Shareholders as follows: Gilby Len Hastman (1-780-974-5925), Darcy Kim
    Hastman (1-780-974-5924) or by email at "[email protected]". 

DID YOU KNOW?

Management of the Company contends that shareholders should rely on the facts. The Concerned Shareholders agree. Before voting, please review the facts set forth on page 5 of the Dissidents Information Circular. Further, please consider the following:


1.  The Concerned Shareholders are concerned that throughout November, 2012,
    management of the Company was in possession of material information that
    five director positions would be open at the AGM. Management did not
    disclose this information to its shareholders until December 3, 2012,
    which was too late for the Concerned Shareholders to then nominate five
    directors. Management now relies on its lack of timely disclosure to
    prevent the Concerned Shareholders from nominating Mr. Rainbird and Mr.
    Defreitas at the AGM. 
    
2.  The Company sponsors an event known as the "Curvy Fashion Show", which
    is a plus-sized women's lingerie fashion show that combines fashion,
    music, celebrities and recording artists. Why is your money being spent
    on sponsoring a fashion show? What does a fashion show have to do with
    exploring or mining for gold?? 
    
3.  On October 22, 2012, one business day after being informed by the
    Concerned Shareholders that new directors were being nominated for the
    AGM, then scheduled for November 27, 2012, the Company announced a non-
    brokered private placement, which the Concerned Shareholders believe was
    orchestrated in order to entrench management.  
    
4.  The Company is paying Georgeson Shareholder Communications Canada Inc.
    ("Georgeson") a fee of up to $150,000, plus a per-call fee for retail
    shareholder and reasonable out-of-pocket expenses, in order to have
    Georgeson solicit proxies in favour of management.  

SHAREHOLDERS TAKE NOTICE:


--  The above four items, together with the facts on page 5 of the
    Dissidents Information Circular, are not "unfair criticisms", as alleged
    by management. The Concerned Shareholders believe that they are
    practices that demonstrate that management is not acting in the best
    interests of the Company's shareholders. Simply put, the Concerned
    Shareholders believe management of the Company is making poor decisions
    with your money. 
    
--  The Company now attempts to bully the Concerned Shareholders and mislead
    and manipulate its shareholders through the media in a desperate effort
    to retain control of the Company. 
    
--  Only one of the management nominees owns shares of the Company.
    Collectively, Management's nominees own less than 0.7% of the issued and
    outstanding shares of the Company. 
    
--  Four of the Dissident Nominees own shares of the Company. Collectively,
    the Dissident Nominees own approximately 2.5% of the issued and
    outstanding shares of the Company. Like you, the Dissident Nominees are
    financially invested in this Company and have a strong interest and
    desire to improve the Company's performance. 

The Concerned Shareholders remain optimistic that the Company has a prosperous future but only if the existing board of directors can be replaced by individuals who will act in the Company's best interests.

For further information, please see the Dissidents Information Circular available on www.sedar.com under the profile of the Company.

Gilby Len Hastman, on behalf of the Concerned Shareholders

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contacts:
Gilby Len Hastman
780-974-5925

Darcy Kim Hastman
780-974-5924

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Struggling to keep up with increasing application demand? Learn how Platform as a Service (PaaS) can streamline application development processes and make resource management easy.
Much of the value of DevOps comes from a (renewed) focus on measurement, sharing, and continuous feedback loops. In increasingly complex DevOps workflows and environments, and especially in larger, regulated, or more crystallized organizations, these core concepts become even more critical. In his session at @DevOpsSummit at 18th Cloud Expo, Andi Mann, Chief Technology Advocate at Splunk, will show how, by focusing on 'metrics that matter,' you can provide objective, transparent, and meaningfu...
If there is anything we have learned by now, is that every business paves their own unique path for releasing software- every pipeline, implementation and practices are a bit different, and DevOps comes in all shapes and sizes. Software delivery practices are often comprised of set of several complementing (or even competing) methodologies – such as leveraging Agile, DevOps and even a mix of ITIL, to create the combination that’s most suitable for your organization and that maximize your busines...
In his session at @ThingsExpo, Chris Klein, CEO and Co-founder of Rachio, will discuss next generation communities that are using IoT to create more sustainable, intelligent communities. One example is Sterling Ranch, a 10,000 home development that – with the help of Siemens – will integrate IoT technology into the community to provide residents with energy and water savings as well as intelligent security. Everything from stop lights to sprinkler systems to building infrastructures will run ef...
SYS-CON Events announced today that Peak 10, Inc., a national IT infrastructure and cloud services provider, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Peak 10 provides reliable, tailored data center and network services, cloud and managed services. Its solutions are designed to scale and adapt to customers’ changing business needs, enabling them to lower costs, improve performance and focus inter...
You think you know what’s in your data. But do you? Most organizations are now aware of the business intelligence represented by their data. Data science stands to take this to a level you never thought of – literally. The techniques of data science, when used with the capabilities of Big Data technologies, can make connections you had not yet imagined, helping you discover new insights and ask new questions of your data. In his session at @ThingsExpo, Sarbjit Sarkaria, data science team lead ...
In the world of DevOps there are ‘known good practices’ – aka ‘patterns’ – and ‘known bad practices’ – aka ‘anti-patterns.' Many of these patterns and anti-patterns have been developed from real world experience, especially by the early adopters of DevOps theory; but many are more feasible in theory than in practice, especially for more recent entrants to the DevOps scene. In this power panel at @DevOpsSummit at 18th Cloud Expo, moderated by DevOps Conference Chair Andi Mann, panelists will dis...
Up until last year, enterprises that were looking into cloud services usually undertook a long-term pilot with one of the large cloud providers, running test and dev workloads in the cloud. With cloud’s transition to mainstream adoption in 2015, and with enterprises migrating more and more workloads into the cloud and in between public and private environments, the single-provider approach must be revisited. In his session at 18th Cloud Expo, Yoav Mor, multi-cloud solution evangelist at Cloudy...
Artificial Intelligence has the potential to massively disrupt IoT. In his session at 18th Cloud Expo, AJ Abdallat, CEO of Beyond AI, will discuss what the five main drivers are in Artificial Intelligence that could shape the future of the Internet of Things. AJ Abdallat is CEO of Beyond AI. He has over 20 years of management experience in the fields of artificial intelligence, sensors, instruments, devices and software for telecommunications, life sciences, environmental monitoring, process...
Increasing IoT connectivity is forcing enterprises to find elegant solutions to organize and visualize all incoming data from these connected devices with re-configurable dashboard widgets to effectively allow rapid decision-making for everything from immediate actions in tactical situations to strategic analysis and reporting. In his session at 18th Cloud Expo, Shikhir Singh, Senior Developer Relations Manager at Sencha, will discuss how to create HTML5 dashboards that interact with IoT devic...
See storage differently! Storage performance problems have only gotten worse and harder to solve as applications have become largely virtualized and moved to a cloud-based infrastructure. Storage performance in a virtualized environment is not just about IOPS, it is about how well that potential performance is guaranteed to individual VMs for these apps as the number of VMs keep going up real time. In his session at 18th Cloud Expo, Dhiraj Sehgal, in product and marketing at Tintri, will discu...
So, you bought into the current machine learning craze and went on to collect millions/billions of records from this promising new data source. Now, what do you do with them? Too often, the abundance of data quickly turns into an abundance of problems. How do you extract that "magic essence" from your data without falling into the common pitfalls? In her session at @ThingsExpo, Natalia Ponomareva, Software Engineer at Google, will provide tips on how to be successful in large scale machine lear...
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.
The IoTs will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform. In his session at @ThingsExpo, Craig Sproule, CEO of Metavine, will demonstrate how to move beyond today's coding paradigm and share the must-have mindsets for removing complexity from the development proc...
SYS-CON Events announced today that Ericsson has been named “Gold Sponsor” of SYS-CON's @ThingsExpo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. Ericsson is a world leader in the rapidly changing environment of communications technology – providing equipment, software and services to enable transformation through mobility. Some 40 percent of global mobile traffic runs through networks we have supplied. More than 1 billion subscribers around the world re...