01:56:49 EDT Tue 24 Oct 2017
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St Elias Mines Ltd
Symbol C : SLI
Shares Issued 117,118,355
Close 2013-01-14 C$ 0.14
Recent Sedar Documents

St. Elias dissidents received 91% of votes, says report

2013-01-14 19:24 ET - News Release

Mr. Gilby Hastman reports

CONCERNED SHAREHOLDERS OF ST. ELIAS MINES LTD. ANNOUNCE OVERWHELMING SUPPORT FOR ELECTION OF DISSIDENT NOMINEES

After a two-week delay, Gilby Len Hastman and Darcy Kim Hastman (the concerned shareholders) have now received the scrutineer report of St. Elias Mines Ltd. for the annual general and special meeting of shareholders of the company held on Dec. 27, 2012 (the AGM). To date, the company has not publicly announced these results. Significantly, the report discloses that management of the company (management) received approximately 6,671,436 votes at the AGM, which is in stark contrast to the 64,649,933 shares represented by the valid green proxies received by the concerned shareholders and delivered to the company for use at the AGM (please see the news release of the concerned shareholders dated Jan. 2, 2013). Therefore, the green proxies accounted for approximately 91 per cent of the total votes cast at the AGM in favour of electing the dissident nominees as directors of the company. This was a remarkable result.

The report also confirms that, of the five management nominees for directors, Lori McClenahan and Tina Whyte received, respectively, the fewest and second fewest votes cast, including by shareholders who completed white proxies for use at the AGM.

The concerned shareholders will take steps to ensure that this important information is brought to the attention of the B.C. Securities Commission and the TSX Venture Exchange. As previously announced, the concerned shareholders believe that Ms. McClenahan, as the chair at the AGM, had no authority or jurisdiction to reject all of the green proxies and that the majority of the dissident nominees, being Gilby Hastman, Darcy Hastman, Ted E.R. Rutherglen, James E. Rainbird and Richard Alexander Defreitas, were elected as directors of the company at the AGM.

The report provides further evidence of the company's attempts to entrench management and to disenfranchise and thwart the will of a significant majority of the shareholders of the company. The concerned shareholders believe that the company's actions undermine the fundamental rights afforded to shareholders of companies listed on the TSX Venture Exchange and erode investor confidence in the Canadian capital markets. If you have any questions, please contact either of the concerned shareholders as follows: Gilby Hastman (1-780-974-5925), Darcy Hastman (1-780-974-5924) or by e-mail at steliasnominees@gmail.com.

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