Longview Capital Partners Provides Letter to Shareholders
11/19/2009 9:00 AM - FSC
Vancouver, BC November 19, 2009
FSC / Press Release
Longview Capital Partners Provides Letter to Shareholders
Vancouver, British Columbia CANADA, November 19, 2009 /FSC/ - Longview Capital Partners Inc. (TSX: LV, FWB: L6V, OTCBB_Pink_Sheets: LGVWF), announces that the following letter has been mailed to its shareholders of record:
Dear Fellow Shareholder,
In our inaugural letter to shareholders in May of this year, we stated that there would be regular communication as a hallmark of the style Management and the Directors wish to adopt. This communication is one part of the revitalization program which has been underway for the past several months.
As such, you can expect to receive a shareholder letter twice per annum. The primary objective of these letters will be to highlight the significant events, activities and results achieved by the Company.
In this letter there are several key announcements that we would like to share with you. They are as follows:
1. The investment mandate of the Company has been reviewed by the Board. This review originated at our July board meeting and was unanimously approved at our September meeting. We have decided to broaden our scope for potential investments from traditional hard rock minerals to embrace the rare-earth minerals, precious metals, oil, gas, water and renewable energy sectors. We are evaluating a number of projects including a bio-mass deal in Columbia; a bottled water deal in central Europe and an oil deal in the Balkans.
2. The Company will be renamed Resinco(tm) Capital Partners (Resource Investment Company). This re-branding will be effective from November 26, 2009. The new trademarked name reflects the subtle change applied to our investment mandate and emphasizes the fact that we will be evaluating and hopefully executing investments across a broader range of natural resource categories leveraging our historical strength in hard metal minerals and increasing our scope in the areas of rare-earth minerals, oil, gas, water and renewable energy.
3. Resinco(tm) will begin trading under the new stock exchange symbol, RIN, as part of our re-branding exercise on November 30, 2009.
4. A complete assessment of our current strategic approach to investment activities resulted in a decision to return to our "roots" and we will focus on initial investments into early stage companies. We also expect to close on a handful of transactions per annum. All investments in the future will also have to comply with our investment profile of indicating that the project has the potential to become a world class asset; staffed by a qualified and experienced management team, who are investors in the deal; and for the deal to be well funded from the outset.
We also expect our broader portfolio over time to create a blend of investments that reflect long, medium and short-term liquidity realization potential. From a risk tolerance perspective, it is both prudent and sensible to have a portfolio with this blend. At this stage, the Board has not decided on an ideal blend ratio. Resinco's new investment protocol will be to harvest and repatriate initial investment funds to our "cash-pool" enabling us to utilize replenished funds on subsequent deals provided this partial "cashing-out" does not cause the investee company undue stress.
5. Resinco's new investment mandate is as an interested and active investor and participating where we can as involved Board members. It is not the intention of the Company to participate in active management roles unless an investee company has a critical need or crisis situation where our talents can be utilized for the benefit of all shareholders.
6. The Company is the process of initiating a Technical Advisory Board ("TAB") which will consist of "best in class" professional geologists, mining engineers and technical specialists. Initial appointment announcements are expected to be made in December. The TAB will provide the Company with advice, counsel and education related to the technical aspects of potential and current investments. Members of the TAB will receive a monthly retainer, options in the Company and will participate in technical due diligence of new deals. The TAB will also be requested to review on-going operational plans of investee companies.
7. Since our last letter, we have concluded the following investments:
(i) $100,000 investment into Altus Agritech Inc. a bio-mass project in Columbia
(ii) $185,000 follow-on investment into Cue Resources Ltd, ("Cue Resources") a uranium exploration company in Paraguay. With this investment Longview acquired 1,850,000 units and maintained our 19.99% ownership in Cue Resources. This investment was part of the initial tranche of the 20.0 million unit private placement announced by Cue Resources on May 7, 2009 and subsequently amended on June 23, 2009.
(iii) $272,500 follow-on investment into Cue Resources as part of the second tranche of the 20.0 million private placement announced by Cue Resources on May 7, 2009 and subsequently amended on June 23, 2009. With this investment Longview acquired an additional 2,725,000 units and maintained a 19.99% ownership of Cue Resources.
(iv) Follow-on investment in Tanzania Minerals acquiring 1,000,000 common shares priced at $0.05.
(v) Acquisition of 360,000 shares in Pinetree Capital Ltd. in exchange for 6,250,000 shares of Longview Capital Partners Inc. No cash changed hands.
8. Further operating cost reductions have been instigated within the business, including the relocation of our offices to 1430-800 West Pender Street, Vancouver. Our monthly overhead expenses have been reduced by over 90% on an annual comparison. We have also been successful in outsourcing a number of key activities in this cost curtailment process without dilution of capabilities, effectiveness and efficiencies. They include corporate secretarial, investor relations and technical services.
During the last few months Management and the Board have been dedicated to positive change. Activities as described in this letter are testimony to that goal. Collectively we believe we have revitalized, streamlined and energized our Company. Future results will, of course, be the judge of this declaration. We do strongly believe we have created a foundation for sustainable success and a platform for growth based on simple yet important values such as integrity, respect, fairness, transparency, loyalty and honour.
On behalf of our Board and all of our employees, we thank you for your continued support. If you have any questions or queries, please do not hesitate to contact me directly at your convenience.
Yours truly,
LONGVIEW CAPITAL PARTNERS
John Icke
President, CEO and Director