Canada NewsWire
PEACHLAND, BC, March 21, 2018
PEACHLAND, BC, March 21, 2018 /CNW/ - Adam Travis (the "Concerned Shareholder" or "Mr. Travis"), a director, shareholder and former President and Chief Executive Officer of Colorado Resources Ltd. (TSXV:CXO) ("Colorado" or the "Corporation") today addresses the false and misleading attacks leveled against him. Shareholders of Colorado (the "Shareholders") are encouraged to not be misled and vote the YELLOW proxy for change at the April 17, 2018 annual general meeting of shareholders (the "Meeting").
Attacks by Conflicted Directors Aimed to Silence Mr. Travis and Distract Shareholders
The personal attacks on the Concerned Shareholder and his family were aimed to hurt and silence him. These have been ongoing threats since he stood up for the rights of Shareholders and opposed the self-interested actions taken by the Chairman of the Board, Lawrence Nagy, and two other inter-related directors, Terese Gieselman and William Lindqvist (the "Conflicted Directors"). The alarming details of the Conflicted Directors' actions to profit at the expense of Colorado shareholders (the "Damara Transaction"), are more fully described in the Concerned Shareholder's letter dated March 12, 2018 (Also visit: https://www.laurelhill.ca/a-better-coloradoresources).
"I have tried on numerous occasions to work with the board and together find a way to resolve the issues relating to the Damara Transaction and to work on promoting good governance of Colorado going forward, including a renewed board of independent directors. Unfortunately, instead of having a healthy dialogue, this resulted in the Conflicted Directors retaliating against me." explained Mr. Travis.
"After much thought and encouragement from many shareholders, and knowing the personal attacks that will come, I believe shareholders should have an opportunity to effect change and vote for an independent board slate which is free of conflicting agendas and will serve the shareholders, and not themselves."
Conflicted Directors Signed All Cheques and Had Full Disclosure
The Conflicted Directors accuse Mr. Travis of using the Corporation's money for his own personal benefit throughout the years. If there were actual concerns about misappropriation of funds, where was the Board's oversight all these years? Or perhaps it is simply coincidence that the Conflicted Directors decided to trump up misleading accusations after the failed Damara Transaction and repeated requests by Mr. Travis for good governance of Colorado. Shareholders should note the below:
Additional Facts which the Conflicted Directors Neglect to Address or Have Distorted to their Advantage
Shareholders should consider the following facts which the Conflicted Directors have neglected to address or have distorted to their advantage in order to obtain your support:
Shareholders Have a Say. Take Your Stance and Vote for an Independent Board With a Proven Track Record of Delivering Value to Shareholders.
The Concerned Shareholder's proposed nominees include Adam Travis, Patrick Soares, Bryan Wilson, Christian Kargl-Simard and Michael Cathro (the "Proposed Nominees"). They have valuable qualities including:
The plan forward for Colorado would be to unlock the underlying shareholder value in the Company by:
It is time for Shareholders to come first. Mr. Travis wishes to thank fellow Shareholders for the support and encouragement he continues to receive. Please vote your YELLOW proxy today.
For More Information and Shareholder Questions
VOTE YOUR YELLOW PROXY PRIOR TO 8:00 A.M. (PACIFIC TIME) ON FRIDAY, APRIL 13, 2018. Shareholders are urged to vote online by following the instructions found on the YELLOW Proxy or Voting Instruction Form to ensure votes are received in a timely manner.
Visit www.laurelhill.ca/a-better-coloradoresources for more information.
SOURCE Adam Travis
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