Pricey Valued Shareholder,
We’ve now reached the ultimate days earlier than you have to decide on the way forward for your organization. In case you have not but voted, please achieve this and submit your vote as quickly as doable to satisfy the deadline of Monday, June 3 at 2:00 p.m. (Pacific time). It is necessary that every one voices are heard.
A big quantity of knowledge has been made accessible to you for the reason that initiation of the proxy contest by Muddy Waters in late March. Many deceptive statements have been made by Muddy Waters. On behalf of my colleagues on the Board, I want to recap a number of the most important developments of the previous few months.
The Board’s obligation is to contemplate the pursuits of the Firm. In doing so, the Board might look to the pursuits of assorted stakeholders, together with shareholders, staff and contractors, collectors, governments, together with First Nations, and the surroundings. I’m enormously happy with the way in which our Firm has revered and balanced the wants of every of those teams over the previous a number of years, and particularly, throughout this proxy contest. I imagine we now have finished every part in our energy to honour our commitments and account for a various set of pursuits.
We’ve maintained open communications with the native communities most affected by our operations, together with the Apitipi Anicinapek Nation (the “AAN”) on whose territory the Fenn-Gib Venture is situated. The AAN has expressed its disappointment that Muddy Waters has made no efforts to contact them, regardless of the elemental dangers that will pose to the continuation of the mission.
When our senior staff moved to terminate their employment, on the premise that the actions of Muddy Waters constituted a change of management occasion beneath their employment contracts, we reached a settlement settlement to make sure they continue to be of their positions till not less than the date of the Assembly. In that regard, we now have been diligent in honouring Mayfair’s contracts with the people who’ve contributed a lot of their time and experience to create worth for all stakeholders. It’s price noting that no unbiased director stands to learn from any change of management funds; on the contrary, we now have all been threatened with litigation for inflicting the Firm to respect its contractual obligations and searching for to guard the curiosity of all stakeholders, significantly minority shareholders and staff.
In the end, Mayfair’s future will probably be determined by its shareholders. To this group, the Board has demonstrated a agency dedication in current months, together with:
- At the start, we maintained the concentrate on operating the Firm regardless of the numerous distractions, highlighted by the appointment of a Vice President, Technical Providers, the initiation of a pre-feasibility examine at Fenn-Gib, the initiation of a serious environmental discipline program in help of allowing, and the preservation of administration continuity.
- We duly thought of all proposals introduced ahead by a subset of our shareholders led by Muddy Waters, making each effort to have interaction with them in a constructive method, whereas avoiding their requests to deviate from sound governance practices comparable to enterprise a primary screening course of for proposed administrators.
- We initiated a number of makes an attempt to barter a settlement with Muddy Waters that would keep away from the potential turmoil of the departure of the complete senior workforce, however to no avail.
- We fought to protect your proper to vote for the administrators of your selection on the Assembly.
- We’ve striven for full transparency in our disclosure supplies in order that shareholders have full details about the implications of their vote.
- Equally essential, we now have referred to as consideration to the insufficient disclosure from Muddy Waters and the unacceptable dangers to the Firm ought to their proposals and nominees prevail.
- We sought and accepted the recommendation of authorized counsel to assist us stay in compliance with all relevant authorized necessities and governance ideas.
Our place on every of those factors has been totally validated by two separate unbiased proxy advisors, ISS and Glass Lewis, who specialise in reviewing info in proxy contests like this one and make voting suggestions. Each corporations issued reviews recommending that shareholders vote for the administration resolutions of their entirety, and towards all Muddy Waters resolutions.
All through this era, our sole motivation has been a honest want to do what we think about to be in one of the best curiosity for Mayfair Gold and its a number of stakeholder teams. There was no try at entrenchment by the Board. We take our fiduciary obligations severely.
Thanks to your continued help.
| Very actually yours, | |
| (signed) “Harry Pokrandt”
Harry Pokrandt |
|
Vote for Expertise. Vote the WHITE Proxy Card.
The Board advises shareholders to vote the WHITE Proxy or voting instruction type effectively prematurely of the deadline at 2:00 p.m. (Pacific time) on June 3, 2024, in reference to the upcoming Assembly. Shareholders who’ve any questions regarding the Assembly or concerning the completion and supply of the WHITE Proxy or voting instruction type, might contact Alliance Advisors, LLC by phone at 844-858-7380 or e-mail at Mayfair@allianceadvisors.com.
Further particulars regarding the issues to be voted upon on the Assembly and the Board’s suggestions are included within the administration info round dated Could 6, 2024, which is on the market on www.sedarplus.ca, in addition to the Investor Assets part of the Firm’s web site at https://mayfairgold.ca/investor-resources/.
Scientific and Technical Info
Scientific and technical info contained on this information launch has been derived, partially, from the Firm’s technical report titled ” Nationwide Instrument 43-101 Technical Report Fenn–Gib Venture, Ontario, Canada ” with an efficient date of April 6, 2023, and reviewed and permitted by Tim Maunula, an unbiased “certified particular person” pursuant to Nationwide Instrument 43-101 – Requirements of Disclosure for Mineral Tasks .
About Mayfair
Mayfair Gold is a Canadian mineral exploration firm targeted on advancing the 100% managed Fenn-Gib gold mission within the Timmins area of Northern Ontario. The Fenn-Gib gold deposit is Mayfair’s flagship asset and at the moment hosts an up to date NI 43-101 useful resource estimate with an efficient date of April 6, 2023 with a complete Indicated Useful resource of 113.69M tonnes containing 3.38M ounces at a grade of 0.93 g/t Au and an Inferred Useful resource of 5.72M tonnes containing 0.16M ounces at a grade of 0.85 g/t Au at a 0.40 g/t Au cut-off grade. The Fenn-Gib deposit has a strike size of over 1.5km with widths ranging over 500m. The gold mineralized zones stay open at depth and alongside strike to the east and west. Not too long ago accomplished metallurgical exams affirm that the Fenn-Gib deposit can ship strong gold recoveries of as much as 94%.
ON BEHALF OF THE BOARD OF DIRECTORS
For additional info contact:
Patrick Evans, President and CEO
Cellphone: (416) 670-5114
E-mail: patrick@mayfairgold.ca
Net: www.mayfairgold.ca
Media contact:
John Vincic, Oakstrom Advisors
Cellphone: (647) 402-6375
E-mail: john@oakstrom.com
For info on voting:
Alliance Advisors, LLC
Cellphone: 1-844-858-7380
E-mail: Mayfair@allianceadvisors.com
Ahead Trying Statements
This information launch comprises forward-looking statements and forward-looking info throughout the which means of Canadian securities laws (collectively, ” forward-looking statements “) that relate to Mayfair’s present expectations and views of future occasions, together with dangers to the Firm from Muddy Waters’ proposals and nominees. Ahead-looking statements and will contain estimates, assumptions and uncertainties which may trigger precise outcomes or outcomes to vary materially from these expressed in such forward-looking statements. No assurance might be provided that these expectations will show to be appropriate and such forward-looking statements included on this information launch shouldn’t be unduly relied upon. These statements communicate solely as of the date of this information launch.
Ahead-looking statements are primarily based on various assumptions and are topic to various dangers and uncertainties, a lot of that are past Mayfair’s management, which may trigger precise outcomes and occasions to vary materially from these which might be disclosed in or implied by such forward-looking statements. Mayfair undertakes no obligation to replace or revise any forward-looking statements, whether or not on account of new info, future occasions or in any other case, besides as could also be required by regulation. New components emerge now and again, and it isn’t doable for Mayfair to foretell all of them, or assess the impression of every such issue or the extent to which any issue, or mixture of things, might trigger outcomes to vary materially from these contained in any forward-looking assertion. Any forward-looking statements contained on this information launch are expressly certified of their entirety by this cautionary assertion.
Neither the TSX Enterprise Alternate nor its Regulation Providers Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Alternate) accepts duty for the adequacy or accuracy of this information launch.
