Vanchester,
Could the following be some more oversight? It appears to have been released before Forbes & Manhatten and Inspiration Mining Reiterate Need for Change at URSA. http://www.marketwire.com/press-release/forbes-manhattan-inspiration-mining-reiterate-need-change-ursa-major-minerals-1527267.htm
http://www.marketwire.com/press-release/ursa-major-minerals-special-committee-calls-on-dissident-group-for-more-disclosure-tsx-umj-1527157.htm
June 15, 2011 09:57 ET
URSA Major Minerals Special Committee Calls on Dissident Group for More Disclosure
TORONTO, ONTARIO--(Marketwire - June 15, 2011) -
THIS PRESS RELEASE IS NOT FOR DISTRIBUTION TO ANY U.S. NEWS WIRE SERVICE OR FOR DISSEMINATION IN THE UNITED STATES.
URSA Major Minerals Incorporated ("URSA Major" or the "Company") (TSX:UMJ) - The special committee (the "Special Committee") of the board of directors of the Company announced today that it is currently investigating the actions of Inspiration Mining Corporation and other dissident shareholders (together, the "Dissidents") with respect to the upcoming annual and special meeting of shareholders of the Company (the "Meeting") scheduled to take place on June 23, 2011.
The Special Committee is concerned that the Dissidents, who beneficially own or control over 20% of the Company's shares, may have continued to purchase shares of the Company while acting jointly and in concert with one another in respect of the Meeting. In an effort to resolve this matter, the Special Committee requested further information from the Dissidents. The Dissidents have refused to cooperate with the Special Committee and are refusing to account for their actions.
The Special Committee is currently considering the appropriate corporate and regulatory alternatives available to the Company in order to ensure that shareholders submit their proxies on an informed basis.
About URSA Major Minerals – URSA Major is a Canadian mining company with two nickel sulphide projects containing significant NI43-101 compliant nickel and copper reserves and resources. The Company is focused on demonstrating profitable operations at the Shakespeare Mine and growing its nickel, copper and platinum group metal (PGM) deposits through exploration and development, primarily in Ontario, Canada.
Some statements contained in this release are forward-looking and, therefore, involve uncertainties or risks that could cause actual results to differ materially. Such forward-looking statements include comments regarding mining and milling operations, mineral resource statements and exploration program performance. Factors that could cause actual results to differ materially include metal price volatility, economic and political events affecting metal supply and demand, fluctuations in mineralization grade, geological, technical, mining or processing problems, exploration programs and future results of exploration programs, future profitability and production.
