Coloured Ties slams Labrador Gold proxy vote threat

Executive Summary

• Coloured Ties Capital Inc., a major shareholder of Labrador Gold Corp., has publicly condemned Labrador Gold’s alleged attempt to disenfranchise shareholders by threatening to disregard dissident proxy votes.
• The release characterizes Labrador Gold’s stance as a "shameful attempt" to intimidate shareholders and undermine corporate governance, accusing the company of using legal tactics to suppress independent voting and entrench current management.
• Shareholders are urged to vote the "gold proxy" or "gold VIF" to effect change at Labrador Gold, with Coloured Ties pledging to take all necessary legal action to enforce shareholder rights if votes are denied.

Key Details

• Parties Involved: Coloured Ties Capital Inc. (along with concerned shareholders Kal Malhi and Rauni Malhi) vs. Labrador Gold Corp.
• Core Dispute: Labrador Gold reportedly suggested that shareholder votes cast on a specific gold proxy "may" not be counted. Coloured Ties views this as a threat to refuse counting votes against management if they lose the proxy battle.
• Accusations Against Labrador Gold:
  • Disenfranchisement: Attempting to intimidate shareholders by falsely suggesting lawful dissident proxy votes may be ignored or counted at management's discretion.
  • Entrenchment: Prioritizing power retention over accountability by spending shareholder cash on legal strategies to deny votes.
  • Misleading Tactics: Deliberately sowing confusion among investors to suppress independent voting.
• Call to Action: Shareholders are encouraged to vote the "gold proxy" or "gold VIF" to reconstitute the board and address alleged past performance issues, reckless gambles, and disregard for shareholder democracy.
• Legal Stance: Coloured Ties asserts that the threat to ignore votes is a "flimsy technical argument" that is invalid, unethical, and unacceptable. They intend to take all action necessary to enforce shareholder rights.
• Contact Information: Advisense Partners (Strategic Adviser) is available at 1-866-207-4819 (North America) or 1-437-783-3139 (International), or via email at [email protected].

Notable Quotes

• "Coloured Ties Capital Inc., one of the largest shareholders of Labrador Gold Corp., together with Kal Malhi and Rauni Malhi (the concerned shareholders), has strongly condemned recent statements by Labrador suggesting that shareholder votes cast on the gold proxy 'may' not be counted, calling the maneuver a blatant attempt to intimidate shareholders and undermine the integrity of the corporate governance process."
• "The threat is clear; if they lose, they will refuse to count votes against them. This is a flimsy technical argument that Coloured Ties does not believe is valid, nor is it ethical or acceptable corporate governance."
• "Rather than engaging on the merits of performance, strategy and accountability, Labrador appears more focused on an authoritarian agenda of clinging to power at all costs."