Eric Owens Files Information Circular TORONTO, May

TORONTO, May 15, 2018 (GLOBE NEWSWIRE) -- Today Eric Owens, former CEO, current director, and a founder of Alexandria Minerals Corporation (“Alexandria”), announced the filing of an information circular in connection with a special meeting of shareholders of Alexandria to be held July 24, 2018 (the ”Special Meeting”) which he and other concerned shareholders (together the “Concerned Shareholders” or “Founder’s Group”) requisitioned earlier this year. Shareholders of record as of May 28, 2018 are entitled to vote at the Special Meeting. 

With this action, Mr. Owens is taking the next step in putting Alexandria back on track towards realizing shareholder value. Mr. Owens, together with the Concerned Shareholders, believes that Alexandria was on the brink of creating significant value for the company’s shareholders by pursuing a large drilling program on Alexandria’s Orenada exploration property in Val d’Or, Quebec (the “Val d’Or Property”) - one of the world’s premier gold mining districts. As long-time chief executive and director of Alexandria, Mr. Owens understands what is required to develop the Val d’Or Property and believes this property, one of the largest in the region, has enormous potential and remains mostly unexplored.

In January 2018, Mr. Owens, as CEO of Alexandria, secured more than $20 million in accretive financing, which would have allowed for the completion of an aggressive drilling program, intended to bring greater clarity to the true value of the Val d’Or property. The inexplicable rejection of this financing and the corresponding halt to drilling by the majority of the current board under the direction of Alexandria’s Special Committee leaves several drill holes sitting unsampled. These actions confirm the Concerned Shareholders’ belief that current management has no vision for how Alexandria can maximize its potential and create value on behalf of shareholders.

The Concerned Shareholders believe that Mr. Owens has a superior vision for Alexandria and has the proven ability to execute against his strategic plan. At the Special Meeting, Mr. Owens is proposing to fix the size of the Board at six directors, to remove three of the incumbent directors (being Peter Gundy, Walter Henry and Gary O’Connor) and nominating three highly qualified and experienced individuals for election to the Board. Each of Mr. Owens’ nominees – Chris Hopkins, Ian Mellon and Colin Sutherland (the “Founder’s Nominees”) – will bring extensive experience and expertise to the board of Alexandria.

Once elected to the board of directors, the Founder’s Nominees will work collaboratively in the best interests of Alexandria and its shareholders. This approach stands in stark contrast to the current management’s lack of direction, misguided approach to sell the company and failure to realize the potential value of Alexandria. Shareholders will be best served if the Founder’s Nominees are elected at the July 24th Special Meeting.

Vote with the Concerned Shareholders to ensure Mr. Owens’ strategic vision is adopted and implemented, maximizing shareholder value. For more information visit www.votefoundersgroup.ca or contact Eric Owens directly at 416-509-5385 or Mike Van Soelen at mvansoelen@navltd.com or at 416-307-3039 .

Eric Owens has filed an information circular containing the information required by Form 51-102F5 – Information Circular in respect of its proposed nominees, which is available under Alexandria’s profile on SEDAR at www.sedar.com.

Disclaimers

Eric Owens has not sought or obtained consent from any third party to the use herein of previously published information. Any such information should not be viewed as indicating the support of such third party for the views expressed herein.

Except for the historical information contained herein, the matters addressed in these materials are forward-looking statements that involve certain risks and uncertainties. You should be aware that actual results could differ materially from those contained in the forward-looking statements. Eric Owens does not assume any obligation to update the forward-looking information.

Information in Support of Public Broadcast Solicitation

Eric Owens is relying on the exemption under section 9.2(4) of National Instrument 51-102 – Continuous Disclosure Obligations and section 150(1.2) of the Canada Business Corporations Act to make this public broadcast solicitation. The following information is provided in accordance with securities and corporate laws applicable to public broadcast solicitations.

This solicitation is being made by Eric Owens, and not by or on behalf of the management of Alexandria Minerals Corporation (“Alexandria”). The registered and mailing address of Alexandria is 1 Toronto Street, Suite 201 Toronto, Ontario M5C 3B2.

Eric Owens has filed an information circular containing the information required by Form 51-102F5 – Information Circular in respect of the Founder’s Nominees, which is available under Alexandria’s profile on SEDAR at www.sedar.com.

Mr. Owens is not requesting that Alexandria shareholders submit a proxy at this time. Once Mr. Owens has commenced a formal solicitation of proxies, a registered holder of shares of Alexandria that gives a proxy may revoke it: (a) by completing and signing a valid proxy bearing a later date and returning it in accordance with the instructions contained in the form of proxy to be provided or as otherwise provided in the proxy circular accompanying such proxy; (b) by depositing an instrument in writing executed by the shareholder or by the shareholder's attorney authorized in writing, as the case may be: (i) at the registered office of Alexandria at any time up to and including the last business day preceding the day the Meeting or any adjournment or postponement of the Meeting is to be held, or (ii) with the chairman of the Meeting prior to its commencement on the day of the Meeting or any adjournment or postponement of the Meeting; or (c) in any other manner permitted by law. A non-registered holder of shares of Alexandria will be entitled to revoke a form of proxy or voting instruction form given to an intermediary at any time by written notice to the intermediary in accordance with the instructions given to the non-registered holder by its intermediary.

Proxies for the Special Meeting may be solicited by mail, telephone, email or other electronic means as well as by newspaper or other media advertising, and in person by associates, agents, representatives and employees of Eric Owens, who will not be specifically remunerated therefor. In addition, Mr. Owens may solicit proxies in reliance upon the public broadcast exemption to the solicitation requirements under applicable Canadian securities laws, conveyed by way of public broadcast, including through press releases, speeches or publications, and by any other manner permitted under applicable Canadian laws. Mr. Owens may engage the services of one or more agents and authorize other persons to assist him in soliciting proxies should he commence a formal solicitation of proxies. In this regard, Mr. Owens has entered into an agreement with Navigator Ltd., which has agreed to act, in addition to other capacities, in a capacity to assist Mr. Owens in the oversight and solicitation of proxies in connection with the Meeting. Pursuant to this agreement, Navigator Ltd. will be paid a fee of $15,000 for this activity. All costs incurred for the solicitation will be borne by Mr. Owens.  Dan Palikrousis has contributed funds to Mr. Owens to defray the costs of such solicitation; as a result he may also be deemed to be a “solicitor” within the meaning of applicable securities laws.

To the knowledge of Mr. Owens, neither he nor any of his associates or representatives, nor any of the Founder’s Nominees, or their respective associates or affiliates, has: (i) any material interest, direct or indirect, in any transaction since the beginning of Alexandria' most recently completed financial year or in any proposed transaction that has materially affected or would materially affect Alexandria or any of its subsidiaries; or (ii) any material interest, direct or indirect, by way of beneficial ownership of securities or otherwise, in any matter currently known to be acted upon at the Meeting, other than the election of directors of Alexandria.

For more information: Mike Van Soelen Navigator Ltd. mvansoelen@navltd.com (416) 307-3039