Vancouver, August 26, 2020 - Nelson G. D. Borch, a concerned shareholder, being the registered holder of not less than 5% of the outstanding common shares of Cascadero Copper Corp.
(TSXV:CCD) ("Cascadero" or the "Company"), has requisitioned by email on the 21st of August an Extraordinary General Meeting (the "EGM") of the Company. The lawyer Company acknowledged receipt of the requisition on the 25th of August 2020.
The purpose of the EGM will be to consider the following resolutions:
a) increase the number of Directors to five;
b) remove all of the existing Directors with the exception of Christopher Ecclestone and Lorne Harder, namely George Gale and Greg Andrews; and
c) elect a slate of proposed directors, including Christopher Ecclestone (currently a Director), Lorne Harder (currently a Director), Bill Radvak, Simon Grant Rennick and Simon Hobson. Messrs Radvak, Hobson and Grant Rennick are all mining engineers.
These changes are urgent and necessary as Mr. Ecclestone resigned very recently as Chief Executive Officer due to the current Board of Directors refusing to break with historic poor corporate governance and self-serving actions by some of the existing Directors.
Cascadero has long been run as a quasi-private family fiefdom which continues despite the board changes made in late June this year. The goal of the proposed team is to bring purely professional non-conflicted Board members to the Company that will focus on maximising value for Cascadero shareholders, consider all reasonable offers for major transactions and realistically advance those assets that are in the best position to be developed.
For further information, please contact: Christopher Ecclestone
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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