RX EXPLORATION INC. ("RXE" or the "Company") (TSX VENTURE:
RXE)(OTCQX: RXEXF) announced that it will hold an investor
conference call today, Monday, June 27, 2011 at 7 p.m. (Eastern
Time), to discuss the Company's strategic value creation plan and
its team of nominees for the Board of Directors.
RXE also responded to the latest letter from a group of
dissidents who are trying to seize control of the Company.
Momentum continues to build for the "BLUE" campaign. RXE reminds
shareholders that the deadline to vote your BLUE proxy is fast
approaching. In order to be counted at the Annual and Special
Meeting of Shareholders, the BLUE proxy should be voted well in
advance of the proxy voting deadline of July 4, 2011 at 4:30 p.m.
(Toronto time).
Investor Call details
In order to ensure that all shareholders have an opportunity to
make informed proxy and voting decisions, and to have their
questions answered, RXE cordially invites shareholders to attend an
Investor Call on Monday, June 27 at 7:00 p.m. (Eastern Time).
During this call, the RXE Nominees' designated President and CEO
Darren Blasutti will review the qualifications and experience of
the RXE nominees for the Board and the value creation plan they
propose to implement. Shareholders with questions for Mr. Blasutti
are invited to send them via email to
assistance@laurelhill.com.
To participate in the call, simply dial toll-free 1-800-319-4610
and ask the operator to join the RX Exploration Investor Call.
Shareholders from outside Canada and the USA can join the call by
dialing 1-604-638-5340.We encourage shareholders to dial-in at
least five minutes before the call starts.
Shareholders can also attend by listening to an audio webcast of
the call by following the links from RXE's website or by going
directly to
http://services.choruscall.com/links/rxe110628.html.
A recording of the call will be available at
www.rxexploration.com shortly after the completion of the Investor
Call.
"I look forward to introducing myself and telling shareholders a
little more about the new RXE nominees on the call," said RXE
designate President and CEO Darren Blasutti. "RX Exploration is an
exciting company that could have a bright future but it's up to
shareholders to vote BLUE and make this happen. I invite
shareholders to join me as I discuss our plan to transform assets
in the ground into sustainable, long term value for
shareholders."
Dissidents continue attempts to distract from the facts
In their letter of June 24, 2011, the dissidents failed to
address 11 critical questions raised by the RXE nominees. Indeed,
their answers would be comical if the issues were not so serious
and the stakes for RXE not so high. For example, in response to a
concern raised about a $60,000 cheque that then-CFO Max Polinsky
wrote to himself, the dissidents responded by claiming that he had
signing authority. His authority is not the issue. The dissidents
still have to explain if he abused this authority and concealed
that abuse from the Board.
We respectfully submit that shareholders deserve straight
answers to the direct questions that have been asked. In the
meantime, we have posted our detailed response to the dissidents
letter on the RXE website at:
http://rxexploration.com/proxycontest/proxy_contest_news_filings/.
"Fortunately, shareholders and independent proxy advisors are
focusing on what actually matters and are refusing to be fooled by
the dissident distract and distort tactics," said John O'Donnell,
Chairman of RXE. "RXE's nominees have now been endorsed by Sprott,
the Company's largest shareholder, and by both of North America's
top proxy advisors, Glass Lewis and Co. and Institutional
Shareholder Services. They were not distracted from the facts and
we caution shareholders to avoid the dissident trap. The
independent proxy advisors objectively considered the historical
facts and recognized the risk that the dissidents represent and the
upside of the RXE nominees."
"The steadily increasing flow of BLUE proxies suggests that many
of you have correctly determined who is in the best position to
deliver value. On the one hand you can vote for the dissidents who
have stated their intention to extract hundreds of thousands of
dollars from RXE to cover the costs of their dissident action, if
they're successful. Alternatively, every vote for the BLUE proxy is
a vote for experienced mining and corporate executives who can
build a world-class mining company and create long term sustainable
value for all shareholders. Every vote is crucial at this point so
it's important that if you have not yet voted, or previously voted
the other proxy that you vote the BLUE proxy today."
Vote your BLUE proxy today.
RXE recommends that shareholders vote only the BLUE proxy FOR
the RXE nominees as the primary step towards real value creation. A
completed BLUE proxy will replace any previously voted proxy -
dissident or the original Management proxy mailed in May.
In order to be counted at the Annual and Special Meeting of
Shareholders, the BLUE proxy should be voted well in advance of the
proxy voting deadline of July 4, 2011 at 4:30 p.m. (Toronto time).
Please do not attempt to mail your proxy unless you have no other
alternative. Shareholders who require assistance voting the BLUE
proxy should please contact Laurel Hill Advisory Group at
1-877-304-0211 or by e-mail at assistance@laurelhill.com.
The vote will take place at the adjourned Annual and Special
Meeting of Shareholders on July 6, 2011 at 4:30 p.m. (Toronto time)
at the Ontario Bar Association Conference Centre, Salon 3, 20
Toronto Street, Toronto, Ontario M5C 2B8.
About RX Exploration Inc.
RX Exploration Inc. is a gold exploration company whose strategy
is to re-examine gold and silver projects within North America that
have previously reached advanced exploration, underground
development or past gold or silver production. The Company is
currently focused on re-starting production from its Drumlummon
Mine, a past producing high-grade, bonanza-type, epithermal
underground gold and silver mine in Montana.
The Company's shares are listed on TSX-V (Symbol: RXE) and on
the OTCQX (Symbol: RXEXF). There are 160,438,980 common shares
issued and outstanding.
Cautionary Statement Regarding Forward Looking Information
This press release contains "forward-looking information" within
the meaning of applicable securities laws. Forward-looking
information includes, but is not limited to, the Company's
expectations, intentions, plans and beliefs with respect to, among
other things, the Drumlummon property. Often, but not always,
forward-looking information can be identified by forward-looking
words such as "anticipate", "believe", "expect", "goal", "plan",
"intend", "estimate", "may" and "will" or similar words suggesting
future outcomes, or other expectations, beliefs, plans, objectives,
assumptions, intentions or statements about future events or
performance. Forward-looking information is based on the opinions
and estimates of the Company as of the date such information is
provided and is subject to known and unknown risks, uncertainties
and other factors that may cause the actual results, level of
activity, performance or achievements of the Company to be
materially different from those expressed or implied by such
forward-looking information, including the ability to develop and
operate the Drumlummon property, risks associated with the mining
industry such as economic factors (including future commodity
prices, currency fluctuations and energy prices), failure of plant,
equipment, processes and transportation services to operate as
anticipated, environmental risks, government regulation, actual
results of current exploration activities, possible variations in
ore grade or recovery rates, permitting timelines, capital
expenditures, reclamation activities, social and political
developments and other risks of the mining industry. Although RXE
has attempted to identify important factors that could cause actual
results to differ materially from those contained in
forward-looking information, there may be other factors that cause
results not to be as anticipated, estimated or intended. Readers
should be aware that this forward-looking information is subject to
known and unknown risks, uncertainties and other factors that could
cause actual results to differ materially from those suggested by
such information and are cautioned not to place undue reliance on
such information. By its nature, forward-looking information
involves numerous assumptions, inherent risks and uncertainties,
both general and specific, that contribute to the possibility that
the predictions, forecasts, projections and various future events
will not occur. The Company undertakes no obligation to update
publicly or otherwise revise any forward-looking information
whether as a result of new information, future events or other such
factors which affect this information, except as required by
law.
On Behalf of the Board
John F. O'Donnell, Chairman of the Board
John A. Ryan, Chief Financial Officer
Neither 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.
Contacts: Shareholders: Laurel Hill Advisory Group Toll-free
877-304-0211 Collect: 416-304-0211 Media: Longview Communications
Inc. Joel Shaffer 416.649.8006 jshaffer@longviewcomms.ca Longview
Communications Inc. Alan Bayless 604.694.6035
abayless@longviewcomms.ca
RX Gold And Silver (TSXV:RXE)
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RX Gold And Silver (TSXV:RXE)
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