While no Meeting materials have been issued and no proxy is being solicited at this time, the Concerned Shareholder wanted to share this update with the market and fellow Wescan shareholders. Both as an incumbent director of Wescan and as Wescan’s largest shareholder, the Concerned Shareholder has serious concerns regarding Wescan’s under-performance and governance.
The Concerned Shareholder believes a refreshed Board of Directors comprised of the Concerned Shareholder Nominees, who have the appropriate experience and skill set, will not only enhance the governance of Wescan but will also be in the best position to, among other things:
- evaluate, update and provide oversight on management’s execution of Wescan’s business strategy;
- review Wescan’s financial position and provide oversight on cashflow management; and
- restore shareholder confidence in Wescan and improve communications with shareholders and other stakeholders, including timely, fulsome disclosure to markets regarding Wescan in accordance with securities law requirements.
The information contained in this press release does not and is not meant to constitute a solicitation of proxies within the meaning of applicable securities laws.
The Concerned Shareholder has retained Norton Rose Fulbright Canada LLP as his legal counsel.
A copy of this press release may be obtained on Wescan’s SEDAR profile at www.sedarplus.ca.
|
__________________________________ |
|
1 Based on the 41,347,958 common shares issued and outstanding as at March 31, 2023 according to the Wescan’s financial statements for the year ended March 31, 2023. |
SOURCE Leo Berezan
View original content: http://www.newswire.ca/en/releases/archive/August2023/15/c9305.html