- Core Gold has identified disclosure and misinformation issues by its former CEO to the TSX Venture Exchange and the British Columbia Securities Commission, including his recent press release on April 1, 2019 which constitutes unlawful disclosure of confidential corporate information
- Disgruntled former CEO’s alarming self-interested actions include:
- Repeatedly breaching his duty of confidence
- Acting without Board authority to negotiate two non-binding letters of intent which would breach Core Gold’s contractual agreement with Titan Minerals Limited
- Unilateral and unlawful disclosure of Core Gold’s confidential information
- Misappropriation of corporate funds
- Former CEO’s conduct appears to be driven solely by a desire to regain and entrench his position as CEO and to prevent the Titan transaction at any cost which would conveniently leave him as Core Gold’s CEO while leaving Core Gold shareholders to receive no value
- Former CEO is simply lying about a so-called competing proposal, which was highly conditional and non-binding, and at no time was actionable by Core Gold, or superior, or even comparable, to the Titan transaction; no subscription agreement was ever executed
- The Core Gold Board continues to support the Titan transaction as the best value-creator for Core Gold shareholders and believes that the former CEO’s press releases are self-serving, distractive and potentially harmful to Core Gold and its shareholders
VANCOUVER, April 3, 2019 /CNW/ – Core Gold Inc. (“Core Gold” or the “Company“) (TSXV: CGLD, OTCQX: CGLDF) is issuing this press release to correct self-serving, false, misleading, defamatory and inaccurate disclosures made by its terminated former CEO, Mr. Keith Piggott, in a press release issued on April 1, 2019. Mr. Piggott was terminated for cause by Core Gold in March, 2019. Mr. Piggott remains a director of Core Gold.
Mr. Piggott’s press release misrepresents and omits many significant and important facts and was issued for entirely self-serving purposes. Rather than identify some nefarious action by the Core Gold board of directors (the “Board“), his press release only serves to show that Core Gold and its Board have acted with the best interests of its shareholders in mind, while at all times being mindful of its contractual obligations and its obligations under securities and other laws, all of which Mr. Piggott continues to misunderstand, ignore and breach. Mr. Piggott, through his press release, continues to provide the corroborating evidence that justifies his termination for cause by Core Gold.