Welcome to the Crystallex HUB on AGORACOM

Crystallex International Corporation is a Canadian-based gold company with a successful record of developing and operating gold mines in Venezuela and elsewhere in South America

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Message: Waiting, Patiently?.

i am not researching beyond what Gowlings has written

So:

Let me go over a few stuff.

Gowling was hired by the select Crystallex Committee (Shareholders) to represent them in a fight against Tenor and their group (Stakeholders) to preserve whatever investment there is left in the pie and to prevent them from reducing this share from12% which it is now to ZERO.

Then:

Gowlings comes forward with an offer to others outside the "Committee" like ourselves to sign on as an opt-in shareholder. Why?

"While it is possible that a shareholder who is NOT an Opt In may derive benefit from the efforts of the Committee and GWLG, neither the Committee nor GWLG represent such shareholders and they owe no duties to such shareholders."

Gowlings is suggesting that if you are not part of their group that any settlement resulting from their legal efforts "may" not "will" may not benefit from 'efforts of the committee".

In my humble opinion:

If the judge agrees with Gowlings, positively, I do not think the judgement would be selective for the Committee only and Opt-in members only. Gowlings admits that. (don't forget they are lawyers and have to be careful what they say). There must be millions of share owners out there who may not even know this is going on out there

"Specifically, the Committee need only consider the interests of the Opt Ins. For example, in representing the Opt Ins the Committee must consider and may choose to accept any settlement offer proposed to the Committee where such an offer includes benefits only for the Opt Ins, excluding other shareholders." Maybe true for Gowlings but not necessarily the Judge's.

If that is so then it is stupid for the Committee, who hope and expect to win, to want to share their success with underlings such as ourselves. On the otherhand perhaps Gowlings and the Committee require the leverage of our support to help justify to the judge the Committee's rightful demands. There is a disconnect here asking why is Gowlings soliciting our help. (It would also be interesting to know the ratio of total shares the Committee members have to the total shares the Opt-ins have. i doubt Gowlings will publish this information but it is a curiosity)

"Gowling takes instructions from the Committee only."

"Opt Ins are prohibited from acting in any manner that impairs or otherwise interferes with the Committee executing its mandate. If the Committee deems an Opt In to be acting in such a manner, the Committee may cause that Opt In to cease to be represented."

Gowlings is looking ahead here but i am wondering to whom they are addressing this statement to and the meaning behind it. Maybe me. How can little ol' me or anyone else in our group impair or interfere with the Committee's undertaking. After all, they are saying we can ask any question and the Committee will consider them so I'm asking. "Opt Ins may contact the Committee to raise issues and concerns and the Committee will consult with Gowlings as the Committee deems appropriate".

"Upon resolution of these issues to the satisfaction of the Committee, we will provide a copy of the opt-in agreement to the shareholders wishing to opt-in. We appreciate your patience in the mean time."

Obviously, the Opt-in offer was put out there to see what the response would be and witout prejudice. The response appears to be overwhelming. SO now what we are waiting for is the exact written Opt-in agreement which they are now preparing and to be ultimately and perfectly legal for the protection of all have to cover loose ends and to pay for legal costs (WE would share this with the Committee likely - But only the Committee and the Opt-ins would be paying.) "Upon resolution of these issues to the satisfaction of the Committee" in the proposal to us, set for signing by each who want to opt-in. We will get this written up propsal either by e-mail (probably not) or by mail (Likely). Lot's of paper work to assemble - takes time - spell checker.. But eventually...

"It remains the intention of the Committee to sponsor a full opt-in process."

In closing Gowlings has my mailing address.

Good luck to all.

MAGA

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