from the other board.

kn

So I must update my post od the other day...Mr. Novak will be proceeding with the AGM on the 19th, as well as keeping the RS as is up to 10 for 1....This was really quite a shock to me, since he gave the impression in our last talk that things could be changing....He took the position that the "up to 10 for 1" RS, did not necessarily mean 10 for 1...it could be less...In my view it means just that, He would be given the authority by shareholders to a RS 10 for 1....

As you can tell I am deeply disappointed in his decision...HE KEPT SAYING, WELL WE DON'T HAVE TO DO A 10 FOR 1...So I asked why do you need the authority then for a 10 for 1.....He responded that this was in the best interest of SPQ shareholders, but I told him, that this would be the exact opposite, and that many many shareholders were very disappointed in his timing of this announcement, as well as the announcement itself...

He would like me to call him after the release of NI43-101.to see where the situation stood with SPQ....He also mentioned that the Company was interested in attracting Big investors, with the 10 for 1 split....I responded in the most strenuous way, that he was making a mistake, and that I would join most of the rest of SPQ shareholders, and oppose this RS very strenuously, and vigorously, just as we did the last time he proposed this same RS...

So some of you may think I,ve been had...that,s your choice,,,I tried my best to convince them otherwiswe,,Don't know if it all his ideas or the BOD...But I shall quickly turn to and begin preparations for this proxy fight, withm the view to defeat it...Remembeer they need 66.7% of SPQ holders to pass this RS, and we only need 1/3 of SPQ holders...If anyone wishes to help me organise this campaign against this RS, please come forward.m and let me know..or IF you'd like to lead said campaign against, you can count on me....


IMCO
JD*