Mosquito Consolidated Gold Mines Limited (MQCMF: OTC Link) | ISS Recommends Mosquito Shareholders vote for Incumbent Managements Proposed Director Slate

ISS Recommends Mosquito Shareholders vote for Incumbent Managements Proposed Director Slate

Dec 14, 2011

OTC Disclosure News Service

Vancouver, BC, Canada –

MOSQUITO CONSOLIDATED GOLD MINES LTD.

MSQ-TSX-VENTURE

Tel: 604-689-7902                                   WWW.MOSQUITOGOLD.COM                                   FAX: 604-689-7816

 

ISS Recommends Mosquito Shareholders vote for Incumbent Mangements proposed Director Slate

 

Vancouver, December 13, 2011 – Mosquito Consolidated Gold Mines Limited (Mosquito – TSX Venture: MSQ, OTC-QX: MQCMF) announced today that ISS Proxy Advisory Services, the independent global leader in proxy advisory consulting, has recommended that shareholders vote FOR Mosquito Incumbent management’s entire slate of eight nominees for the Company’s Board of Directors.

 

The Incumbent management’s slate is set out on the WHITE proxy card. ISS has recommended that shareholders “Do Not Vote” for the slate proposed on the blue proxy of the dissident shareholder group.

 

In its opinion in support of the incumbent management’s proposed board, ISS states that “On Balance, the board appears to be taking steps to execute a reasonable plan.” And they go on to state that they “believe that shareholders can give management more time to deliver on the project.” They also site the fact that “management has publicly committed to form key committees comprised entirely of independent directors.”

 

ISS also commented that “we believe management has raised a valid concern over the apparent lack of US-specific experience or American nominees on the dissident slate, which could be concern to shareholders considering that the company’s flagship property is in Idaho.” Finally, ISS states “the dissident plan is light on details and it is not clear that the dissident slate could necessarily be better able to create value.”

 

Protect our investment in Mosquito – Follow the recommendation of ISS:

 

Vote your white  proxy and discard the blueaskus@georgeson.com

 

Please discard any BLUE proxy or related materials you may have received from the Dissidents and vote using only the control number on Management’s proxy.

 

On Behalf of the Board

MOSQUITO CONSOLIDATED GOLD MINES LTD.

 

Brian McClay

Brian McClay

President

 

About Mosquito Consolidated Gold Mines

 

Mosquito Consolidated Gold Mines Limited is a mining exploration and development company with a diverse portfolio of high potential precious and base metals projects, located in North America. The Company’s primary focus is developing its Idaho-based CuMo project, one of the world’s largest molybdenum deposits. For more information, please visit www.mosquitogold.com 

THIS NEWS RELEASE WAS PREPARED BY MANAGEMENT WHO TAKES FULL RESPONSIBILITY FOR ITS CONTENTS. THE TSX-VENTURE EXCHANGE does not accept responsibility for the adequacy or accuracy of this release.

This news release includes certain statements that express management’s expectation or estimates of future performance and may be deemed “forward-looking statements”.  These forward-looking statements include plans, estimates, forecasts and statements as to management’s expectations regarding the CUMO Project. These forward-looking statements involve assumptions, risks and uncertainties and actual results may vary materially.  For these reasons shareholders should not place undue reliance on such forward-looking information.

United States residents are cautioned that some of the information that may be published by Mosquito may not be consistent with United States Securities and Exchange Commission disclosure rules and may be materially different from what the Company is permitted to disclose in the United States and therefore United States residents should not rely on such information.

 

 

 

 

 

 

 

The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.

Article source: http://www.otcmarkets.com/stock/MQCMF/news?id=39541

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