Crown Point Responds to Misleading Comments from Dissident - Seite 2
Crown Point's Board and management are fully aware of their fiduciary obligations and have acted and continue to act in the best interests of the Company with respect to LAIG's Inferior Proposal as well as the Strategic Financing.
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Crown Point Acted Responsibly − Contrary to LAIG's assertions, Crown Point acted responsibly in responding to LAIG's Inferior Proposal by requesting more information. The only
thing that Crown Point rejected was the demand for exclusivity on one day's notice. This coercive demand would have required Crown Point to terminate or suspend financing discussions with other
parties.
- Finalizing Strategic Financing − When LAIG made this exclusivity demand, Crown Point was finalizing the terms of its Strategic Financing. Had Crown Point acquiesced to LAIG's demand, the timely signing of the Strategic Financing agreement and the eight months of effort that preceded it would have been at risk. It would not have been in the best interests of Crown Point's shareholders for the Board to have jeopardized the Strategic Financing in favour of the coercive terms of LAIG's Inferior Proposal.
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