A group of dissident shareholders of Zenyatta Ventures took control of the graphite junior mining company at a special meeting in Toronto May 11, turfing four of the six directors, including president Aubrey Eveleigh and executive chairman Keith Morrison.
Francis Dubé, Brian Bosse and Eric Wallman were elected to replace them. Everleigh resigned as CEO on April 17 but had remained with the company as interim president and director as Zenyatta began a search for his successor.
The Thunder Bay-based exploration company owns the high-purity Albany graphite project, west of Hearst.“For a group of dissident shareholders to band together and unseat extremely entrenched incumbents is rare to say the least,” commented one shareholder at the meeting.
“We accomplished this with a broad group of shareholders across Canada and from around the world who are well informed, extremely passionate and tired of seeing their stock deteriorate. They know the fundamentals are strong and they voted for change.”
Remaining on the board are Brent Richards and Brian Davies. The dissident shareholders grew tired of waiting for Zenyatta management and its board of directors to advance the project.