MONTREAL, Feb. 12 /PRNewswire/ -- RAYMOR INDUSTRIES INC. (TSX Venture RAR, RAYRF) is a leading Canadian developer of high technology and a producer of advanced materials and nanomaterials for high value-added applications. Raymor holds the exclusive rights to more than 20 patents throughout the world, with other patents pending.
Shareholders have formed a group to fight to protect our shareholder rights and prevent the current board of directors from delisting and the eliminating the common shares of the corporation. The group is called The Raymor Investors Special Action Group. The group is sending out this communication to get the attention of the 8000 shareholders and advise them that an appeal to the recent January 27, 2010 court ruling has been launched and is underway. A strong and reasonable chance exists that the appeal can be won. In the event the appeal is successful, an immediate Special Shareholders Meeting will be called to reverse the recent delisting of our shares and a new board of directors whose interests are in line with protecting the rights of the common shareholders will be elected.
Why has the Raymor Board of Directors not provided material information to shareholders?
Why have audited financial statements not been produced and disseminated?
Why was the positive outcome of the Nanotechnology litigation not disseminated?
Why has the recent milestone, signing of the Nanotechnology licensing agreement between Raymor, National Research Council (NRC) and University of Sherbrooke not been disseminated to shareholders and the market?
Why has a Special Shareholders Meeting not taken place?
Why has the Raymor Board of Directors not acknowledged nor disseminated the fact that shareholders submitted a financial offer to the company?
Did the Raymor Board of Directors have quorum to accept $6.5M proposal?
Are the Raymor Board of Directors acting with fiduciary responsibility?
Are shareholders rights being protected?
The website can be found at http://www.RaymorInvestors.com.
We require your participation and support, and time is of the essence.
SOURCE The Raymor Investors Special Action Group