VANCOUVER, BRITISH COLUMBIA — (Marketwire) — 08/16/12 — Mundoro Capital Inc. (TSX VENTURE: MUN) has mailed today the following open letter to Mundoro shareholders, along with the GOLD proxy voting material, relating to the company-s upcoming annual and special meeting:
(A PDF copy can be found here: )
Dear Fellow Shareholder:
With little more than a week to go to our annual and special meeting, we are writing to underline the importance of your vote to the future of our company and the value of your investment.
This year-s meeting, on August 27, 2012, is particularly important because a group of dissident shareholders has launched a proxy contest that threatens to misdirect the transformation we have achieved over the past 18 months.
The dissidents- „hide-in-the-weeds“ tactics are evident from their belatedly issued circular on August 14, 2012 – only 9 days before voting deadline. The dissident circular and accompanying shareholder letter focus on three issues:
A history of failed tactics to replace entire board.
THE DISSIDENTS LACK TRANSPARENCY AND HAVE NO VALUE ADDED PLAN
Based on our analysis using best corporate governance practices, we believe the two nominees they have proposed are unsuited to your board:
The dissidents- leader.
Your board carefully considered their candidates.
Your board has gone out of its way to accommodate the dissidents.
In summary, your current management and board have made great strides in transforming Mundoro:
We Have Reduced Risk by Diversifying from China
We Have Strategically and Methodically Entered Two Very Promising Mineral Belts
We Take Pride in the Highest Corporate Governance Standards
In contrast, the dissidents have put forward NO concrete plan and have NO well recognised technical expertise. Their dissident circular loses no opportunity to lash out at the current board and management, but makes little attempt to put forward an alternative vision for Mundoro.
The dissidents appear to be continuing with their „creeping takeover“ tactics –
EVERY VOTE COUNTS!
We appreciate the many messages of support we have received in recent weeks. But we have no intention of resting on our laurels, and look forward to continuing the transformation that we have started for the benefit of all shareholders.
Sincerely,
John Hoey, Chairman of the Board
Teo Deche, Chief Executive Officer and President
About Mundoro Capital Inc.
Mundoro is a Canadian based company which operates as a mineral acquisition, exploration, development and investment company. The Company-s target areas are the Tethyan belt in South Eastern Europe and the Meso Central Belt in Northwestern Mexico, both of which are prolific mineral belts the Company believes have strong exploration and development potential. The Company maintains an interest in the Maoling Gold Project through its 5% interest in Mundoro Mining Inc.
Caution Concerning Forward-Looking Statements
Information included, attached to or incorporated by reference into this News Release may contain forward looking statements. All statements, other than statements of historical fact, included or incorporated by reference in this News Release are forward-looking statements, including, without limitation, statements regarding activities, events or developments that the Board expects or anticipates may occur in the future. These forward-looking statements can be identified by the use of forward-looking words such as „will“, „expect“, „intend“, „plan“, „estimate“, „anticipate“, „believe“ or „continue“ or similar words or the negative thereof. The material assumptions that were applied in making the forward looking statements in this News Release include expectations as to the Company-s future strategy and business plan and execution of the Company-s existing plans. There can be no assurance that the plans, intentions or expectations upon which these forward-looking statements are based will occur. We caution readers of this News Release not to place undue reliance on forward looking statements contained in this News Release, which are not a guarantee of performance and are subject to a number of uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors include general economic and market conditions, changes in law, regulatory processes, the status of Mundoro-s assets and financial condition, actions of competitors and the ability to implement business strategies and pursue business opportunities. The forward-looking statements contained in this News Release are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this News Release are made as of the date of this News Release and the Board undertakes no obligation to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise, except as required by law. Shareholders are cautioned that all forward- looking statements involve risks and uncertainties and for a more detailed discussion of such risks and other factors that could cause actual results to differ materially from those expressed or implied by such forward- looking statements, refer to the Company-s filings with the Canadian securities regulators available on .
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts: Mundoro Capital Inc. Teo Dechev CEO, President and Director 604-669-8055 604-669-8056 (FAX)
Kingsdale Communications Inc. Bernard Simon Vice-President 416-867-2304
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