Concerned Creston Shareholders

June 22, 2009 08:21 ET

Concerned Creston Shareholders Requisition Shareholders Meeting

TORONTO, ONTARIO--(Marketwire - June 22, 2009) - A group of concerned shareholders (the "Concerned Shareholders") of Creston Moly Corp. (TSX VENTURE:CMS) ("Creston"), holding more than 5% of the shares of Creston, announce today they have delivered to Creston and to its Board of Director a formal Requisition for a special meeting of the shareholders.

The meeting has been requisitioned pursuant to section 167 of the Business Corporations Act (British Columbia) to give shareholders the opportunity to vote against the proposed merger transaction with Tenajon Resources Corp. ("Tenajon") and to elect a new Board of Directors for Creston.

The Concerned Shareholders believe the proposed merger with Tenajon is not in the best interests of Creston or its shareholders. The Concerned Shareholders believe the proposed transaction is overly dilutive to Creston shareholders and has been structured to avoid giving Creston shareholders an opportunity to vote on the proposed merger.

The Concerned Shareholders believe the proposed merger with Tenajon has been poorly negotiated and are disappointed with the management of Creston's assets and therefore seek to replace the Board of Directors.

Contact Information

  • Concerned Creston Shareholders
    Carl DiPlacido
    416-917-5039