Concerned Shareholders of Clifton Star Resources Inc.

May 26, 2015 17:18 ET

Concerned Shareholder Withdraws Requisition for a Special Meeting of Shareholders of Clifton Star Resources Inc.

MONTREAL, QUEBEC--(Marketwired - May 26, 2015) - Harry Miller, the former President of Clifton Star Resources Inc. (the "Company"), announced today that his Requisition for a Special Meeting of Shareholders to replace the Board of Directors has been withdrawn. This decision follows the completion of the highly dilutive private placements that the Company announced on March 2, 2015.

"What I had proposed would be in the interests of all shareholders, but the Company's Directors have successfully entrenched themselves at shareholders' expense. To continue to pursue needed Board change would be a costly and likely fruitless endeavour, given the recent actions by the Board," said the Company's former President, Harry Miller. "The onus is now on this Board and management team to match their words with results. From the private placement, to engaging an expensive proxy solicitor - despite my decision to not add additional director nominees to the slate at the last AGM - this Board has spent liberally and diluted long-suffering shareholders. As the former President and one of the largest shareholders of the Company, I will continue to watch the actions of this Board and hold it to account."

Contact Information