Paulson & Co. Inc. To Request Detour Gold Special Meeting Be Held By No Later Than September 28, 2018
July 19 2018 - 8:56AM
Paulson & Co. Inc. ("Paulson"), one of the largest
institutional investors in Detour Gold Corporation
(TSX:DGC) ("Detour Gold" or the "Company”) announces that it
intends to requisition a Special Meeting of Shareholders of the
Company shortly, to replace a majority of the Company’s
directors. Paulson will request that the Special Meeting be
held by no later than September 28, 2018.
Paulson is increasingly concerned that rather than focusing on
the significant issues shareholders have raised, Detour’s
management and directors appear intent on using the Company’s
resources to engage in meritless litigation strategies. The current
board continues to attempt to deflect attention from their failure
to maximize shareholder value. Following our last press release on
July 18, counsel for Detour wrote to Paulson’s counsel threatening
litigation. Detour’s allegations are meritless. Paulson will
defend any false and misleading accusations made by Detour and will
hold the Company’s management and directors personally
accountable.
On July 18, 2018, Paulson issued and filed a press release in
which it stated that it had been in contact with the OSC in advance
of filing a press release earlier that date. Paulson wishes to
clarify that the OSC did not previously review that press release
and has not expressed its views on any of the
issues raised by Detour and Paulson. Paulson will
cooperate with the OSC on any and all issues.
About Paulson & Co. Inc.Paulson, founded in 1994, is an
investment management firm specializing in event-driven arbitrage
strategies with offices located in New York, London and
Dublin.
Contact DetailsInvestors:Dan Burch & Jeanne
CarrMacKenzie Partners, Inc.800-322-2885
Media:Joel ShafferLongview Communications & Public
Affairs416-649-8006