From: Robert Meister
Sent: Wednesday, June 22, 2011 4:56 PM
Subject: CNYC
Hello,
Because I have been (understandably) inundated with questions, comments and suggestions I thought I would contact everyone with one email.
Please excuse the broadness of my response as I am trying to answer numerous concerns.
First and foremost let me express the fact that we are very frustrated and disappointed with all the delays. We(Management, Staff and friends and family) are all very heavily invested in Canyon Copper and do see a very bright future ahead and we all have very high expectations for our company.
Most of you are asking the same question as to why the financing has not been completed so I will try to answer this as best I can:
We have raised approximately $2.2 Million now, from that we must deduct all fees (lawyers fees, brokerage fees, etc) which is where we are finding the difficulty at the moment. We have raised enough money to meet the minimum listing requirements of the exchange however after me deduct these extra costs/fees we are finding ourselves under the minimum requirement set out for us by the exchange. Some of you have suggested that management step up and pay this amount…. We are all professionals here and all have vast experience in the market and the industry so please let me assure you that we are trying every “angle” possible to complete this. It isn’t as straight forward as you may think. We (management) are under very strict scrutiny from the exchange and are very handcuffed in what we are allowed to do. Our Management has already put most of their shares in escrow already plus we are in discussions (internally) about cancelling a number of warrants also. So please understand we are trying to do everything possible to ensure that the listing is done and done legally (and under the rules and regulations that are being set out for us by the exchange). With that being said; we have opened discussions with the exchange for Tony (Chairman) to finance the residual amount required,,, but he is personally at a point of share ownership (% wise) that the exchange would rather not see that happen. BUT we are still pursuing this matter and we are awaiting their approval. If they approve this then Tony will be stepping forward to compete whatever is necessary.
With that aside: What seems like an easy task of raising $100,000 to $150,000+ (minimum) has become more and more difficult due to numerous factors (economy, market bear market, exchange rules, etc) but we (Canyon Copper and MGI Securities)are in discussions with NUMEROUS people on a daily matter to get this done. We are having conference calls with our Brokers (MGI) every day pushing them to get this completed… and they have heard our displeasure with all these delays.
I must regrettably ask you for patience. This will get done and will be done very shortly. We have plans in place and the ability to complete the listing requirements but we are being asked to “jump through hoops” but we will “Jump through these hoops” if necessary to get this done.
I can assure everyone that when this is all completed we do have a number of VERY POSITIVE news releases that will be following our listing. We are all diligently working to get the financing done and also prepare to launch an exploration program and promotional program for Canyon Copper.
We (Canyon Copper) are all very frustrated with the delays, excuses and negative situation we are in BUT we see the light at the end of the tunnel and are all eager to commence the real work in moving Canyon Copper forward. I can assure everyone that things are definitely in the final stages here and we are talking about the last week or so before all these loose ends are tied up and we are finally able to move forward.
ALSO: let me communicate to you that all I am able to do is forward you information that I have been told or sent. I am only able to communicate information that is available for public/shareholder knowledge. With that being said let me assure you that Tony Harvey (Chairman) and the rest of the management here are working diligently, professionally and in the best interest of our shareholders to move Canyon Copper forward in ALL respects. I know that this process has been frustrating and annoying but it has been frustrating for all of us… We wanted to have all of these details signed off on a LONG time ago and we have all been working to get everything done as quickly as possible.
I will continue to do my best to keep everyone as best updated as possible.
Thank you for your continued support.
Robert (Bob) Meister
