Mayfair Gold Corp Faces Proxy Battle from Muddy Waters Capital LLC

Mayfair Gold Corp., a leading mineral exploration company, finds itself in the midst of a proxy battle initiated by Muddy Waters Capital LLC, a prominent investment firm, as announced today.

Carson Block, Founder and Chief Investment Officer of Muddy Waters, expressed concerns regarding the Board of Mayfair, specifically noting delays in key objectives and uncertainty in decision-making.

Muddy Waters, holding a significant stake in Mayfair, aims to reconstitute the Board, targeting changes in leadership, including potentially replacing Harry Pokrandt and adding a new director.

With control over a sizeable number of Mayfair shares, Muddy Waters exercises its influence to address governance issues and enhance shareholder value.

Under regulatory requirements, a formal report will be filed on SEDAR+ by Muddy Waters in relation to the proxy battle with Mayfair.

Mayfair responded promptly, reaffirming its commitment to good governance and value creation, stressing the importance of a proactive approach in Board recruitment and shareholder engagement.

The Board of Mayfair acknowledged Muddy Waters’ demands but called for compliance with nomination procedures and emphasized the need for informed decision-making in Board appointments.

Despite Mayfair’s willingness to evaluate Muddy Waters’ nominees, the Company highlighted the significance of due diligence and the integrity of the nomination process.

The ongoing dispute reveals differing perspectives on corporate governance and strategic leadership between Mayfair and Muddy Waters, setting the stage for a potentially contentious boardroom battle.

As the situation unfolds, investors and industry observers await further developments and clarity on the future direction of Mayfair Gold Corp.