TNR Gold Cancels Shareholder Meeting Despite Strong Support
News related to:TNR Gold Corp · 2 min read
TNR Gold Corp. has faced a significant setback as its board has canceled an upcoming shareholder meeting, despite overwhelming support from its largest shareholders. According to Eucalyptus Resources Opportunities Fund 1, LP, which, along with its joint actors Jon Christian Evensen and Alicia Cauteruccio Evensen, holds the largest stake in the company, over 46% of shares have supported the Eucalyptus nominees.
The cancellation of the annual general and special meeting, originally scheduled for September 22, 2026, has drawn strong criticism from Eucalyptus Resources. The company claims that the board’s actions are a desperate attempt to maintain control, contrary to the will of the shareholders. Eucalyptus Resources has already taken legal action, seeking a court order to preserve the votes of shareholders and ensure that the Meeting is respected and recognized by the company.
"The board has made it even clearer that they do not care about shareholders or their rights. All they care about is staying in charge."
The cancellation of the Meeting comes in the wake of a long-standing campaign by Eucalyptus Resources for new leadership at TNR Gold Corp. The company had previously called for new leadership in June 2025, highlighting a track record so poor that the share price only began to move once Eucalyptus Resources publicly called for change.
Eucalyptus Resources has also been made aware by several shareholders that, prior to the purported cancellation, they received aggressive and threatening letters from TNR’s legal advisors.
Eucalyptus Resources has retained Farris LLP as its legal counsel and Laurel Hill Advisory Group as its strategic shareholder communications advisor. The company has also notified the British Columbia Securities Commission of TNR's Scare Letters and the associated press release making allegations of "conspiracy" and a purported "investigation."
The cancellation of the Meeting has raised concerns among shareholders and has put the board of TNR Gold Corp. under intense scrutiny. The company is now facing the possibility of legal action and a potential loss of shareholder support, which could have significant implications for its future operations and leadership structure.