It has been a month and a half since the PP was announced.

http://www.theglobeandmail.com/globe-investor/news-sources/?mid=tnw.20130911.160373

In the past couple years with this company, it seemed most of existing shareholders, especially those on this forum, have been neglected taking part in PP,s for SLI, IGD and even the infamous Havillah. I know I have asked to participate in PP,s announced by the above companies in the past, and were told they were full, upon initial request. The SLI PP of 2011 saw no shareholders that I know of out of this camp being allowed to participate. I also question the amount of that PP that Lori herself took, almost half of it, with supposed friends and family taking the rest, as per rumour, or fact.

I was told an IGD PP announced last year was full, that I couldn,t participate, but in reality, when closed, it was not full, only around 10% or so if memory serves me correctly. The Havillah PP, I was intially neglected from it by being told management was taking it all. Come to find out, later I could get in on it, but it never came to fruition. So a long record of being deprived from any PP,s with any attached companies to SLI as well as SLI, for me.

Several, at least, shareholders have called to participate in this announced PP, but have not received any forms. Does this mean that insiders are taking all this PP too? It has been a long time, a month and a half, and at a time when the registry must be very low. There would be no more excuses as to sell more properties, whereas this PP could have been filled rather quickly. Also, I should mention in our case, that shareholder approval should have been sought, whereas policy 4.1 would clearly show any prolonged actions by the BOD would be a stalling tactic under the take over bid regs.

(b) The Exchange may also require Shareholder approval to be obtained by the Issuer for a Private Placement that appears to be undertaken as a defensive tactic to a takeover bid. See National Policy 62-202 -

Take-Over Bids - Defensive Tactics .

IMO, there is certainly NO excuse for the current BOD to incompetently approach and execute a much needed PP. With managements impressive background in security legislation, as well as brokerage experience, specifically Lori, ignorance to policy is no excuse. Also, the Exchange and regulators, once again come into play here, by neglecting investor protection, should any harm come to shareholders as a result of the current BOD actions in regards to this PP.

We have also seen no reconciliation nor clarified reasons for this PP. The companies past track record of monitoring travel expenses, among all others, seemed deficient and at this grave time, shareholders were owed an explanation exactly to what the funds would be used for in relation to the company. To date, there have been very questionable acts by the BOD in leaving valuable properties go, for each one or asset that disappears, it only reinforces any case the shareholders have against all that can be placed accountable, the Exchange, regulators and government reps included. To date, there has been no indication of mitigation of risk by the above mentioned.

thank you

rick