Concerned Stockholders Affirm Nomination of Director Candidates to Drive Change at Ionic

Core Viewpoint - The Concerned Stockholders of Ionic Digital Inc. are advocating for change in the company's board of directors following a Delaware Court ruling that found the current board breached its fiduciary duties, leading to a new nomination of two candidates for the upcoming election [1][2][3]. Group 1: Court Ruling and Board Nomination - The Delaware Court of Chancery ruled that the Ionic board breached its fiduciary duty by reducing the board size to entrench itself during a proxy contest [2]. - The Concerned Stockholders have re-nominated Mike Abbate and Oliver Wiener for two Class I Board seats at the 2025 annual meeting scheduled for July 2, 2025 [3]. Group 2: Misleading Claims and Stockholder Rights - The Concerned Stockholders aim to correct misleading statements made by the current board, emphasizing the need for transparency and accountability [4][5]. - The current board's claims of conflicting interests with stockholders are refuted, asserting that the primary goal is to create stockholder value and generate liquidity [5]. Group 3: Candidate Qualifications - Mike Abbate and Oliver Wiener are presented as highly qualified candidates with extensive backgrounds in capital markets, corporate finance, and the cryptocurrency sector [3][11][12]. - Oliver Wiener has over two decades of experience in investment banking and has founded a private equity firm, bringing significant expertise compared to the incumbent board [8][12]. Group 4: Financial Transparency Issues - The current board has been criticized for failing to provide standard financial disclosures and has not released any data regarding costs and expenses over its existence [9]. - The Concerned Stockholders highlight the lack of transparency regarding payments to investment banks engaged by the company, raising concerns about financial management [9]. Group 5: Call to Action - Stockholders are urged to reject the current board's proxy card and support the election of Abbate and Wiener to restore transparency, accountability, and liquidity to Ionic [10].