Good afternoon, folks. An official press release will follow from me this weekend but I regret to inform you that Noront has terminated our online investor relations agreement.

Given the fact Paul Parisotto and his entire team virtually ignored and outright dismissed the importance of this HUB, this decision to terminate at their earliest opportunity does not come as a surprise to me or many Noront shareholders on this IR HUB.

QUESTIONING THE MOTIVES OF PARISOTTO

In a market environment in which public companies are desperate to acquire new shareholders and maintain current shareholders, this decision is truly baffling and leads me to question the true motives of the current board and management team.

This is not a matter of opinion or sour grapes at having lost a contract, this is a matter of raw data. Paul Parisotto and his team just turned their backs on 78,000 investors that read ~ 20,000,000 (million) pages of information in the first full year of our online investor relations agreement. 78,000 investors, 20,000,000 pages.

If you are truly looking out for the best interests of your company and its shareholders, how do you shut-off communications with this massive group of hungry investors? How do you do it when major markets are down more than 50% and your own stock is down even further?

PARISOTTO RATES THIS "IMMATERIAL"

I asked these very questions of Parisotto earlier today, when I suggested Noront issue a press release to advise shareholders they could no longer rely on the IR HUB for communications and his response was:

"We don't view this as a material agreement and isn't any different then letting go of our law firm or any other consultant. Investors can get their information from SEDAR, or the website"

On its face, he may be right. On its face. But you and I know better. Is he really that out of touch? I don't know, so I had to ask.

I reminded him this was no regular IR contract that produced a couple of PDF's and sat in a couple of booths. 78,000 people had come to rely on this HUB. As a result, lumping us in with a law firm underlies both his misunderstanding of the importance and power of this community, as well as, his refusal to connect with it.

His response? He hung-up the phone.

I've been in this business for 12 years now, so I am quite qualified to make the following objective conclusion based on what I have seen since the proxy battle began.

Quite clearly, the new regime neither wants to answer to the masses, nor wants you to have any input. For that matter, they really don't want your help, even if you did manage to single-handedly save the company. They would rather you went away. Literally. More concentrated ownership amongst a smaller group of shareholders makes their lives easier. Hence, why "rude" is the adjective most used when investors on this HUB describe their interactions with management or Joan Jobin. Go away. We want institutional ownership. They don't say it, they just don't give you the time of day.

Fortunately, their wish is not going to come true. This is a company with great projects, a great future and the ability to enrich the lives of everyone that contributed to its success. Everyone contributed to its success. We are not going to go away. Someone is going to go away but it will not be this community.

Regards,
George

p.s. I've seen some comments here lately about who did what during the proxy battle. Let me settle this once and for all. Richard Nemis was abandoned by everyone at headquarters other than Elaine. Everytime we tried to come up with a strategy, the "committee" headed by Parisotto stone walled it in the name of corporate governance. In fact, the only call Parisotto made to me was a "we are running the show, not you" rant in response to ideas and strategies we were providing to Richard Nemis. He didn't contact me again until 10 days before the vote where I had to painstakingly explain to him and Joe Hamilton what AGORACOM did for the company. It was painful and, yes, baffling.

Joan and The Firm were in Europe meeting with potential investors that owned little to no shares and, therefore, had no ability to support the company. I'll give her the benefit of the doubt because she took her orders from the board who, for some reason, thought a better use of her time was to sit the game out and shake some hands.

If I didn't know any better .... draw your own conclusions.

The pure truth of the matter is THIS community single-handedly saved the company. THIS community acted. THIS community rallied to help Richard Nemis. THIS community got out the vote - and it scared the shit out of the very people you saved.

Yet, we have all now been shown the proverbial door at the company's first opportunity. Markets are crumbling, investors are shaken ... and we have all been show the proverbial door.

Ask yourself, "why?".

I have asked myself this question and have drawn my own conclusions. Yet, this is a community in which we have all worked together towards the truth. I trust the collective braintrust of this community implicity. As such, I am now asking for your answers to "why?".

I look forward to hearing from all of you.

Regards,
George