Liberty Silver Corp: An Open Letter to Shareholders of Sennen Resources

TORONTO, ONTARIO--(Marketwire -08/09/12)- Geoff Browne, chairman and chief executive of Liberty Silver Corp. (LSL.TO)(LBSV), issued the following open letter today to shareholders of Sennen Resources Ltd. (SN.V):

Dear Sennen Shareholder:

You will by now have seen the directors' circular issued by Sennen on July 30, 2012, in response to our offer to acquire all Sennen's shares.

While Sennen has repeatedly portrayed our offer as hostile, our first preference remains to conclude a friendly transaction that will benefit the shareholders of both Sennen and Liberty Silver. As we have said from the start, we believe there are compelling reasons for a combination of our two companies.

Your decision whether to accept our offer should be guided by two over-riding considerations:

We are confident that Liberty Silver meets the test on both counts.

Which board and management team deserves your trust?

- Sennen alleged in a press release dated July 27, 2012 that Liberty Silver initiated its offer "without any prior discussion with Sennen management, and consequently, without providing Sennen any prior opportunity to conduct meaningful due diligence on Liberty".

This is a self-serving version of the facts. Our advisors tried for weeks to set up a meeting with Sennen to discuss our proposal, and I tried on numerous occasions to make contact with Ian Rozier, Sennen's chief executive officer, prior to announcing the offer. Liberty Silver's directors and advisors have also tried, so far without success, to contact the Sennen special committee to discuss our offer.

The truth is that we have given Mr. Rozier and his fellow-directors ample opportunity to discuss our offer and conduct due diligence, but they have chosen not to do so. Liberty Silver remains open to negotiations and any due diligence that Sennen may wish to conduct.

Continued here:
Liberty Silver Corp: An Open Letter to Shareholders of Sennen Resources