Exhibit 17.1
▇▇▇▇ Lagadin
▇/▇ ▇▇▇▇▇ ▇▇▇▇, ▇▇▇-▇▇▇ ▇▇▇▇▇▇, ▇.▇.
▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇ ▇▇▇ ▇▇▇
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February 28, 2001
▇▇▇▇▇▇▇ Capital Corp.
▇▇▇▇ ▇. ▇▇▇▇▇▇ ▇▇▇▇▇▇
▇▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇ ▇▇▇
Via Fax: ▇▇▇ ▇▇ ▇▇▇▇▇▇▇ ▇▇▇
Attn: ▇▇▇▇▇ ▇▇▇▇▇▇▇
Chairman of the Board
Dear Cliff:
This letter is to inform you that, effective immediately, I am resigning from
the Board of Directors of ▇▇▇▇▇▇▇ Capital Corp.
It is unfortunate that I am compelled to do this, however, I have been
considering taking this action for some time. I had prepared my resignation
for tendering at the November 17, 2001 Board meeting but held off doing so as I
was impressed with the credentials of ▇▇. ▇▇▇▇▇▇▇▇ ▇▇ ▇▇▇▇ Retief. I saw Dr.
Retief as having the appropriate experience, credentials and mandate to provide
the long-needed CEO leadership to ▇▇▇▇▇▇▇ Capital Corp. However, the events of
the recent past which I believe should have involved the Board of Directors
have caused me to change my mind. My resignation is now being tendered as a
result of the more recent lack of involvement of the Board in material
fundamental matters which normally are handled by a board including the
December 19, 2000 appointment of a new officer in ▇▇▇▇▇▇▇ Capital (i.e.
Executive Vice President of Sales and Marketing), the approval of the
Showstar Capital transaction, the related press release from Showstar and the
lack of a press release from ▇▇▇▇▇▇▇ on this matter. These actions reflect a
lack of respect and/or understanding of governance issues related to public
companies.
It has become apparent to me that, in order for me to help create shareholder
value and protect Amerind Group minority shareholders, I must resign and become
a proactive shareholder. This I intend to do.
Cliff, it would be appreciated if you would inform the Board and management of
▇▇▇▇▇▇▇ and RedCell of my resignation and, if you see fit provide them with a
copy of my resignation.
Yours truly
/S/
▇▇▇▇ Lagadin
Cc: Amerind Group
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Telephone (▇▇▇) ▇▇▇-▇▇▇▇ Fax (▇▇▇) ▇▇▇-▇▇▇▇
