Will be interesting to see what the final out come is. Notice how slow the system was to respond; was the OSC building a good case for over three years and following were the money was sent or just giving them time to move their proceeds of crime off shore?
YS Capital on Behalf of LTP Stakeholder Files Complaint Against First Global Data with Securities Regulatory Authorities
Toronto, Ontario--(Newsfile Corp. - February 18, 2016) - Further to our December 2, 2015 and January 21, 2016 press releases, the LTP Stakeholder Group, led by YS Capital Inc., continues to pursue action against First Global Data Limited (TSX Venture: FGD), ("FGD").
The LTP Stakeholder Group has filed a letter with the Ontario Securities Commission (the "OSC") and the TSX Venture Exchange, (the "Exchange") asking the securities regulatory authorities to investigate FGD's public disclosure record and its relationship with Global Bioenergy SAS, ("Global Bioenergy"), a private mining company with operations in Colombia.
We are concerned with FGD's repeated failure to disclose material information in a timely manner and with the nature and disclosure of the relationship between FGD and Global Bioenergy and have urged the OSC and the Exchange to review the actions of both parties.
The LTP Stakeholder Group continues to assess additional remedies that might be available and intends to vigorously pursue this matter. The LTP Stakeholder Group will issue further updates as this matter progresses.
Neither the TSX Venture nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-looking Statements
Certain statements contained in this news release may constitute forward-looking information, within the meaning of Canadian securities laws. Forward-looking information may relate to this news release and other matters identified in this news release. Forward-looking information and anticipated events or results and can be identified by terminology such as "may", "will", "could", "should", "expect", "plan", "anticipate", "believe", "intend", "estimate", "projects", "predict", "potential", "continue" or other similar expressions concerning matters that are not historical facts. Such forward-looking statements are based on assumptions and uncertainties. While we consider these assumptions to be reasonable based on information currently available to us, they may prove to be incorrect. Actual results may vary from such forward-looking information for a variety of reasons.
On behalf of the Stakeholder Group:
YS Capital Inc.
Brian Murphy, Legal Counsel
(905) 673-5187
https://www.newsfilecorp.com/release/19300/YS-Capital-on-Behalf-of-LTP-Stakeholder-Files-Complaint-Against-First-Global-Data-with-Securities-Regulatory-Authorities