RE:RE:RLG merging with shell company????????????????????????????Good luck with that......I've contacted Kontak recently (before the news) and now this week. In the first message he misled me about the company's plans --completely leaving out anything about diluting the stock or consolidating the stock -- EVEN THOUGH HE WAS OBVIOUSLY WORKING ON EXACTLY THAT. I'd be happy to post that communication from him, he obviously intended to mislead me about the company's immediate plans. I woulda sold my position back then if he had not misled me
....And the message I exchanged with him this week in wake of the recent devastating news....all he sent back was a form letter stating the same inadequate points that were already in the press release. In his pre-canned response he did not offer any explanation or rationale or even what the plan is going forward beyond saying that the new entity will bring new 'technical expertise', which is kinda funny statement because we thought Kontak was the expert.....the new entity has no existing projects and no background in mining even.......it's a shell company.....but we're supposed to be "pleased" that they are taking 55% of the company for nothing in return. He also included a new item, suggesting that the shell company is an entity "controlled by" Frank Giustra, but this is just new disinformation...I already looked up who owns the shell company and Giustra and he owns less than 10% of it and that's prior to the merge, his position will be more than halved post-merge. Kontak is trying to imply that Giustra's small position in the shell company is somehow a rationale for why RLG should self destruct itself and let the shell company take over. We're already being duped by the new entity, ...oh it's 'controlled by frank Giustra' ....ummm, look it up, no it isn't and even if it were why would you hand the company and the 5 million new raised money over to him with nothing in return? ha....i'm sure Kontak has been promised something but you and I sure dont get anything ....we're just the shareholders. (you ever look up Kontak's share holdings in RLG? lol, yeah wherever he puts his money it ain't in RLG stock)
Let's face it folks, Kontak and the rest of the RLG crew have bent us over the table. Theyre purposely diluting us (yet again) to pocket 5 million new bucks ..then handing it over to the shell company and consolidating our existing shares into oblivion. Thanks for comin out...
And since you mention Kontak, isn't it interesting that he hasn't mentiioned any of this stuff in the company's investor kit or on the company website or in the most recent quarterly meeting........nada, zip, zilch. You know it was already in the pipeline but he has ommitted any mention of it prior, now springs it on us and keeps the stock halted so you cant react to the news while he tries to jam it through before end-of-month... We've been played folks
My interpretation.....Kontak and the rest of the crew have been "pretending" to work on the project for years, (who takes three years to drill two holes? who takes five years to take "trenching samples" lol). And raising millions each year in new dilutions, ask yourself what the millions were used on cuz it ain't drilling or any other progress, it just disappears....... And now, with still zero forward movement, and no drilling, no trench samples (STILL!!!) ...'oh we're delisting the stock and handing over the project to a shell company that has no going concerns and no projects on the go......and oh, we're gonna consolidate the existing share structure massively & change the name of the company also so we can start all over again fleecing new investors.
This stock is a big ponzi scheme. Check back in five years, they'll still be raising millions for "trenching samples" ...that somehow still wont be completed... and still be drilling one hole per year (don't want to overdo it!!) 'Ummmm, yeah...ummm ....we need to umm, .....build out the resource ...umm ....so we can umm show theres two million ounces there ....ummm, so we can ummm maybe interest a major in our project ...ummm, we just need another $5 million a year every year so we can ummm get those trenching samples ummm, cuz thats how we get to two million ounces ...umm, trust us, we're the guys who used to run a company called West Red Lake Gold so we know what we're doing, we're miners... lol
RLG management supposedly has "feduciary duty" to existing shareholders....yeah right ....good luck with that. whatever game theyre playing with this shell company it ain't got nothing to do with existing shareholders benefiting ...
we been played
anyway, i lodged a complaint today with IROC, why is the stock still halted 8 days after the news...theyre trying to run-out-the-clock so the company can be delisted before you get any chance to get out of it ..........and I'm waiting for TMX to call me back i'm going to assert that RLG management has been purposely misleading it's stakeholders. i hold out ZERO HOPE that either one of those entities will do squat about this fiasco. ...
what a mistake ever putting dollars into this "project"
big middle finger to the RLG shareholders, that's what I see. but yeah, kontak, he'll save us. he's got our best interests forefront in his mind i'm sure. thats why hes giving our investment to a numbered shell company