7936567 Canada Inc SWYDF

Metals & Mining Industrial Metals & Minerals

Stornoway Diamond Corp is a leading Canadian diamond exploration and producing company. Its principal business is the development of its flagship asset, the fully-owned Renard Mine, located in Quebec, Canada. The company intends to grow its business through the exploration and development of its mines. Stornoway also holds interests in a portfolio of exploration assets across Canada through owned properties and joint ventures. These properties and joint ventures include projects such as Adamantin, Qilalugaq and Pikoo.

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7936567 Canada Inc > shareholders

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Comment by dalesio_98on Sep 09, 2019 7:26pm

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Post# 30110722

RE:shareholders

roberto10 wrote: This company is owned by the shareholders and the value is based on all shares outstanding. The new buyer has to buy up all the shares .The management do not own this company period. IF there is so many millions shares issued ,then the new buyer has to buy up all our shares inclueding shares owned by the QC PENSION FUNDS. . I neaver came accress something like this ,the the value of the company is base on shares outstanding .
Selling the company without the shareholders is an ilagal move .

Under creditor protection (CCAA, BIA) shareholders are the last in the heirarchy pyramid (bottom of the totem pole). Even though shareholders are stakeholders, in CCAA or BIA, they have little to zero (0) say in the matter.

Its all about secured creditors and creditors, no shareholder approval is required.

An unfortunate lesson if this is your first go around.

Good luck to all!

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