Post by
Oregonduck on Feb 02, 2023 7:16pm
Charity Shares Lack Transparency
We know Cantex closed a private placement of flow through (FT) and non-FT in 2019 with Canaccord raising $12 million plus $2 million upsize. Out of that, $6 million were designated FT charity shares.
Charity shares received by the donors were immediately flipped to the designated charities. The charities would right away sell the shares at the open market and/or to third parties.
It seems Chuck directed the donee WildAid Canada to pay the slate of candidates for the Kelowna campaign with proceeds from the sale of donated Cantex shares in contravention of CRA and provincial and federal election laws. Expect CRA will disallow the non-bona fide tax writeoffs and demand repayment plus penalties from the donor.
WildAid Canada's corporate office shares the same address as Cantex with Chuck Fipke, Bo Derek, Bob Cudney and others acting as WildAid directors.
Comment by
MassiveisKing on Feb 05, 2023 9:32am
16 cents is the new 7 dollars.