Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Quote  |  Bullboard  |  News  |  Opinion  |  Profile  |  Peers  |  Filings  |  Financials  |  Options  |  Price History  |  Ratios  |  Ownership  |  Insiders  |  Valuation

Fuse Battery Metals Inc. V.FUSE

Alternate Symbol(s):  FUSED

Fuse Battery Metals Inc. is a Canadian based exploration company. The Company's focus is on exploration for high-value metals required for the manufacturing of batteries. It owns 100% of the Lithium Springs Property, which is located at the southern end of Black Rock Desert, Nevada. It also owns 100% of the Monitor Valley North Lithium Property, which includes 97 placer claims covering approximately 770 hectares (ha) of alluvial sediments and clays located 134 km northeast of Tonopah, Nevada. The property is located in Monitor Valley, Nevada. It owns a 100% interest in its Glencore Bucke Property, situated in Bucke Township, 6 km east-northeast of Cobalt, Ontario. The Company also owns a 100% interest, subject to a royalty, in the Teledyne Project located near Cobalt, Ontario. The associated Teledyne Property, located in Bucke and Lorrain Townships, consists of five mining claims totaling approximately 79.1 ha, and 46 unpatented mining claim cells totaling approximately 700 ha.


TSXV:FUSE - Post by User

Bullboard Posts
Post by williewoozleon May 15, 2018 12:18pm
135 Views
Post# 28033110

My written complaint - to submit end of day

My written complaint - to submit end of dayMay 15, 2018
 
Dear Authorities and Press:
I am a shareholder of LiCo Energy Metals Company (LiCo).  I am requesting that you investigate LiCo management with respect to INSIDER INFORMATION regarding a 60% option out deal with Surge Exploration Company and LiCo.  It is my understanding that on April 28, 2018, Tim Fernback, Director of Copper Gold Creek Corp(CGCC) announced that CGCC's name was changed to Surge Exploration. On May 8, 2018, Tim Fernback, who is also the CEO of LiCo and a Director at Surge, announced 60% options out deal with Surge Exploration. Simply put, Surge may earn an undivided 60% interest in the LiCo mineral rich Glencore Buck Property and the Teledyne Cobalt Property in Cobalt Ontario. The terms of the option are that Surge pays the company 240,000 dollars and 1,000,000 fully paid and non-assessable common shares in the capital of Surge upon TSX Venture Exchange approval. In addition, Surge shall incur an aggregate of 1,536,000 dollars in Exploration Expenditures on the property on or before two years of the date of the agreement.  The April 28th, 2018 the LiCo press release also mentioned the company had positive drilling programs on both properties and thereby did receive two unsolicited expressions of interests from companies which were at arm’s length. Furthermore, disinterested LiCo board members unanimously approved the LiCo-Surge transaction.  
Prior to this announcement, several of the management team cashed out their WCTXF stocks. What is even more compelling is I have been told that LiCo and Surge share the same office address in Vancouver, British Columbia? And, apparently both companies may share common staff and upper management members?
It is obvious that the LiCo/Surge deal severely violates TSX venture exchange policy of protection of Minority Security Holders in Special Transactions. Namely, there is a severe lack of disclosure to the shareholders. I and many others pose the following questions:
1)     Was LiCo introduced to Surge Exploration by Tim Fernback?
2)     Did Tim Fernback occupy a position of Director at Surge while at the same time being CEO of LiCo during this deal? Is this not a severe “Conflict of Interest” and fall under the realm of “Insider Information”?
3)     How does Tim Fernback and his common LiCo/Surge management team financially benefit from this transaction?
4)     What were the terms of the two unsolicited expressions of interests from the other two companies that expressed interested in these properties and why were they rejected?
5)     What were the financing options the management was looking at since the end of 2017?
I would like an investigation into this shady deal that does not protect my interests as a LiCo common shareholder. And, if this violates any Canadian laws, that this be reported to the authorities for appropriate prosecution. And if not, I would like an explanation as to why these happenings do not fall under the heading of “Insider Information”?
 
Thanking you in advance for your attentions and time,
 
    
 
 
 
 
 
 
 

Bullboard Posts