Re: United EffortHere is what you will get from the Canadian Authorities. Basically your do nothing, blah blah blah - you go do it yourself sort of stuff. My contention is simple: ANYONE with an IQ of a Carrot can see through what is going on at HRG, and for a good while. Nothing has been done by Canadian authorities, I am aware of.
I suggest ALL of you, take the little time required and send complaints to the party below, outlining how you see this situation. It takes no more time than posting right here. Further, cc a copy with your concerns about the lack of concrete action to your local elected representative, and send to the Prime Minister as well.
I think is basically fits and is very similar to the Income Tax catch all act. Which in so many words says this: If you create a scenario, baring anything else, which seeks to evade payment of tax you pay. How about: if you f'ck Canadian shareholders around, with the intent of robbing from them THEIR ASSETS you will be taken to task. Oh I forgot: this is Canada, and it seems to be OK to do that, but pay your taxes for sure, and do not try and get around that!!!
Here is a reply from my latest complaint: a series which goes back over a year now - how does it read to you folks????
Dear Mr. xxxxxxxxxxxx:
We acknowledge receipt of your May 29,2009 e-mail to the Ontario Securities Commission (OSC) concerning HighRiver Gold Mines Ltd (High River).
The Investment Industry Regulatory Organizationof Canada (IIROC) and the OSC work together to regulate Ontario's capitalmarkets. IIROC has responsibility for monitoring market activityand your previous concerns alleging market manipulation were appropriatelydirected to IIROC for review.
Your most recent submission has beenforwarded to the Corporate Finance branch of the OSC for further review.Our reviews of complaints, such as yours, focus on whether the companyhas complied with securities laws that apply to it. If we requireadditional information, we will contact you. Please note however,that OSC staff do not comment on reviews or investigations and so you mayhear nothing further.
Your concerns appear to be centred onactions of the company that you feel are abusive to minority shareholders.Management and the board of directors do have obligations to actin the best interests of the corporation and its stakeholders. Theseobligations arise principally from corporate law (such as the CanadaBusiness Corporations Act), not securities law. Therefore, theyare not enforced by regulators such as the OSC. Specific remediesmay be available to shareholders for breaches of corporate law, and theseprovisions are generally enforced by the affected parties. SinceOSC staff may not provide legal opinions or advice, if you wish to pursuethese concerns, we suggest you consult with your own legal counsel withcorporate and Ontario securities law expertise, for advice about remediesthat may be available in legal proceedings.
Sincerely,
Jeff Fennell
Senior Inquiries Officer
Ontario Securities Commission
inquiries@osc.gov.on.ca
416-593-8314 or toll free at 1-877-785-1555
One might well ask: what do these people do. No matter what the complaint it seems to me, they differ to another or step around ANY reponsibility. They do nothing, I can see. You seriously wonder, just what would a BOD, management or control groups have to do for them to actually DO SOMETHING,other than push paper around. IT IS A JOKE>IMO