Mason Res Corp MSSNF

Brian Wesson stole money from WOF - screwed shareholders

[laurant]

Brian put his wife on the board along with one of his budies - now he effectivily has 3/5's of the board.  So basically he can do whatever he wants and what does he do?

Allocates MILIIONS of warrants in WOF to himself then gets the board to "loan" him the money to pay for these warrants.

HE IS USING SHAREHOLDER MONEY TO PAY FOR HIS PERSONAL WARRANTS !

Look as he tries to cover himself

On point B -  the Company has determined that distribution of an information circular to shareholders, preparation and distribution of a formal valuation and seeking of shareholder approval of the loan is not necessary - HOW CONVIENIENT !!!

And also -  the transaction being a loan for an amount representing 2% of the market capitalization of the Company -  2% OF THE MARKET CAP OF THE COMPANY     OMG !!!

SEE PRESS RELEASE BELOW

VANCOUVER, BRITISH COLUMBIA – December 12, 2011 – Woulfe Mining Corp. (TSX-V: WOF, OTCQX: WFEMF, Frankfurt: OZ4) (“Woulfe” or the “Company”) announces that it has approved the short term lending of $1,140,000 to a private company owned and controlled by two directors of the Company, being Brian and Amelia Wesson for the purposes of exercising warrants held in the Company due to expire on December 17, 2011. The loan is due for repayment in full not later than June 1, 2012 and is a secured with a promissory note and a general security agreement over the assets of the borrower and bears interest at prime plus 5% per annum, which terms the board of directors has concluded constitutes reasonable commercial terms that are not less advantageous to the Company if the loan were made to a person dealing at arm’s length with the Company.
As Brian Wesson is President, CEO and a director of the Company and Amelia Wesson is a director of the Company, the loan is a ‘related party transaction’ within the meaning of Multilateral Instrument 61-101 (incorporated by reference into TSX-V Policy 5.9). As a related party transaction, the following additional disclosures are provided (following the listing of disclosures in Section 5.2 of MI 61-101).
The review and approval process that has been adopted by the Directors for this transaction is as follows:
a) the independent members of the Board of Directors of the Company approved the borrowing of the funds;
b) the Company has determined that distribution of an information circular to shareholders, preparation and distribution of a formal valuation and seeking of shareholder approval of the loan is not necessary under MI 61-101 (including TSX-V policy 5.9 which incorporates such policy by reference) because:
i) the transaction being a simple loan transaction (with no securities being issued) does not fall within the types of transactions listed in paragraphs of (a) - (g) of the definition of related party transaction for which MI 61-101 would require a Formal Valuation;
ii) the transaction being a loan for an amount representing 2% of the market capitalization of the Company, the loan transaction falls with an exemption to the minority approval requirements described in section 5.7(1)(a) of MI 61-101;
iii) the disinterested directors of Woulfe (i.e. those other than the Wessons) have all approved the transactions;
On Behalf of the Board of Directors
Woulfe Mining Corp.
“Brian Wesson”
Brian Wesson
President, CEO and Director