RE:RE:In the newshalcro wrote: ""all the ongoing legal fees related to BCSC claims against the former CEO."
Wonder if BGM will pick up settlement costs and administrative penalties, should any be levied by the BCSC?
Also, will the other then-directors of BCSC also have similar indemnity agreements should the BCSC also go after all of the then directors?
In 2012, Bralorne, IMO, made a very slight mistake in releasing a news release (company immediately withdrew the release, the Sedi contractor didn't realize the mistake and filed the offending report on Sedi and it wasn't pulled for a few days).
In 2013, two Bralorne directors settled with the BCSC for a not-so-minor $20,000 each, and the legal fees would likely have been $50,000 or so.
IMO, based upon the uproar created by the release of the now-retracted, greatly reduced June 28, 2012, flight of fancy, the legal fees, settlements and administrative costs could go into the hundreds of thousands of dollars should the BCSC cast a pretty wide net.
And, IMO, with BGM footing the legal fees, there'd likely be no incentive to roll over, as the legal costs won't be costing the subject(s) of the BCSC investigation one cent.
Wonder if this might be related to the paper-for-debt agreement announced on the BCSC website on June 30, 2015...422,148 BGM shares at 28 cents per share to McMillan LLP?
Starr Peak appoints Kennedy CEO, director
2015-07-28 19:49 ET - News Release
Starr Peak Exploration Ltd. (formerly Lions Gate Energy Inc.) has released the results of its annual general meeting of shareholders, held on July 24, 2015. The company reports that J. Frank Callaghan did not stand for re-election at the meeting.