What the helll is Harry Barr doing?Less than two weeks after the announcement of another privare placement of $500,000 barely sufficient to pay his sinking ELN debts, Harry Barr is now announcing his intention to sell up to 7,500,000 common shares of El Nino Ventures Inc.
3,500,000 directly and 4,000,000 shares hold by Pacific NorthWest Captital (see below wwww.sedar.com extracts for details)
This is 84% of all ELN shares hold directly and indirectly by Harry Barr.
Why is he selling in such a hurry? What is he hiding again?
Harry Barr used $976,317 of shareholders money to buy shares of his sinking El Nino Ventures and he is now dumping these shares loosing between 85% and 95%.
Related party expenses for the last nine months ended 31 January were also showing questionnable expenses:
why did PFN spend $149,908 for Next Gen?
why did PFN spend $104,428 for El Nino?
why did PFN spend a total of $461,282 for related parties leaving the company without cash?
On top of these questionnable expenses, the amount due from related parties is = $203,641.
what are the chances to see the sinking El Nino pay $173,352?
why the hell did PFN advance $22,886 to a director of the company? (see page 43 of the FS)
TIME TO PREPARE TAR AND FEATHERS!
Selling security holder
Pacific North West Capital Corp.
Number and class of securities of the reporting issuer you beneficially own:
4,852,925 common shares
Number and class of securities you propose to sell:up to 4,000,000 common shares
Selling security holder
Harry Barr (Direct, RRSP and/or TFSA) and/or companies beneficially owned by Harry Barr:
Canadian Gravity Recovery Inc.
293020 BC Ltd
607767 BC Ltd.
Evolution Gold Resources Ltd.
Public Company Coach
Number and class of securities of the reporting issuer you beneficially own:
Approximately 9,008,554 common shares comprising of 4,155,629 common shares held directly
and indirectly by Mr. Barr and an additional 4,852,925 common shares held by Pacific North West Capital Corp. (“PFN”)
Number and class of securities you propose to sell: up to 3,500,000 common shares.