RE:RE:RE:Have you ever seen that before?GreatfulDead wrote: DabbleSnacks wrote:
Is it possible that that their legal cousel for the ASC investigation told them to (with IIROC and/or the ASC's permission)? It makes perfect sense to me that press releases being investigated for flashoods would be pulled to protect new investors who may get confused. With webcrawlers and such, there's a risk that the junk news gets propagated even more widely if they are left online.
The subsequent releases that say: "Uh-oh, the ASC is really mad at us!" may be considered enough of an explanation.
I don't see it as a weasely or irrsesponsible thing. Leaving it up would probably do more harm than good.
A public company's disclosure is a permanent record. SEDAR is the formal repository for that record, which includes other filings apart from press releases. It doesn't matter what amendments or corrections are made after the fact, the original filing always remains part of the permanent record.
As it stands right now, if someone goes to SJL's website, they would not be able to obtain an accurate version of the company's public disclosure. This could prove to be inherently misleading, as certain information has been deleted.
I have never observed this sort of situation before, so I'm reacting based on my professional experiences and my knowledge of disclosure obligations for public companies. I do understand that there may be pragmatic reasons to modify the record of disclosure on the website, but I doubt that there are legal validations to do so.....without further disclosure to explain the discrepancy.
The "missing" press releases live on everywhere else on the internet. But you can't find them at their source.
GD
I have seen this before. They are vetting the NRs , that were false, misleading or a lie. They are doing so in response to the ASC investigation. Doing so beforehand would admit guilt. Being directed to remove them does not admit guilt but following guidance.
This is the point where the "creative writing skills of P O" come back to haunt him. Because now they start looking at things like "Mill" what did you mean by Mill? What did you mean by "starting to build" , where is the modular mill you started a year ago, did you tell any private placees their placements were going to be used to build the mill etc etc etc.
Why have you worded this NR so it appears you are using a Mill that people could confuse with the one you were supposedly building etc etc.
The proverbial hot seat begins.