Petromin Resources Ltd. V.PTR.H

RE:RE:RE:RE:Yikes!!!

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Petromin faces petition against Gorrell, itself

 

2017-10-27 01:38 ET - News Release

 

Mr. Tyrone Daum reports

A petition to the court was filed on Oct. 3, 2017, in the Supreme Court of British Columbia and was served on Dr. Arthur Ross Gorrell and Petromin Resources Ltd. on Oct. 17, 2017.

The petition seeks remedies of oppression against Mr. Gorrell and Petromin for an affidavit that Mr. Gorrell swore in the Supreme Court of British Columbia.

The petition alleges:

• Mr. Gorrell claimed under oath the affidavit was authorized by Petromin.
• Mr. Gorrell breached Section 168.1 (1) of the Securities Act (RSBC 1996), Chapter 418, by swearing false and misleading information, that being, "Mega was not related or affiliated, directly or indirectly, to either Petromin or TerraWest" this in a manner oppressive to, and unfairly prejudice to, one or more of the shareholders, including the applicant (Mr. Daum). The petition alleges that Kwok Kwong Lau, the sole director of Mega, is also known as Jimmy K.K. Lau, who was a director of Petromin at all material times.

The petition further seeks:

• The audited financial statements and Form 51-102 F1 management's discussion and analysis for the fiscal year ended Sept. 30, 2016, be set aside for containing errors and misrepresentations with respect to International King Jack Hydrocarbons Inc. and Far East Oil & Gas Ltd., which in the petition are alleged as being non-existent fictitious companies;
• Form 51-102 F1 for failing to comply with Section 1.9 of the form with respect to transactions between related parties for notes 9, 12 and 13;
• The removal of Mr. Gorrell as a director of Petromin;
• The appointment of Mr. Daum as a director of Petromin;
• Damages.

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