Letter sent to Guy Ouellette - with thanks and urging more To the Honorable Guy Ouellette,
Thank you very much for your probing questions yesterday probing the travesty happening to Prometic Life Science investors. This must be thoroughly investigated by the AMF and returned to its rightful owners the shareholders. This was stolen from them without vote or valuation required by law upon any change of control of a public corporation. This was fraudulently denied the investors via a inappropriate and misuse of this regulation and fully planned for by SALP in there greedy drive to acquire this company for themselves. A hardship DID NOT EXIST as is shown by the existence of other source of funding they ignored, the carefully and narrowly tailored attempt to raise funds they knew would fail, but not those that they feared might actually succeed but would wrest control of this valuable company from their greedy hands such as us of the ATM facility, acceptance of the some $50 Million dollars offered as funding from a group of investors, such as the sale of CORE ASSETS, such as the PPPS blood fractionation and purification system, or the whole division of Protein therapeutics with the lead product RyplazimTM (Plasminogen) nearing FDA approval for its first valuable and blockbuster blood protein, Plasminogen and its valuable FDA pediatric voucher designation worth some $150 Million US when approved, or the ENTIRE small molecule therapeutic division based on the antifibrotic family of drugs based on PBI4050 to treat ALL the major organs (heat, lung, liver and kidneys) suffering from fibrotic disease (at the heart of most major organ disease today and the holy grail of treatment today) which is again a blockbuster (multi billion dollar) application. In 2014 Roche paid over $8.3 Billion US for Intermune for a single drug to treat the single application of IPF in lungs. It has since been shown that PBI4050 is far more promising than that drug! In short their is GREAT underlying value in PLI that SALP and the Thomson interests wish to steal from the investors and have connived and colluded with the board and management using their great wealth and influence to gain their cooperation with the promise of continued cushy jobs and other perks of doing the SALP bidding to gain control WITHOUT A VOTE OR VALUATION for the shareholders.
I and others can send you much information backing up these claims. Please continue your insightful questions to keep the spotlight on this gross travesty foisted upon plain shareholders many of whom trusted the management and will lose their LIFE SAVINGS to the GREED and FRAUD of the wealthy and powerful.
It is if the utmost importance that the AMF must in the meantime, until they issue their decision after their THOROUGH INVESTIGATION is complete, ISSUE A FREEZE ON ALL TRANSACTIONS OF PROMETIC AND POSTPONE ANY ACTION TO FURTHER SALP OWNERSHIP AND PROHIBIT THE RIGHTS OFFERING FROM GOING FORWARD UNTIL AFTER THE ANF HAS ISSUED ITS OPINION. IT WOULD BE BETTER YET IF THE AMF TEMPORARILY REVERSED IMMEDIATELY THE TSX DECISION TO ALLOW THE HARDSHIP APPLICATION AND ANNUL THE SOME 20 BILLION SHARES ISSUED TO SALP AS A RESULT OF THE ILLEGAL “RESTRUCTURE.” AFTER THE AMF DECISION THE AMF CAN THEN ALLOW IT TO GO FORWARD IF THAT WAS THEIR DECISION WHICH I AM CERTAIN CAN NOT HAPPEN UPON FULL REVIEW.
The most likely and best out come would be to place Prometic under the watchful eye of a fair and neutral JUDGE under the reorganization laws of Canada that will not permit SALP and the Thomson interests to unjustly and fraudulently dictate the terms of their own take over and steal the corporation in broad public view while the government and regulators pacifly look on but do nothing. He will insure to unlock as much of the huge underlying asset value for the share holders and not the greedy Thomson interests who only own some 3.26% of the company. Even the debt they claim includes some $130M of unearned and fictitious interest from 2019 to 2024 they connived with management to add to the debt in the “restructure.” There was ONLY some $120 million of ACTUAL debt. No Judge would allow this to happen. Nor would any fair judge allow the WOLF (SALP) to themselves set the PRICE of the restructure at 1.5 CENTS some 91% below even the extremely low and artificially depressed (By interests selling to bring it down for these Interests). WHO IS LOOKING OUT FOR THE SHAAREHOLDERS INTERESTS AND INSURING FAIRNESS? A BOUGHT AND PAID FOR BOARD AND MANAGEMENT?? THEY WERE MORE INTERESTED IN KEEPING THEIR CUSHY JOBS AND PERKS UNDER SALP, THAN IN FOLLOWING THE DICTATES OF THEIR FIDUCIARY DUTY TO THE SHAREHOLDERS!!!
Thank you again for your great help in this matter. PLEASE CONTINUE TO ASK QUESTIONS RVRYDAY TO CONTINUE TO SHED LIGHT ON THE MATTER AND LET THE AMF KNOW THAT EVERYONE IS WATCHING HOW THOROUGHLY THEY INVESTIGATE THIS MATTER.
Sincerely,
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PLI long time investor