Note to AMF on the fabrication of the illegal HARDSHIP APPLINote to AMF on the fabrication of the illegal HARDSHIP APPLICATIONto TSX made by Prometic Life Sciences (PLI: TSX)
I write this short note to focus sharply on the main points of why the Prometic Life Sciences (PLI: TSX) Hardship application must be reversed and why it is clear that it was presented on false information. All other issues of which there are very many that constitute this major fraud on PLI investors will be discussed in other notes or have already been. All else follows from this main and key point – NO HARDSHIP TRULY EXISTED – IT WAS FABRICATED thus SHAREHOLDERS VOTE WAS REQUIRED thus ILLEGAL SALP RESTRUCTURE MUST BE REVERSED!
The Hardship Application allows the officers of the company in extremely urgent situations where there is no time available to set up a vote by shareholders because there is not enough cash available to operate the company until the vote by shareholders can be had. It is 100% clear that this was not the case with Prometic Life Sciences (PLI: TSX) and that the Hardship Application falsely and fraudulently misrepresented the facts and claimed urgency and hardship WHERE IN FACT NON EXISTED. In fact the situation was totally manufactured by officers of PLI for the express purpose of depriving the shareholders of their right o vote and fair valuation upon an intended change of control so that SALP could defraud the shareholders and take over the very valuable assets of PLI for themselves WITHOUT A VOTE.
- There was no need whatsoever to wait a long time for a vote to happen! The “Annual and Special Meeting of Shareholders” happens EVERY YEAR on May 9-11. The notice of the restructure was April 15 and the TSX decision was on April 23 yet as in past years the vote on the most important event in PLI history could have been scheduled for May 9 or a few days earlier without any dire consequences to PLI for these perhaps 15 days or so it would take, had they planned for the regular timing of the Annual Shareholders Meeting, INSTEAD, SALP INFLUENCED THE PLI OFFICERS WHO IN BAD FAITH ABANDONRD THEIR FIDUCIARY DUTIES TO THE SHAREHOLDERS AND POSTPONED THIS IMPORTANT MEETING TO JUNE 19, 2019 WITH THE EXPRESS PURPOSE OF AVOIDING AND ILLEGALLY BYPASSING THE SHAREHOLDER’S VOTE!
- Copied below are the notices and links for the past three years (2016, 2017 and 2018) showing the meetings were ALL ON May 9, 10 or 11 for those years WHEREAS THE MEETING FOR 2019 WAS PURPOSFULLY DELAYED UNTIL JUNE 19, 2019.
- The short delay from April 23 to say May 9 (or earlier) would not have posed a financial hardship or emergency, as for such a short period of time, PLI could have tapped the already available ATM (At The Market) facility in place for up to $50 Million dollars most of which was still available among other fund sources to carry PLI for these very few short weeks. But SALP CHOSE NOT TO DO SO, as then the shareholders would have the opportunity to vote which SALP HAD TO AVOID AT ALL COSTS OR THEIR RESTRUCTURE (TAKE OVER) WOULD FAIL!
- Finally, the success of the illegal and false hardship application enabled the setting of the ridiculous and unjust terms of the restructure such as the egregiously low 1.521 cent debt to equity conversion with the issuance of some 15 Billion shares to SALP thus effectively stealing PLI from its shareholders using a paid for “Fairness Opinion” from Echelon.
- Notwithstanding the above, PLI officers in BAD FAITH and in contravention to their fiduciary duties to the shareholders proceeded to postpone the 2019 Annual and Special Meeting of Shareholders to June 19, 2019 from its regular early May time frame in all past years and filed the hardship application to the TSX where there was none as shown above! They acted under the influence of SALP to protect their own jobs, perks, bonuses and other interests that would come their way by colluding with SALP against the interests of the shareholders.
2018 Notice is hereby given that the Annual and Special Meeting of Shareholders (the "Meeting") of Prometic Life Sciences Inc. (the "Corporation" or "Prometic") will be held on
Wednesday, May 9, 2018 at 10:30 a.m. (Montreal time) at the Fairmont The Queen Elizabeth, Room Agora, 900 Rene Levesque Blvd. W., Montreal, Qubec, Canada
https://resources.prometic.com/financial-reports-2017/notice-of-2018-annual-and-special-meeting-of-shareholders-and-notice-of-availability-of-meeting-materials 2017 NOTICE IS HEREBY GIVEN THAT the Annual and Special Meeting of Shareholders (the "Meeting") of Prometic Life Sciences Inc. (the "Corporation" or "Prometic") will be held on
Wednesday, May 10, 2017 at 10:30 a.m. (Montreal time) at the Centre Mont-Royal, 2200, rue Mansfield, Montreal, Quebec, Canada for the following purposes:
https://www.otcmarkets.com/ajax/showFinancialReportById.pdf?id=168595 2016 Notice is hereby given that the Annual and Special Meeting of Shareholders (the "Meeting") of Prometic Life Sciences Inc. (the "Corporation" or "ProMetic") will be held on
Wednesday, May 11, 2016 at 10:30 a.m. (Montreal time) at the Auditorium of the Montreal Museum of Fine Arts, 1379 Sherbrooke Street West, Montreal, Qubec, Canada
https://resources.prometic.com/financial-reports-2016/management-circular-2016 2019 Notice for 2019, annual meeting to take place on
Wednesday, June 19, 2019 at 10:30 AM.
https://resources.prometic.com/i/1077774-notice-of-meeting/0? ---------------------------------------------------------------------
Sincerely,