RE:Simply Wall Street ArticleRE: Legal action
Soulfire, you present an interesting question. Management claims that the transactions transferring working interest are exempt from MI 61-101 because "the issuer is not listed on specified market".
Interestingly, TSX.V Policy 5.9 states "This Policy (MI 61-101) applies to all Issuers listed on the Exchange or Companies seeking listing on the Exchange".
Could a formal objection from minority shareholders sway the exchange? This may be a question worthy of presenting to qualified counsel.
The transfers of WI have resulted in a meaningful increase of the majority shareholder's ownership of the Corentyne, while reducing the minority shareholder's ownership by more than half.