Fancamp Exploration Ltd V.FNC

RE:RE:RE:So when does an outside investigation begin and who does it?

[Maxmoe]

From august 2021, here is a copy of correspondence I received from bcsc about the last agm fiasco. You could try is route but my experience was there was 100X the effort to avoid any responsibility as there was effort to actually help oppressed shareholders any way whatsoever. Same person is likely available to feign interest in helping. They REALLY didn't like my persistence and suggestion that if they lacked jurisdiction in any way to fulfill their mandate, they need to change the regulations to gain the jurisdiction they require. Their mandate is to protect investors and foster fair efficient capital markets. Nowhere does the mandate specify the only relevant act is the bcsa nor does it preclude the bcca or creating new interpretation bulletins" like the osc does. There should have, could have, would have (if I were in charge) been a cease trade order in effect that precluded and/or reversed the massive share option exercise AND the champion share block trade between insiders. Sigh , so good luck. Pm me if you want even more info. 

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Further to our previous discussions, your concerns regarding the company’s failure to hold an AGM are not addressed by the Securities Act, which is the legislation that the BCSC enforces.  This matter relates to corporate governance, which, as you know, falls under the Business Corporations Act, and which also provides, under Part 5 – Management, Division 6 – Meetings of Shareholders, paragraph 185 Information for shareholders.  We also refer you to paragraph 186, Powers of the court, and, in particular, 186(1), which states:
 
The court may, on its own motion or on the application of the company, the application of a director or the application of a shareholder entitled to vote at the meeting,
(a)    Order that a meeting of shareholders be called, held and conducted in the manner the court considers appropriate, and
(b)   Give directions it considers necessary as to the call, holding and conduct of the meeting
 
For matters relating to the AGM, you, as a shareholder, can request this meeting to be held, or submit your complaint through the court.
 
Regarding the trading of stock, it would be helpful to know exactly what your concern is for this trade and any breach of the Securities Act you are alleging.  Fancamp filed a news release and early warning report on SEDAR regarding the purchase of shares by Mehra from Champion, so disclosure was made regarding this transaction.
 
As for a Management Cease Trade Order, these can only be issued by the BCSC under the Securities Act, and as failure to have an AGM is a civil matter, it is not under our jurisdiction, by law, to do so.


If you would like to discuss this again,  please give me a call.  I provided you with all my contact information previously, but am providing it again for your reference.
 
Karen
 

 

	Karen Hefferland Inquiries Officer British Columbia Securities Commission PO Box 10142, Pacific Centre 1200 - 701 West Georgia Street Vancouver, BC V7Y 1L2	Tel: [phone] (Direct) Tel: [phone] (Inquiries) Fax: [phone] www.bcsc.bc.ca Email: [e-mail] Find us on: Twitter | Facebook | YouTube
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