Alpha Minerals Inc ESOFD

Wrongful Interference

[battleready]

I wonder if the counterclaim refers to the following. Below is a small part of a press release from Lakeland Resources  2013/06/05

"Termination of non-binding letter of intent with 877384 Alberta Ltd.

Lakeland also announces that the company is not proceeding with the letter of intent dated Feb. 26, 2013, and announced on March 1, 2013, with 877384 Alberta for the exclusive rights to acquire eight uranium properties located within the Athabasca basin. Management had reached a consensus with respect to the terms of a definitive agreement, but was not able to accept the risk associated with a third party claim against the properties."

877384 is being sued FCU. I would like to hear AMW's comments before I vote.

[letsgetready]

This lawsuit is not a material/significant issue. Not worth losing sleep over

[losecash]

It has no effect if you hold amw pre merger. If you own fcu then you inherit the baggage. Whether its a purse or a suitcase remains to be seen.

[bridgetonowhere]

Evidently, 877384 (Dahrouge) was attempting to sell the 8 uranium properties in question to Lakeland but the deal fell through because Lakeland wasn't convinced that Dahrouge had an iron-clad claim to the properties.  Fission is obviously the third party in their  press bulletin as Dahrouge's counterclaim seeks, among other things, to have the court award title of the properties

[battleready]

"but the deal fell through because Lakeland wasn't convinced that Dahrouge had an iron-clad claim to the properties." You don't know that!  No junior wants to enter into a option deal on any property that has a third party lawsuit/claim, even if it a slam dunk. I believe the Lakeland's Board decided not to expend its limited treasury on a potential

[bridgetonowhere]

@battleready - You don't know that Lakeland has a limited treasury!  That's only your opinion!  The news release you posted says nothing about Lakeland having a limited treasury.  What it does say is "Management had reached a consensus with respect to the terms of a definitive agreement, but was not able to accept the risk associated with a third party claim against the

[losecash]

The way I read it fission spinco incurs all liability with regards to that situation. It should have zero effect on amw shareholders.

[wintersun10]

  Fission says Dahrouge fraudulently acquired permits 2013-08-01 13:38 ET - Street Wire   by Mike Caswell Fission Uranium Corp. has filed a lawsuit in the Supreme Court of British Columbia against its former president and director, Jody Dahrouge, claiming he fraudulently acquired a number of exploration permits the company once held. According to the suit, Mr. Dahrouge

[battleready]

"The counterclaim includes allegations of breaches of British Columbia securities laws, slander, wrongful interference, improper assignment and improper variation of obligations. The relief being sought in the counterclaim includes unspecified losses and damages, declarations of ownership in relation to certain mineral permits and claims, declarations concerning the enforceability of certain

[bridgetonowhere]

@battleready - So all that means is that if Dahrouge's counterclaim is successful, he will get undisputed title to the 8 claims and he would very likely be reimbursed for the cost of defending himself against Fission's initial claim against him.  If Dahrouge were to win that's all he would be entitled too and that's all that the counterclaim seeks according to what you posted.

[losecash]

It potentially at worst would demolish fission 3.0 thats all. No claims against pls property or amw spinco.

[bridgetonowhere]

@losecash - There's more upside than downside for Fission 3.0 from the claim and counterclaim.  The 8 properties in question currently are not part of Fission's portfolio of properties.  So if they win their claim, they'd have the opportunity to reacquire them.  If they lose, Dahrouge keeps the properties and gets his legal fees reimbursed.

[losecash]

I actually like amws properties a little bit more for the spinco. But to each their own.

[bridgetonowhere]

@losecash - I cann't comment on the quality of the 8 properties but Fission must obviously think there is some value to them, and Lakeland would not have been willing to buy them if they were worthless.  As a former persident and director at Fission, Dahrouge must have seen value in them as well or he wouldn't have claimed them.  There's probably some preliminary work that

[battleready]

Bridge2nowhere, did you read the counterclaim? There is more to it than you think. I will get my broker to call Alpha's management to discuss as he was the one who told me to buy this stock. I wasn't aware of the counterclaim until yesterday. I didn't read the entire info circular. Nobody does. AMW's management only posted that the counterclaim has been filed

[bridgetonowhere]

@battleready - I haven't read the counterclaim per se, but I've read the abridged version from page E37 of Alpha's information circular.  According to it, Dahrouge is seeking unspecified losses and damages which means that if his countersuit is successful, he could petition the Court to have his legal fees and perhaps the cost of the failed sale of the poperty claims reimbursed by

[battleready]

"educating you is not AMW's responsibility", it is AMW's responsibility to give the shareholder all the details. AMW has the right to review all the infomation regarding this lawsuit and allow the shareholder to determine if we should vote YES or NO.  A small paragraph in a 402 page document is not enough.  

[quakes99]

This post has been removed in accordance with Community Policy

[bridgetonowhere]

@battleready - You're probably the only shareholder with a 402 page document.  The information circular that I received is 106 pages plus the appendices.  But regardless of the special treatment you apparently have received., AMW has provided you with notice in the information circular and by a seperate news release.  If you don't understand the nature of the claim and

[battleready]

106 pages + appendices = 402 pages. Here is the link: https://www.sedar.com/CheckCode.do;jsessionid=0000FYO1LtH7CuYoEu42Ir2P61a:17lkkk26t I wonder who is paying you?

[bridgetonowhere]

@battleready - You're just going to have to face the fact that AMW has given you as much information as they have and you won't be getting more.  I guess you're screwed.  Too bad.  Good-bye.

[Tarquin4]

Isn't it true that if one Provincial securities commission issues a ruling then the other Provincial securities commissions sometimes get involved too?  I think this opens up a whole can of worms

[battleready]

If the lawsuit goes the other way in favour of Dahrouge and Fission Spinco can not completely indemnify FCU, then FCU will be responsible. You just can't transfer a lawsuit. It's not that easy. So it could have effect on the AMW shareholders. I am voting NO.