Fancamp Exploration Ltd V.FNC

Shareholders are being held Up

[Aallyy]

By the total incompetence of management, we, the shareholders, are subject to endless and infuriating delays. 


They can't get their act together and need to resign.

[Aallyy]

And, what about the AGM??? Given where the company is at, apart from filling out regulatory report forms and collecting huge salaries for it, how about the rules about having an AGM within one calendar year of its previous meeting!!  Last year was Oct 31st, there must be some mechanism to ouster them for non performance, complete ineptitude or worse? Is it possible the "passing of the

[StockscoutX]

I think FNC is working towards getting bought off because they are at an impass with the 22M Fancamp shares. Most likely, legally they can't undo what they did. The directors knows it and the shareholders are kept in the dark about it. At this point in time, it looks very bleak for shareholders. imo.

[Aallyy]

StockscoutX,  good point but fortunately we are a public company and would have a say,at least.  I think it is looking bleak for current management.  Let's hope they haven't blown the Champion shares, what's left of them but maybe they have, given the sell-off of CACR. Probably a smoke and mirrors move.

[Maxmoe]

I'm not suggesting this is what fnc mgmt, directors, and "consultants" are up to. But theoretically, the signs to look for with nefarious plundering of corporate assets and the treasury are of 3 types. This is the result of the inconvenience and cost of only holding a minority interest and not just taking fnc private. Rather than share proportionately, in theory, there are other

[StockscoutX]

Maxmoe, don't give them ideas of what they haven't thought of yet. Maybe, what's written in this board could give them what they need to move forward at the expense of shareholders. Just saying.

[Aallyy]

No question they will use every opportunity to stall, defer, deflect. I think when the time is right we need to demand an AGM be announced. There are always legal avenues to pursue as well, if it gets to that point. 

[Maxmoe]

These aren't my ideas. These are my observation of what has already happened. And no doubt in my mind there are more actions I'm not aware of,  that have, and will continue to, negatively affect shareholders. 

[Aallyy]

It is maddening to see how they have destroyed  opportunities for a huge score for shareholders. They have shown cowardice and weakness at every turn, spent unnecessary time and effort trying to destroy the reputation of the co-founder of the company and operator who was a continual force for good for over 30 years. The  words and dollars  expended on that witch hunt are

[Maxmoe]

Yup

[Maxmoe]

"Regulators, are you paying attention?" sadly the answer is no , or yes, but we won't do anything.  the regulators I've contacted, namely the bcsc,iiroc,tsx have shown zero interest iiroc, excusably, reminded me it's outside their jurisdiction. I suggested they change the boundaries to make it part of their jurisdiction just as they did with short trading. 

[Aallyy]

Good information Maxmoe, the B.C. Corporations Act must have a clause somewhere  stipulating management MUST call an AGM in this type of circumstance. So frustrating that we are being held hostage to unknown actions. When does the auditor issue a statement?

[Maxmoe]

There isn't a person or department to contact re the bc corp act, as far as I know. Let me know if anyone has a point of contact. I was told by bcsc that the procedure would require a court filing , 99% sure that means a local lawyer, to file a complaint against fnc. By the time it gets to somebody's inbox, months will have passed, so it's pointless. The company and its lawyers are