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Bullboard - Stock Discussion Forum Victoria Gold Corp VITFF

Metals & Mining Gold
Victoria Gold Corp. is a gold mining company. The Company’s flagship asset is its 100% owned Dublin Gulch property, which hosts the Eagle, Olive and Raven gold deposits along with numerous targets along the Potato Hills Trend including Nugget, Lynx and Rex Peso. Dublin Gulch is situated in the central Yukon, Canada, approximately 375 kilometers (km) north of the capital city of Whitehorse. The... see more

GREY:VITFF - Post Discussion

Victoria Gold Corp > Get a good lawyer
View:
Post by Oregonduck on Aug 16, 2024 2:12pm

Get a good lawyer

Former CEO John McConnell (JM) could get a fat severance. Technically and legally speaking, the Co has now been taken over by the territorial Yukon Govt. in a Change of Control. JM didn't resign on his own. Under such circumstances, 
JM shall be entitled to get $2,187,500 for termination without cause AND related to Change of Control of the Co. 
Also, key officers shall be entitled to get in aggregate up to $6,108,000. JM's was well-paid as his annual remuneration was over $2 million per year with incentive awards.
Comment by givemeabreak1 on Aug 16, 2024 2:41pm
No being forced into creditor protection is not a corporate take over.  The CEO simply becomes an unsecured creditor.  In fact, he may also be sued by just about anyone.
Victoria Gold Corp