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by Mike Caswell

Open EC Technologies Inc. is facing a $75,472 lawsuit in the Supreme Court of British Columbia from McKenzie LK Management & Consulting Ltd., the finder on the company's deal to acquire i-Plexus Solutions Inc. in 2010. The suit seeks full payment of a $115,472 invoice that McKenzie sent in April, 2011, for which it has only received a $40,000 payment.

The allegations are contained a brief notice of claim that McKenzie filed on Feb. 2, 2012, at the Vancouver courthouse. The suit claims that McKenzie, a private Vancouver-based company, entered an agreement with Open EC on Oct. 26, 2009, in which it would introduce Open EC to proposed merger or acquisition partners. Its fee would be 10 per cent of the first $300,000 of any transaction, with percentages of 7.5 per cent to 2.5 per cent applying to higher amounts. (The suit does not specify the transaction on which McKenzie advised Open EC, but a material change report filed on Oct. 13, 2010, states that McKenzie was a finder on Open EC's $1.4-million agreement to acquire i-Plexus.)

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