This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.

Here is a sample of this item:

by Mike Caswell

Eilat Exploration Ltd., a private entity facing a lawsuit in the Supreme Court of British Columbia from Skeena Resources Ltd., has responded to the suit by denying any wrongdoing and making several accusations against Skeena's chief executive officer, Walter Coles Jr. Eilat claims Mr. Coles confessed that management had manipulated Skeena's price ahead of its transaction with Eilat. It also complains about threatening and intimidating communications from Skeena.

NICKEL NORTH

Walter Coles Jr.

The statements by Eilat come in response to a lawsuit that Skeena filed at the Vancouver courthouse on Feb. 17, 2015. The suit appeared to be somewhat mundane, stemming from a share transaction Eilat made with a European bank. Skeena said that Eilat, which received 64 million of the company's shares in a property deal, had violated the terms of an agreement that restricted the stock. The agreement essentially required that Skeena's chairman, Ron Netolitzky, hold the stock and vote it on behalf of Eilat for a period of time. In violation of that agreement, Eilat pledged 6.4 million shares to a European bank, Skeena claimed. The lawsuit sought an injunction that would require Eilat to deliver the shares to Mr. Netolitzky.

The remainder is available to Stockwatch subscribers.
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS