08:58:38 EDT Thu 25 Apr 2024
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GeoNovus Minerals Corp
Symbol GNM
Shares Issued 15,977,652
Close 2012-08-21 C$ 0.08
Market Cap C$ 1,278,212
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GeoNovus countersues Gardner over failed property deal

2012-08-22 13:38 ET - Street Wire

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by Mike Caswell

GeoNovus Minerals Corp. has filed a countersuit against Vancouver promoter Robert Gardner over a failed property deal, claiming that it paid him $75,000 for an opportunity the company never received. GeoNovus says Mr. Gardner was supposed to introduce the company to a property in Montana, but the property he presented was partly optioned to another company. According to the countersuit, GeoNovus had paid him $75,000 to ensure the claims remained available, but Mr. Gardner did not return the money after the deal failed.

GeoNovus is responding to a lawsuit that Mr. Gardner filed in the Supreme Court of British Columbia on July 18, 2012, over unpaid consulting fees. He claimed that he did not receive full payment for two months of work he did for the company. He said GeoNovus had retained him to introduce it to a property in Montana, and had agreed to pay him $150,000 plus expenses and GST. He claimed to have performed his part of the deal, but said the company only paid him $75,000.

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Obviously the claims were not compliant within the limitations of the agreement. There is no other reason that GNM would terminate such an arrangement. It is also true that Don Rutledge is involved using nominees in this situation, reason enough itself to run. This is a fact well known on the street. A simple telephone call to GNM management and to Robert Gardner confirms these reports, by the way, not withstanding numerous instances of them meeting in public, and being heard discussing such details.

Posted by WillyNilly at 2012-09-06 14:10


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