14:02:59 EDT Mon 15 Jul 2019
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Cipher Resources Inc
Symbol C : CIFR
Shares Issued 60,756,690
Close 2019-05-29 C$ 0.045
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Cipher sued by geologist Husband for $393,184

2019-05-31 09:59 ET - Street Wire

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by Mike Caswell

Cipher Resources Inc. is facing a $393,184 lawsuit in the Supreme Court of British Columbia from geologist Rod Husband, who claims that the company has failed to pay his fees and expenses going back to 2015. He says that the company's backer, Endeavour Financial Ltd., has blocked any payment to him. He is seeking a court order that would direct Cipher to pay his invoices and pay damages for "wanton and outrageous" disregard of his rights.

The allegations are contained in a notice of claim that Mr. Husband filed at the Vancouver courthouse on May 28, 2019. He identifies himself as a geologist and consultant to Cipher. Among other things, he developed a business concept for the company, made appropriate contacts and presentations on its behalf, and identified resource properties, the suit states.

According to the suit, Mr. Husband deferred billing Cipher for his services because it had no money. He claims that the company recognized his time and services as being legitimate, and it knew that it had an obligation to pay him. The company planned to pay him after it completed a financing, he says.

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