14:01:37 EST Fri 06 Dec 2019
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iMetal Resources Inc
Symbol IMR
Shares Issued 111,731,583
Close 2019-06-05 C$ 0.05
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iMetal sued by shareholder Danielsson

2019-06-05 10:43 ET - Street Wire

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by Mike Caswell

iMetal Resources Inc. is facing a lawsuit in the Supreme Court of British Columbia from a shareholder, Pieter R. Danielsson, who complains that the company terminated a consulting agreement between him and the company for no good reason. He says that iMetal incorrectly cited his efforts to solicit proxies ahead of the 2017 annual general meeting. He is seeking damages for breach of contract.

The allegations are contained in a brief notice of claim that Mr. Danielsson filed at the Vancouver courthouse on Tuesday, June 4. Mr. Danielsson identifies himself as a shareholder and as a $5,000-per-month consultant to iMetal. He does not say exactly what he did, only referring to his job as to "provide consulting services to iMetal in relation to various aspects of iMetal's operations."

What Mr. Danielsson does set out is the premature termination of his consulting agreement, which he says occurred on July 27, 2017. On that date, iMetal dismissed him after he supposedly solicited proxies ahead of the company's 2017 AGM. The dismissal, as described by Mr. Danielsson, was without any valid reason. He denies that he solicited any proxies, and if he did solicit any, he did so in his capacity as a shareholder and not as a consultant, he contends.

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