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MGX Minerals Inc
Symbol XMG
Shares Issued 140,385,960
Close 2019-10-30 C$ 0.135
Market Cap C$ 18,952,105
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MGX directors defend attempt to fire Lazerson

2019-10-31 11:35 ET - Street Wire

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by Mike Caswell

MGX Minerals Inc. directors Lyndon Patrick and Michael Reimann say that they fired the company's chief executive officer, Jared Lazerson, for self-dealing and for misusing company money. Among other things, he transferred $500,000 of MGX's money to a numbered company for no legitimate purpose and used $1.6-million of MGX's money to pay for a personal bodyguard, the men claim. As they see things, his actions amounted to a breach of duty.

The statements by Mr. Patrick and Mr. Reimann come in response to a lawsuit that MGX filed against them in the Supreme Court of British Columbia on Oct. 10, 2019. The company complained about news releases the men issued, purportedly on behalf of MGX, in which they said that the company had fired Mr. Lazerson. MGX claimed that the news releases were not authorized and that Mr. Patrick and Mr. Reimann had breached their duty to the company. MGX also made it clear that Mr. Lazerson remained CEO.

Jared Lazerson
Jared Lazerson

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I'm shocked, shocked to find that gambling is going on in here

Posted by philip at 2019-10-31 12:08

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