15:22:09 EDT Wed 17 Oct 2018
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Getty Copper Inc
Symbol C : GTC
Shares Issued 108,427,205
Close 2018-10-05 C$ 0.04
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Getty Copper's Lepinski takes board members to court

2018-10-09 10:49 ET - Street Wire

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by Mike Caswell

Getty Copper Corp.'s chief executive officer, John Lepinski, has filed a case in the Supreme Court of British Columbia against three members of the company's board. He claims that they are part of an effort to gain control over the company's main asset, the Getty South property. Among other things, they approved an unnecessary financing that will bring in a large new shareholder, he contends.

The allegations are contained in a petition that Mr. Lepinski filed at the Vancouver courthouse on Sept. 27, 2018. Mr. Lepinski, who has had various roles with Getty Copper since at least 1992, identifies himself as the company's major shareholder, with 35 per cent of its shares. The case mostly targets three of Getty Copper's six directors: Dennis Milburn (who is the chairman), Donald Willoughby and Edward Robinson.

Mr. Lepinski's complaint centres around talks that had been under way for years between Getty Copper and Japan's Sumitomo Corp. The subject of the talks was the Getty South property and, to a lesser extent, Getty North. The Getty South property is adjacent to Teck Resources Ltd.'s Highland Valley copper mine, which Sumitomo is indirectly interested in as it owns a substantial number of Teck shares.

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sumitomo wanted the ground and the company didn't do the deal? pathetic when people on medication are running a public company. the deal trades nothing, has no marketing, the fight is over a dead in the water deal which could have had $2million in the bank from sumitomo, duh

Posted by duh at 2018-10-09 12:08