The Law
posted on
Feb 13, 2016 09:13PM
Keep in mind, the opinions on this site are for the most part speculation and are not necessarily the opinions of the company WITHOUT PREJUDICE
In conjunction with my post where Lori shared with the SLI investor about "the geo being extremely excited" and other quotes, I wish to share HOW Lori broke the LAW once again. If any reader of this forum is unfamiliar with the laws, the link provided gives a general information on a few laws and how they apply. As you can see, not only is there a BREACH of the 43-101 Instrument in this case, but also a BREACH of the NI 51-102, as presented below.
Now please, think to yourself WHY does the authorities NOT enforce these simple laws that could assist SLI investors? The only answers I am able to come up with, is that authorities are part of this and are protecting Lori, or an investigation is ongoing with NO REGARD to the jeopardy these authorities have caused to investors to this point in time.
The Law:
Material Changes
Under National Instrument 51-102, which is applicable to all reporting issuers in Canada, if a material change occurs in the affairs of a reporting issuer, the reporting issuer must:
(a) immediately issue and file a news release authorized by an executive officer disclosing the nature and substance of the change; and
(b) as soon as practicable, and in any event within 10 days of the date on which the change occurs, file a Form 51-102F3 Material Change Report with respect to the material change.
A “material change” means:
(a) a change in the business, operations or capital of the reporting issuer that would reasonably be expected to have a significant effect on the market price or value of any of the securities of the reporting issuer; or
(b) a decision to implement a change referred to in paragraph (a) made by the board of directors or other persons acting in a similar capacity or by senior management of the reporting issuer who believe that confirmation of the decision by the board of directors or any other persons acting in a similar capacity is probable.
http://www.snclaw.com/cgblog/49/123/Timely-Disclosure-Obligations