Behind Richdale and Cimino is British Columbia stock promoter Rene Hamouth. The British Columbia Securities Commission says it has a "substantial" file on Hamouth. "Regulators have been aware of him for a significant period of time," a spokesman says, without elaborating further. In 1993, Hamouth was acquitted in Toronto of manipulating the stock price of a mining company, Penway Explorers.
No lies.
Saturday, 27-Nov-1999 15:50:19 EST
Only the Truth.
NCDR
Released June 22, 1999
This is a list of companies that Rene Michel Hanouth of NCDR is/was involved in:
Bellwether Resources Ltd
* was disclosed as subj. of regulatory interest 9102
* was disclosed as a shareholder of Co 9106
VSE terminates Picasso lithographs and Fry-Lite oven deals
Bellwether Resources Ltd BLW
Shares issued 3,292,701 1991-04-22 close $0.1
Friday Dec 6 1991
Mr Adrian Hartmann reports
An AGM has been called for December 23 1991 at which Adrian Hartmann, Hanspeter Menger and Craig Butler will be nominated for re-election as directors of the company. In addition, subject to regulatory approval, shareholders will be asked to approve a share consolidation on the basis of three pre-consolidated shares for every one post-consolidation share and a name change of the company to Eurocontrol Technics Inc. On September 25 1991, the BC securities commission issued a cease trading order because the company failed to file financial statements within the prescribed time. On August 7 1991, the company accepted the resignation of Price Waterhouse as auditors of the company and appointed Peat Marwick Thorne until the next AGM. The company has now completed an audit of the fiscal year ended March 31 1991 and the six months ended September 31 1991 and the quarterly report for the quarter ended June 30 1991. All these statements have been mailed to shareholders and filed with the regulatory authorities together with appropriate filing fees. This has resulted in a revocation of the cease trading order. On April 26 1991 the VSE halted trading in the company's shares pending clarification of, among other things, the exercise of incentive stock options and the acquisition by the company of 70 Picasso lithographs and a licence to market Fry-Lite ovens for issuance of a total of 200,000 shares. On May 31 1991, the exchange suspended the company from trading.
At the request of the VSE, the company clarifies the share issuances as follows:
1. Regarding the exercise of options, Robert Knight, former president of the company, arranged for the exercise of incentive stock options granted by the company to Frank Bull and Jim Morgan. The 200,000 shares issued on February 27 1991 pursuant to these stock options were received by Robert Knight and Rene Hamouth. No consideration was paid to the company until May 2 1991 after it was queried by the exchange. The company is endeavoring to obtain payment for $2,500 which remains outstanding.
2.Regarding 200,000 shares issued pursuant to stock options granted to Craig Butler and Herman Prem (which appear to have been received by Robert Knight and others), payment was received by the company after the shares were issued.
3.Denis Shikitani entered into an agreement with the company whereby the company was to acquire certain distribution rights to Fry-Lite ovens for which 100,000 shares were issued to Mr Shikitani. Mr Shikitani does not hold the rights to the product.
4.The company did not receive all 70 Picasso lithographs to be acquired pursuant to an agreement with Barry Field-Dyte for which 100,000 shares were issued to Mr Field-Dyte. The exchange requires that both of the above acquisition agreements be terminated and the transactions unwound, and the 200,000 shares issued in connection therewith be returned to treasury. The company is in the process of complying with these requirements and expects to return 200,000 shares to treasury in the near future. The company has no assets, all mineral claims having lapsed. In addition to the resignation of Mr. Knight and the return of 200,000 shares to treasury, the company must meet other requirements of the exchange prior to reinstatement of trading. The new board of directors, and in particular Hanspeter Menger and Adrian Hartmann are taking steps to satisfy the requirements of the exchange, including the elimination of debt and the advancement of funds toward working capital. Upon reinstatement of the company for trading, the board of directors will explore business opportunities to form a solid asset basis for the company.
Ber Resources Ltd
* is a director of Co
* became a former director of Co 9103
Burro Creek Minerals Ltd
* was disclosed as a vendor to Co 9008
* was disclosed as a shareholder of Co 9008
* was disclosed as a litigant with Co 9101
CANBAR INV
* was disclosed as a shareholder of Co 8407
DYNASTY HOLD
* is or has been a shareholder of Co
El Dorado Systems (Canada) Inc
* was disclosed as a finder for Co 8407
HPY Industries Ltd
* is a former director of Co
* is or has been a shareholder of Co
MORR MIN AND EX
* was disclosed as a shareholder of Co 9106
Umbertino's Restaurants Inc
* was a vendor to Co
* is or has been a shareholder of Co
IBS Technologies Ltd (IBSTF)
* became a director of Co 8507
* became a former director of Co 9008
Algo Resources Ltd
* is a former director of Co
AGO - Algo Resources Ltd
*Address: Box 518, 289 Lezak Road Sealy TX USA 77474
*Phone 409 885 4158
*Company Website: argosy-mining.com
Boundary Gold Corp BGG
Shares issued 2,952,304 1991-04-25 close $0.05
Thursday Jun 6 1991
Further to the VSE halt notice dated April 26 1991, the trading status of the company is changed to suspended pending clarification of the following share issuances:
1. An additional 100,000 shares issued December 10 1990 to Candol Developments as fully paid, subsequent to the 100,000 shares issued November 6 1990, contrary to filings made with the VSE;
2. 100,000 shares issued December 10 1990 to Gary Freeman as fully paid;
3. 100,000 shares issued January 18 1991 to Ronda Walker as fully paid;
4. 100,000 shares issued February 8 1991 to Ronda Walker as fully paid;
5. 100,000 shares issued February 8 1991 to Morr Mining and Exploration, a company which was incorporated January 10 1991 and is owned or controlled by Mary Sloane and Rene Hamouth;
6. 100,000 shares issued February 8 1991 to Bill Whittle as fully paid;
7. 100,000 shares issued March 12 1991 to Lloyd Brewer as fully paid;
8. 100,000 shares issued March 12 1991 to Wesley Reynolds as fully paid;
9. 100,000 shares issued March 25 1991 to May Joan Yee as fully paid;
10.100,000 shares issued March 25 1991 to Denis Shikatani as fully paid;
11.200,000 shares issued April 4 1991 as fully paid, to Ruza Resource, a company which is controlled and/or beneficially owned by Jaroslav Ruza;
12.100,000 shares issued on or about April 12 1991 to May Joan Yee as fully paid; and Pending clarification of the company's affairs including disclosure and compliance with securities and corporate regulatory requirements. Members are prohibited from trading in the securities of the company during the period of suspension or until further notice.
Burro Creek Minerals Ltd -
Burro Creek Minerals Ltd BCK
Shares issued 4,315,219 1990-10-15 close $0.04
Tuesday Dec 31 1991
Mr Harry Melton has called a shareholders meeting:
1)To approve the transfer within escrow of 750,000 shares from James Newton to Harry L. Melton;
2)To consolidate the company's capital on a one for two basis;
3)To change the name of the company to Owyhee Calcium Products;
4)To approve the option to acquire the mineral properties and assets of Owyhee Calcium Products.
The company's most recent AGM was held June 26 1990 and audited financial statements for the fiscal year ended January 31 1990 showed the company's issued and outstanding capital as 2,217,601 shares. The most recent audited financial statements as at October 31 1991 show the capital at 4,315,219 shares. Since that previous AGM, the company has been delisted from the VSE and is subject to a cease trade order of the superintendent of brokers for BC. Currently, shareholders are unable to deal with their shares through the facilities of the VSE and will not have access to that market until the cease trade order is rescinded and a relisting application is accepted. However, the company has been under new management and direction since January 1991 and is presently set on a course of action aimed at relisting the shares and lifting the cease trade order.
On January 23 1991, the company, under its new management, commenced an action against two former directors and officers and a former undisclosed promoter of the company. Mr Newton, a former president and director and currently holding all 750,000 escrow shares, is a defendant to this action. The company's claim focuses on the undisclosed issuance of 1,950,000 shares from treasury during a time period from March to September 1990. The majority of these shares were issued as consideration for various mineral properties, or so it was made to appear. A review of the company's records by the company's solicitors revealed no directors' resolutions or minutes with respect to the issuance of any of these shares. Submissions to the regulatory authorities regarding the transactions were not made. News releases were not issued.
Treasury orders signed by the defendants were delivered to the company's registrar and transfer agent and the shares were issued on false pretenses. The company does not have title or any interest in any of the mineral properties for which the shares were supposedly issued. The impugned shares remain outstanding and have resulted in substantial dilution of the members' holdings. The action was commenced at the instigation of two out of town directors who were not informed of any of the contested share issuances. An injunction has been issued by the supreme court of BC preventing the defendants and their nominees and certain brokerage firms from dealings with the shares, or their re-registered form, in any manner.
This injunction has the effect of freezing any shares held in the names
of the defendants and their nominees or that may have been re-registered into street form in the name of a brokerage firm. Upon finalization of this court action, the company will take back and cancel as many of the illegally issued shares as possible. Unfortunately, it is highly possible that a number of the 1,950,000 shares that were wrongly issued were sold to third parties prior to trading being halted by the exchange and are not frozen by the injunction.
The company's solicitors are negotiating with the defendants' solicitors
to retake as many shares as are available at this point. Mr Harry Melton, the president and a director of the company, proposes to take
receipt of 750,000 performance escrow shares by way of a transfer within escrow from Mr James Newton. This proposed transfer, for which shareholder approval is sought, is contemplated as a partial settlement of the company's action.
A news release was issued on May 11 1990 and a material change report was filed with the superintendent of brokers indicating that Keath Aven had been appointed as a director and the president of the company and that a change in control was to be effected by way of a transfer within escrow of the escrowed shares from James Newton to Keath Aven for $15,000, ($0.02 per share), subject to shareholder and regulatory approval. The transfer within escrow was not approved by the VSE and direction or consent was given to the escrow agent.
The escrowed shares are part of a proposed settlement in connection with the legal action commenced to the company against certain former directors, officers and promoters of the company, whereby Harry Melton, a director and the president of the company, will become the beneficial owner of the escrowed shares. The following description of the impugned share issuances of the company is based on investigations conducted in forensic manner by the company's solicitors and information contained in the statement of claim filed January 23 1991 and documents filed in support thereof:
a) On May 10 1990, 100,000 shares were issued in the name of Donald Whorley, pursuant to a treasury order signed by James Newton, a former director and president of the company. These shares were ostensibly issued as consideration for a mineral claim (record number 7016) in the Liard mining division, BC, by Jaroslav Ruza and owned of record by Ruza Resources, a BC non-reporting company of which Ruza is the sole director;
b) On May 24 1990, 100,000 of the shares were issued in the name of Victoria Diego Resources, a BC company of which Whorley is a director and shareholder, pursuant to a treasury order signed by Newton. These shares were ostensibly issued as consideration for a 24.4% interest in a mineral property known as the Snowflake claim group, the details of the title to which are now known to the company;
c) On May 28 1990, 100,000 of the shares were issued in the name of Pierre Lessard pursuant to a treasury order signed by Newton and Keath Aven, a former director and officer of the company. These shares were ostensibly issued as consideration for a 50% interest in property known as Rasmussen Mill Equipment, the nature and location of which is not known to the company;
d) On May 28 1990, 100,000 of the shares were issued in the name of Imo Hudani pursuant to a treasury order signed by Aven and Newton. These shares were ostensibly issued as consideration for a mineral claim (record number 3330) in the Vernon mining division, BC, staked to Paul Plicka and owned of record by Plicka;
e) On June 19 1990, 100,000 of the shares were issued in the name of Syndicated Mineral Properties pursuant to a treasury order signed by Newton. These shares were ostensibly issued as consideration for an interest in a mineral claim or claims known as the Galore Creek mineral property, the details of title to which are not known to the company.
f) On June 19 1990, 100,000 of the shares were issued in the name of Imo Hudani pursuant to a treasury order signed by Newton. These shares were ostensibly issued as consideration for a mineral claim (record nubmer 11568) in the Omineca mining division, BC, staked by Ruza and owned of record by Syndicated;
g) On July 5 1990, 100,000 of the shares were issued in the name of Whorley pursuant to a treasury order signed by Aven. These shares were ostensibly issued as consideration for a mineral claim known as the Galore Creek mineral property, the details of title to which are not known to the company;
h) On July 5 1990, 100,000 of the shares were issued in the name of Bob Shaw pursuant to a treasury order signed by Aven. These shares were ostensibly issued as consideration for a mineral claim known as the Galore Creek mineral property, the details of title to which are not known to the company.
i) On July 24 1990, 100,000 of the shares were issued in the name of Lisa Moffat pursuant to a treasury order signed by Newton. These shares were ostensibly issued as consideration for a mineral claim (record number 7447) in the Liard mining division, BC, staked by Ruza and owned of record by Moffat;
j) On July 24 1990, 100,000 of the shares were issued in the name of Pierre Lessard pursuant to a treasury order signed by Newton. These shares were ostensibly issued as consideration for a mineral claim (record number 7425) in the Liard mining division, BC, staked by Ruza and owned of record by syndicated;
k) On July 26 1990, 100,000 of the shares were issued in the name of Syndicated pursuant to a treasury order signed by Aven. These shares were ostensibly issued as consideration for a mineral claim (record number 7418) in the Liard mining division, BC, staked by Ruza and owned of record by Syndicated;
l) On August 1 1990, 100,000 of the shares were issued in the name of Whorley and 10,000 were issued in the name of Imo Hudani pursuant to a treasury order signed by Aven. These shares were ostensibly issued as finder's fees;
m) On August 1 1990, 100,000 of the shares were issued in the name of Ruza pursuant to a treasury order signed by Aven. These shares were ostensibly issued as consideration for a mineral claim (record number 7439) in the Liard mining division, BC, staked by Ruza and owned of record by Syndicated;
n) On August 1 1990, 100,000 of the shares were issued in the name of Laura Oakley pursuant to a treasury order signed by Aven. These shares were ostensibly issued as consideration for a mineral claim (record number 7450) in the Liard mining division, BC, staked by Ruza and owned of record by Whorley;
o) On August 7 1990, 100,000 of the shares were issued in the name of Lisa Moffat pursuant to a treasury order signed by Aven, ostensibly as a finder's fee;
p) On August 7 1990, 100,000 of the shares were issued in the name of Rene Hamouth pursuant to a treasury order signed by Aven. These shares were ostensibly issued as consideration for a mineral claim (record number 7421) in the Liard mining division, BC, staked by Ruza and owned of record by Syndicated;
q) On August 7 1990, 100,000 of the shares were issued in the name of Imo Hudani pursuant to a treasury order signed by Aven. These shares were ostensibly issued as consideration for a mineral claim (record number 7444) in the Liard mining division, BC, staked by Ruza and owned of record by Moffat;
r) On August 21 1990, 100,000 of the shares were issued in the name of Mark Cordick pursuant to a treasury order signed by Aven. These shares were ostensibly issued as consideration for a mineral claim (record number 3330) in the Vernon mining division, BC, staked by Plicka and owned of record by Plicka. As referred to above, 100,000 shares were also issued as consideration for this mineral claim to Imo Hudani on May 28 1990;
s) On August 21 1990, 10,000 of the shares were issued in the name of John White and 10,000 of the shares were issued in the name of Whorley pursuant to a treasury order signed by Aven, ostensibly as finders' fees;
t) On August 21 1990, 100,000 of the shares were issued in the name of Jim Barnes pursuant to a treasury order signed by Aven. These shares were ostensibly issued as consideration for a mineral claim (record number 3331) in the Vernon mining division of BC, staked by Plicka and owned of record by Plicka;
u) On September 12 1990, 100,000 of the shares were issued in the name of Pengold Resources, a BC company, pursuant to a treasury order signed by Aven. These shares were ostensibly issued as consideration for a 50% interest in mineral property known as the Dunlop Bay property in Abitibi, Quebec, the details of title to which are not known to the company;
v) On September 12 1990, 100,000 of the shares were issued in the name of Ruza pursuant to a treasury order signed by Aven. These shares were ostensibly issued as consideration for a mineral claim (record number 7427) in the Liard mining division, BC, staked by Ruza and owned of record by Ruza Resources.
All of the impugned share issuances were made pursuant to treasury orders signed by Newton and/or Aven and delivered to the company's registrar and transfer agent. Notations on certain treasury orders indicated that the share issuances were made as consideration for the
rights to mineral properties ostensibly acquired by the company. The 1,950,000 shares were issued and registered in the names of the persons described above. All but 110,000 of those shares were subsequently re-registered into street-form (i.e bearer form registered in the names of a brokerage firm or brokerage firm clearing intermediary). Of the 110,000 shares not re-registered, 10,000 were returned to the company. Various brokerage firms guaranteed the signatures of the registered holders.
On October 17 1990 the VSE halted trading in the company's shares pending clarification of such share issuances. A trading suspension was issued on November 5 1990. Concurrently with the commencement of the action on January 23 1991, the supreme court of BC issued an injunction based on evidence of irregularities regarding the title to the mineral properties, the recipients of the issued shares and the re-registration of the shares into street form, enjoining the defendants and their nominees, (including but not limited to Victoria Diego Resources, Pierre Lessard, Imo Hudani Syndicated Mineral Properties, Bob Shaw, Lisa Moffat, Jarowslaw Ruza, Laura Oakley, Rene Hamouth, Mark Cordick, Jim Barnes and Penn-Gold Resources), from trading, transferring or otherwise dealing with the shares in any manner and freezing certain brokerage accounts in which the shares were deposited. The court order obtained by the company ordered that certain brokerage firms be enjoined from trading or making delivery of any shares of the company from any of their client accounts into which any of the impugned share certificates were deposited. Further, the brokers were to deliver to counsel for the company all information regarding the numbers and location of any of the impugned share certificates that are or were in the possession of the brokers. Pursuant to correspondence received from the brokers, 548,500 shares held by the brokers were subject to the restraint imposed by the injunction.
Wedgewood Resources Ltd WGW
Shares issued 2,042,000 1993-03-17 close $1.9
Monday Mar 29 1993
On March 26 1993, the BC securities commission advised the VSE that the company had filed the required records for which it was subject to a cease trade order dated March 17 1993. However, trading will remain suspended pending clarification of market activity, share distribution and the involvement of Mr Rene Hamouth.
Securities Commission SECURITI
Shares issued 0 1993-12-16 close $0
Friday Dec 17 1993
Ms Joyce Maykut reports
On February 26 1991 the Superintendent of Brokers made temporary orders that statutory exemptions available to Rene Hamouth and Rajiv Vohra do not apply and that they are prohibited from becoming or acting as officers and directors of any reporting issuers;
As the Commission ordered that the temporary orders be extended until a hearing is held and a decision is rendered and subsequently adjourned the hearing by consent; the temporary orders were made in reliance on Hamouth and Vohra being subject to a criminal charge in Ontario that related to trading in securities; on October 26 1993 Hamouth and Vohra were acquitted of the charge; as the Commission considers that it would not be prejudicial to the public interest to do so; it is ordered that the temporary orders be revoked. Dated at Vancouver, BC, on December 16 1993. |
