Explore Guy
So as you understand how it all came together. Salazar who owned 955528 Alberta Ltd. Which entered into an option agreement in January of 2002 with Teck Cominco to acquire up to 93.4% interest in the Schaft Creek copper-gold-molybdenum-silver deposit. This was just after the 2000 bubble crash and funding was hard to come by. SO his company a bit later merged with Copper Fox Metals Inc.
Then did a PP
The merger structure is in the table below Original and after the PP. Elmer retained an amount equal to the largest shareholder at the time and was Chairman of the Board. Salazars influence had been reduced to less than 1.67%
Elmer was the guy with contacts and as always could generate operating funds when required. I suggest that is why they not just wanted, but rather needed him.
The company did very well then climbing to $1.60 per share. Until the spring of 07. The beginning of the crash. I was a weak hand and jumped ship. A victim of the times it basically collapsed into financial distress. Like a multitude of others.
I had gone to cash or into utilities on most every thing owned. Later our company was working in the north. I heard via moccasin telegraph, Elmer was seeking some deep pockets to put it back on track ( I use the term as I'm a card carrying native ) Thinking it could be scooped up on the cheap.
A phone call confirmed if an investor could be found they would certainly complete the exploration.
Now Elmer was always pretty good at finding money. So I gambled and bought 100k @ .08 cents. It wasn't long after Ernesto was discovered.
I would venture to guess Elmer was about 99, 44/100Ths % responsible for locating him. The deal was made and Elmer was installed as CEO when Ernesto transferred the funds. The rest is history.
In my opinion Elmer directed the show from the day he came aboard. Salazar was just a figure head CEO. After Elmer arrived.
The merger to Copper Fox.
The following table lists those persons who own all of the issued and outstanding Common Shares of the Corporation as at the date of this prospectus:
(1) Percentage of Shares Owned Before Giving Effect to this Offering Percentage of Shares Owned After Giving Effect to this Offering Before After
(2) Elmer B. Stewart Calgary, Direct 500,000 25.0% 8.33%
3) 692169 Alberta Ltd. 500,000 25.0% 8.33%
Lyncorp International Ltd. 500,000 25.0% 8.33%
J. Michael Smith 200,000 10.0% 3.33%
Adrian G. Mann 200,000 10.0% 3.33%
Guillermo Salazar 100,000 5.0% 1.67%
TOTALS 2,000,000 100.0% 33.32% |
