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Gold/Mining/Energy : YBM Magnex Intl Sees Revenue Growth 30-35%/Yr In MagnetOp

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To: Adrian du Plessis who wrote (185)6/16/1998 5:01:00 PM
From: Mr Metals  Read Replies (1) of 314
 
YBM Magnex International Inc -

Mouthpiece Mahoney says client has a good name

YBM Magnex International Inc YBMShares issued 442229011998-05-13 close $14.35Tuesday Jun 16 1998Patrick Mahoney of McLeod & Company, YBM's Calgary solicitors, reports in a letter of June 15 that a Canada Stockwatch item dated June 12 1998 is derogatory to YBM's Jacob Bogatin. Mr Mahoney writes that his client seeks an acceptable clarification of this clarification of a clarification. On June 8 YBM issued an executive summary that it says is qualified in its entirety by detailed information in a full report that it will not release. The entirely qualified summary says an investigation of unspecified scope confirmed significant breaches of corporate policy it does not identify. The company says unnamed officers were involved based on the unidentified breaches of policy and have been reprimanded in unknown fashion. YBM says, in entirely qualified words, that an investigation of unspecified scope confirmed significant, unspecified, policy breaches by its unnamed chief operating officer. On June 9 The Philadelphia Inquirer mistakenly reported that the unnamed COO was Jacob Bogatin. After YBM named the COO as Igor Fisherman, the Inquirer clarified its story. Stockwatch has never identified Mr Bogatin as YBM's COO. Mr Mahoney says that his client, CEO of the company whose head office was raided last month by dozens of US federal agents as part of a criminal probe, is not prepared to have aspersions cast on his good name. (c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com

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