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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 (208)7/6/1998 12:51:00 PM
From: Mr Metals  Read Replies (2) of 314
 
YBM Magnex International Inc -

Post's Francis notes Technigen connection

YBM Magnex International Inc YBMShares issued 44,222,9011998-05-13 close $14.35Monday Jul 6 1998The Financial Post reports in its July 4-6 edition that YBM Magnex International should not have been allowed on the once-prestigious Toronto Stock Exchange 300 composite index. Columnist and FP editor Diane Francis says allegations of fraud and connections to organized crime have swirled around YBM since 1995, when it listed on the Alberta Stock Exchange. As recently as March 1998, YBM was listed as a buy with a number of major brokerages, such as First Marathon, Nesbitt Burns, Socia Capital Markets, Canaccord Capital, and CTI Capital. Why did this happen? she asks. "Because greedy exchanges want listings and greedy stockbrokers want underwriting fees and commissions," Ms. Francis states. Ms. Francis takes time to recall her efforts to warn the public about a previous fraud, Technigen, and notes that both YBM and Technigen had a director in common -- Michael Schmidt -- but that his association with Technigen was not disclosed in early YBM documents. "His involvement in YBM, if disclosed, would have alerted me," she writes. (c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com

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