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Gold/Mining/Energy : vescan equities -- Ignore unavailable to you. Want to Upgrade?

To: snorkel who wrote (288)	2/10/1999 3:43:00 PM
From: AuFingr	Read Replies (2) \| Respond to of 328

I received this e-mail from Lonnie Hayward this morning. Message follows. Hopefully we can get some legal action to solve this once and for all and get trading. Post it anywhere else there are Vescan shareholders tuned in, everybody needs to read this. Regards, AuFingr ................................. Well it's been a long time. Just thought I'd inform you on some current events with Vescan. I am telling you so you can spread the word. About 8 months ago Ross MacDonald and I purchased a Nasdaq shell. We went to a guy named Andi Romanack at Century Capital in Vancouver. I paid out over $43,000 out of my own pocket to start things going and the rest was to be paid upon completion, The $43,000 balance, as promised to the shareholders. We then appointed Tim Copland to the board of the new shell to start things going (that's when he resigned from Vescan and immediately went to Anglo-Sierra the shell that would save Vescan). After signing the check I was told that it would take 4-6 months to get approved and send in new projects etc. I called Ross and Tim every week for updates and gradually they stopped returning my calls eventually telling me they would call me when it was ready. A month ago I confronted Ross and found out he was taking actions against Tim because he had taken all the shares and had moved them offshore instead of allocating them for the shareholders. And in addition Anglo - Sierra (the shell) was up and trading at .50 USD. I then called Andi at Century Capital and asked him why if I'm the one that paid for the damn thing that he didn't notify me of it trading and so on. He then told me that he had a lot of outstanding bills from Anglo Sierra and that he had not turned it over to Tim. And that he was going to take back the shell and resell it to someone else. But in order for me to get my investment back I would have to sign a release. I told him I'd be glad to so long as I would get my money back and destroy the scam Tim was trying to pull off. He assured that he would be taking it back that day. He then got Ross to sign a letter also. I talked to Andi about reusing my money to start another one again. He agreed we could do it. Two days after we signed the release we find out that Andi was working with Tim to pull this scam off ( freakin wonderful ) getting us to pay for this and getting us sign off and away they go. We have gone to lawyers and want the shareholders of Vescan to know that Ross and I bought the shell and paid for it and then lost it because of Tim Copland and Andi Romanuck at Century Capital. And to no surprise Tim is the same clown that was (we find out now) blowing out Vescan shares. Because he was a director of Vescan he is liable to each and everyone of us. We should nail this guy and his group. Tim is now sitting on a company and shares that were bought on behalf of the shareholders of Vescan. Feel free to call Tim at his home (604) 684-8699 / cell 808-0449 / 925-2892 /541-8428) As of Feb 1/99 Bill Whittle and I have gone on as directors. We have both been to Calgary and spoke to the auditor and went to the exchange seeking answers. It turns out that Ross MacDonald had not even contacted them regarding an audit. In addition. The last few months of Vescan's existence turned out to be yet another stock blowout by the directors and one of its promoters in Edmonton. Bill Whittle and I have concluded that, now that we have control it is time to take serious action. You see Ross and Tim would not let me go on the board before because they knew I would freak if I saw what had happened or what was happening. We are now have possession of the books and now have proof of the wrong doing. We therefore are taking legal action against anyone and everyone that was issued shares and options that weren't paid for. 2. Restructuring this disaster. At present we have a soft cease trade on us. In seven weeks that will turn into a regular cease trade, which will essentially destroy any hope Vescan has of ever trading again. We have met the Auditor and all the necessary people to get this going. We are going to need approx $20,000 CDN to get the audit done, and call two general meetings (that we are behind on) and mail out a proxy getting full approval for a rollback and company JV. This is the way it was supposed to be done. Getting shareholders approval before taking action. For those shareholders that are leery of any people involved with the resurrection of this project. We understand. That's why all monies forwarded to help Vescan will go directly to Maitland and Company in Vancouver, B.C.. We ask that you send a min of $100.00 to this law firm. And should you have any questions please do not hesitate to call Bill at 604-535-7256. There were many undesirables involved with Vescan who made it difficult to take it from them. Many directors have been strong armed into making moves that hurt Vescan and in the process of taking this over we have been pushed around also. We have taken it away from them . It is now done. If the shareholders support us, all involved will be sued and the company restructured. (I am sick to death of the lack of support and continual kicking that come with trying to save this stupid thing. Therefore if you don't want to support us DON'T. I am doing this for the friends and family that I got involved in this thing and I will do so with or without your support. If I can do this every shareholder is going to get something back NO PROMISES.) However we do need help. The books are opened and the auditor, lawyer, and exchange have viewed everything, and are prepared to forensic the hell out of this thing. Please respond only if you want to pitch in. Otherwise sit back and wait. It's going to get bloody. Lonnie Hayward