Engold sued by former president Brett
2025-06-17 20:13 ET - Street Wire
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by Mike Caswell
Engold Mines Ltd.'s former president, David Brett, has filed a lawsuit against the company in the Supreme Court of British Columbia, claiming that he was wrongfully dismissed amidst a campaign to force him out. He says that a broker "poisoned Brett in the minds of the other directors" and accused Mr. Brett of abusing Engold's stock option plan. The lawsuit seeks $254,400 in unpaid wages plus $222,600 in termination pay.
The allegations are contained in a notice of claim that Mr. Brett filed at the Vancouver courthouse on Monday, June 16. The events at issue, as set out by Mr. Brett, go back to September, 2014, when Engold approached him to become its president and chief executive officer. Terms of his employment included annual salary of $120,000 plus stock options to be issued on a regular basis, the suit states.
The problems that led to Mr. Brett's departure, as set out in the suit, arose when a brokerage employee started a "campaign of demonizing" Mr. Brett. That employee, who is also a defendant, is named in the suit as William Rogers of Prince George. (Mr. Rogers works at a Ventum Financial Corp. branch.) According to the suit, Mr. Rogers's clients cumulatively hold a controlling interest in Engold and Mr. Rogers holds influence with the company's directors.
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Best of luck to Mr. Brett.
Engold's latest financials (March 31, 2025) show that the company has $24,465 in current assets and $2,174,080 in current liabilities.
It's doubtful that Jesus Christ Himself, even with His expertise with the Loaves and Fishes Miracle, could resurrect even enough to cover Mr. Brett's Supreme Court filing fees.
Posted by halcrow at 2025-06-17 21:57
unlike halcrow inexperience at turning around junior exploration companies there are several exploration and market experts in this world that do not work in mieracles but marketable mineral projects. Mineral exploration companies of all sizes do not pray for success, it is gained experience and exceptional assets.
Lets hope the market does not lose another exploration company.
Posted by oh at 2025-06-18 04:13
Ah, oh..."work in mieracles"
Reminds me somewhat of "Hope Springs Eternal in the Born-Again Breast, 1 Peter 1:3-5 (some peoples' belief in a life after death).
May I suggest that you read Engold's MDA and A for the six months ended March 31, 2025?
While many may be waiting for the Second Coming and reincarnation, it's not too often that penny-stock companies reincarnate.
Posted by halcrow at 2025-06-18 10:31
David Brett has a lot of experience in the resource sector and worked with his father Gil Brett for many years in managing resource companies so am sure he knows what he is doing its been very difficult to raise $ in the resource sector for a long time and it looks like he did not get much support I say good luck David and I hope you get what you are owed
Posted by Sequential at 2025-06-18 12:55
@seq
Guil Brett is indeed a name to be reckoned with and respected and, because of his involvement with his son in other ventures (but not Engold, as far as SW's database shows), then Engold might indeed be worth a watch.
Posted by halcrow at 2025-06-18 19:15