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by Mike Caswell

Former Vancouver securities lawyer Richard Coglon has filed a lawsuit in the Supreme Court of British Columbia against Nasdaq listing Streamex Corp. over a stock option that he says is worth as much as $44-million. (All figures are in U.S. dollars.) Mr. Coglon claims that he made a "strategic introduction" that led to the company obtaining a U.S. listing. In return, he was to receive a stock option, but the company's management has conspired to keep him from exercising that option, he says.

The allegations are contained in a notice of claim that Mr. Coglon filed at the Vancouver courthouse on Thursday, Nov. 20. The defendants include Streamex, a company that touts itself as "a leader in institutional-grade tokenization and digital asset infrastructure." Also named are Vancouver-area businessmen Henry McPhie, Morgan Lekstrom and Mathew August.

The shares at issue, as set out in Mr. Coglon's lawsuit, arose from a lunch meeting on June 5, 2024, at Cardero's restaurant in downtown Vancouver. That meeting, as described by Mr. Coglon, involved the founders of Streamex, Mr. Lekstrom and Mr. McPhie, seeking advice for the company. According to the suit, Mr. Coglon believed that they needed a U.S. capital markets strategy and that he knew the person who could help them.

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