Colorado Resources sues former president Travis
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by Mike Caswell
Colorado Resources Ltd. has filed a lawsuit in the Supreme Court of British Columbia against its former president, Adam Travis, claiming that he misused company resources for his own purposes. Among other things, he treated Colorado as his "own personal bank" and spent company money to advance a mineral project of his own. He also hired relatives to perform work for which they were unqualified, the company claims.
The allegations are contained in a notice of claim that Colorado filed at the Vancouver courthouse on March 15, 2018. The suit stems from consulting work that Mr. Travis billed to Colorado Resources from 2009 until the company ended his consulting agreement in 2018. Supposedly Mr. Travis was performing work on the company's behalf, but at least some of the time he was working on a piece of ground that he personally held, at least as Colorado sees things.
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| Adam Travis |
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Wow, what a useless suit by dinasoar Nagy! So obvious he is just distracting shareholders for his negligence of fiduciary duty to Colorado shareholders when he was trying to steal away the K-C property for his self interests as President and CEO of Damara. Proof is in how many shares of Colorado he held as opposed to shares in Damara!
Posted by jim at 2018-03-21 13:16If true, these antics [on either side of this dispute] contribute to trashing the reputation of the TSXV.Not good for anyone.
Posted by Sideliner at 2018-03-21 13:49shoe salesmen, pe teachers, welfare recipients, social housing tenants... the like can be promoters, presidents of public companies playing office, acting out "suits" at local eateries---- not an eyelash flickers---not a story written--- at least Travis when he started out going into bush forays with his neighbour friend and the prospector, they got paid, they then went on to work in the industry, not hiring new blood and paying them to be able to get an education and perhaps interested in the field, has a market where 90% of the deals sit not trading because the mouthpieces have no clue. drill baby drill.
Posted by wild west at 2018-03-21 15:00this is a reality. If one offer on a prospect has to be considered, not taking the offer because you hope to receive better while running a public company is what?...there may be legal precedents if not one should be established, because it truly is a case of not working in interests of public company--- regardless if it is insiders making the offer via another company----it is better than nothing else, but why didn't CXO go to the claim boundary, as the GTT discovery is right near the boundary of the claims, and start drilling???....GTT discovering gold everywhere from maps, suspect being taken over?
Posted by wild west at 2018-03-21 15:06