EDITOR: | October 7th, 2020 | 50 Comments

Clausi on Giga Metals insiders riding the Reuters’ Tesla story and the regulators who turned a blind eye

| October 07, 2020 | 50 Comments

For background, you can’t do better than read Chris Parry’s excellent article here. To summarize, some insiders at Giga Metals Corporation (TSX.V: GIGA | OTCQB: HNCKF) exercised cheap derivatives (including stock warrants at $0.08 and options at $0.20), and a few short weeks later the stock magically sprinted to $1.65, eventually topping $2.00. Some insiders pounded bids and aggressively took millions of dollars out of the market into their own pockets.

Anthony Milewski, Giga’s Non-Executive Chair and a board member, sucked over CAD$6M out of the market on Giga’s sprint. Giga’s President Martin Vydra took close to $2M out of the market as he sold sold sold. Chair Lyle Davis exercised his options on September 9. He then promptly traded his shares for other people’s cash, to the tune of about $124k. CFO Matt Anderson grossed ‘only’ $142k out of the market. The Corporate Secretary Leslie Young got in on the exercising and the selling, taking over $100,000 out of the market.

Pulled from Sedi.ca, here’s a summary of their respective costs and the stunning profits realized:

What happened to make the share price take off? An obscure journalist named Pratima Desai wrote an article, distributed with the credibility of Reuters behind her on September 10, alleging Giga was in discussions with Tesla Motors “…about helping to develop a large mine that would give the electric carmaker access to low carbon nickel for its batteries, three sources familiar with the matter said”. The Globe and Mail reprinted her story on September 11. The Globe and Reuters have a controlling shareholder in common so the reprint was normal course. Giga Metals moved up +184.48% that day.

The problem is, Desai’s story wasn’t accurate.

Does Giga have a deal with Tesla? Definitively no. How do we know? First, no deal has been announced – the absence of evidence is in itself evidence. Second, Giga itself put out a news release on September 11th saying there isn’t a deal (link here). Third, because any insider who exercised options while those material negotiations were underway would have been breaking insider trading rules. And lastly, from a human perspective, if negotiations with Tesla were that advanced with the future so bright they’d have to wear shades, the selling insiders would not have been bid bangers. So no Tesla deal.

There are a lot of weird parts to this story. Desai and Anthony Milewski, Giga’s Non-Executive Chair and a board member, have history involving a story she earlier wrote about his prior company, Cobalt 27 Capital Corp. Giga’s President Martin Vydra was actually quoted in Desai’s story, so he knew it was coming. Davis exercised his options on September 9, the day before Desai’s story hit the wire. And this isn’t an area Desai usually covers, so why did she write it and why did Reuters allow it to go to press? And why hasn’t Reuters withdrawn the story or apologized for shoddy reporting?

Chris Parry has been chasing Reuters for answers. In an email he shared with me, Reuters wouldn’t confirm or deny it had verified Desai’s anonymous sources prior to or since running her story. That’s crummy journalism.

There are only three possible plotlines here that make any sense:

  1. Insiders knew the story was coming and Desai was a willing participant in a market scam.
  2. Insiders appear to have known the story was coming and Desai was duped into writing it.
  3. Insiders were as surprised as everyone else by Desai’s grossly inaccurate reporting, leading one to wonder why she wrote the story in the first place.

If you follow Chris Parry’s Twitter feed you’ll see an implied litigation threat from Milewski. Parry’s response was “If you’re coming, you better come strong, Anthony.” Parry confirmed to me in writing on October 3 that he knows of no such litigation against him.

It’s a strange mess, made worse by the fact it’s not just bandits in this story. Good people work at Giga too, people with long credible histories in mining and the public markets. They are going to be tainted by this for a long time. They don’t deserve it and they ought to be furious. They need justice.

Then there are the market participants who believed Desai’s story and bought stock at elevated prices. Those are real people who lost real money. With the stock firmly on a downward trend and no Tesla deal, they need justice, too.

And ‘the markets’ generally deserve justice. A scam like this is so obvious it seriously undermines the public’s faith in a fair and open market. This makes Bre-X look like a George Clooney casino job.

But from whom are they going to get justice? It’s been almost a month since Desai’s inaccurate story was published. We’ve seen nothing from IIROC, the TSX Ventures Exchange, the British Columbia Securities Commission or any securities commission in Canada, the Ontario Provincial Police fraud squad, or the Royal Canadian Mounted Police. All have jurisdiction, no one seems to be doing anything.

Of the list, the most likely regulator to do anything is the BCSC. It has incredibly broad investigative powers given to it in sections 142 and 143 of the British Columbia Securities Act, powers that could be used to pitchfork through this manure pile. It can search premises, compel the production of documents, and, editing section 143(1)(e):

An investigator appointed under section 142 or 147 may, with respect to the person who is the subject of the investigation, investigate, inquire into, inspect and examine the relationship that may at any time exist or have existed between that person and any other person by reason of

  1. investments made,
  2. commissions promised, secured or paid,
  3. interests held or acquired,
  4. the lending or borrowing of money, securities or other property,
  5. transfer, negotiation or holding of securities or the trading of or holding of derivatives,
  6. interlocking directorates,
  7. common control,
  8. undue influence or control, or
  9. any other relationship.

Let’s find out who the bad guys in this story are. Go ask some basic questions of the Giga insiders. What was the relationship between Desai and any of the insiders at Giga? When did the insiders find out Desai was writing the article and when did they find out it would be published? Why did all of you decide to exercise warrants and options at more or less the same time? Was Giga ever in discussions with Tesla as alleged in Desai’s article? Did Giga’s board or governance committee have a meeting after Desai’s article was published, and if so, where are the minutes? Follow the trades through IIROC and all registrants.

Ask Desai, who were your sources? (I don’t expect her to answer that one.) What’s your relationship with anyone at Giga? Please produce your drafts of the article. Did you contact Martin Vryda for the quote for your article, or did he contact you first? What motivated you to write this story? Were you compensated in any way for writing this article?

Have a session with Reuters. Did you verify the anonymous sources before you ran Desai’s story? After? Without disclosing their identities, do you know who they are? Did you ask Desai why she decided to write a story out of her usual coverage area? When did she come to her editor / publisher with the idea for the story?

And finally, the BigFun, invite Tesla to answer whether it was in meaningful discussions with Giga at any time. Remember the BCSC has the legislated powers to make Tesla’s life hell, and Tesla will want to engage rather have a repeat of its SEC battles.

Simple questions, the answers to which will show who the malfeasors are.

The BCSC has the best chance of bringing justice but the TSX-V has some authority here as well, though it (like IIROC) has to be careful not to punish the shareholders for someone else’s sins. It has the authority to manage its own affairs including who is allowed to be an officer or director of a company listed on it, and it has a well-staffed compliance department. So investigate! If the bad guys are insiders, remove them and ban them from other companies on your exchange, too. Work with the OSC and the BCSC to have them permanently banned from trading in Canada’s markets. Do proactive work to reach agreements with Canada’s other exchanges so that in the future in a case like this a ban from one is a ban from all. Think big and reach a similar reciprocal agreement with the Securities and Exchange Commission.

I don’t have much faith in the other regulators. Look at the Bre-X mess that led to the creation of National Instrument 43-101. Even in that vast criminal enterprise, the only person ever prosecuted was John Felderhoff, and he was ultimately acquitted. The OSC put as much effort into fighting his lawyer (the bearded and wonderfully annoying advocate Joe Groia) as it did in the actual case against Felderhoff!

The exchanges and the commissions, despite having considerable power, make policy decisions not to get involved where they have to do too much work. Too great an investment of resources only to reach an uncertain conclusion and a likely appeal, they say. They would prefer law enforcement (OPP fraud squad and the RCMP) to investigate and take the perps away in cuffs, like in the United States. Jail time and massive fines are effective general deterrents.

Ultimately, I fear, the only ‘justice’ is going to come from class action litigation that will drag for years, cost Giga time and money, distract Giga from what it should be doing, punish the shareholders, and ultimately be settled under the company’s D&O policy without any admission of liability. We may never know who the criminals are here.

Consider this a call to arms, a rallying cry, a challenge to the regulators and their own governing bodies. Don’t put together yet another committee headed by a Bay Street lawyer for the sake of optics. Make real change. You know what the problems are so go fix them! Get more power and use it responsibly. Don’t waste time on a broker who accidentally printed a blue ticket instead of a pink. Go elephant hunting. Work with law enforcement to coordinate investigations and share as much information as constitutionally possible. Investigate, charge, prosecute. Repeat as needed. Nothing else will restore the public’s faith in a fair marketplace.


Mr. Clausi is an experienced investment banker, executive, director and shareholder activist. A graduate of Osgoode Hall Law School called to Ontario's bar in 1990, ... <Read more about Peter Clausi>

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  • Laurence Markham

    Excellent writing Peter!
    I along with numerous others were seduced by that Globe and Mail article. I immediately put Giga on my watchlist. Thankfully I didn’t pull the trigger. It’s hard enough trying to make money in this current market without having to second guess credible news sources. Keep up the good work. You have a fan.

    October 7, 2020 - 7:30 PM

  • Jack Lifton

    I have been a director of a Canadian company, and I was vetted by the Ontario Securities Commission in order to qualify for that office. How can Milewski et al now continue to hold their Canadian corporate offices? Do not the Canadian regulators have any shame?

    October 7, 2020 - 9:29 PM

  • H

    I lost nearly $20k due to this scam,blatantly false reporting by seemingly reputable news outlets. Giga , Pratima and the organizations involved need to be investigated to the fullest!

    October 7, 2020 - 10:01 PM

    • Sean Italiane

      In the same boat. This is why the rich get richer, and people like me have to work until our bodies can’t anymore.

      October 13, 2020 - 4:40 PM

      • Peter Clausi

        Then make some noise. Call the OSC, the BCSC, IIROC, TSXV, your MP … someone has to care enough to investigate this.

        October 13, 2020 - 6:19 PM

    • Paul

      You should join us by filing a complaint to BCSC , as a first step. If we don’t achieve satisfactory result, we move on to the next step of conducting a lawsuit together. Godspeed.

      November 20, 2020 - 7:01 PM

  • Jack P Lifton

    Peter, Your righteous anger is appreciated. In the U.S. we seem to have more fraud prosecutions for stock swindlers, but, its really the same as you have noted. A few bad big boys get prosecuted. Most are just fined and really just enjoy slightly less of their ill gotten gains. I have one suggestion: Stop calling exploration ventures “junior miners.” Require that any venture using the term “miner” or “mining” must be producing a product commercially. Finally I need to ask if the company in question shouldn’t be named Gaga Metals \?

    October 7, 2020 - 10:07 PM

  • tracy Weslosky

    There is a company I am aware of that does the following – they put out news releases framed to look like real news, when its in fact, created to build the excitement of investors that are new to the markets. I asked 1 person at this company what time the market opened, and they could not answer the question. My point is that if we have people covering the news and writing about it who have never ever traded stock, then they have no understanding of the responsibility they hold. The large media outlets that are reprinting text that has been paid for by the company, written by writers unaware of the consequences of their text and lacking any understanding of compliance is a series I would like to see InvestorIntel.com do more on. Thank you Peter for going places, few dare to go – in part, because they lack your legal background and what? 30+ professional years….in our capital markets.

    And Jack, we would love it if you would write again —- .

    October 8, 2020 - 8:53 AM

  • dee

    Why does no one talk about the short period that Giga metals had a tesla giga factory posted under their corporate vision webpage?

    October 8, 2020 - 11:53 PM

    • Peter Clausi

      Dee, I heard about that picture of the Tesla factory being posted at Giga’s website, but I didn’t see it myself and couldn’t verify the fact. Everything else in the story is a verifiable fact, including the fact the regulators have been invisible.

      October 9, 2020 - 10:17 AM

  • Louis-Antoine Larose

    You can find the tesla giga factory picture on Giga metals website via the web.archives.org:


    You must be patient, the website is very slow to fetch the archived data. Takes a while to load.
    If that may help in any ways…

    October 9, 2020 - 11:38 AM

    • Alexandra

      Thank you for confirming what I didn’t want to believe. For many Canadian investors, this feels like another Namaste misadventure. Your question on “Was Giga ever in discussions with Tesla as alleged in Desai’s article?”, would it be “legal” to take the path of least resistance and directly ask Mr. Musk via his only communication channel whether or not this took place? A bold move to quickly get to the bottom of this B.S.!

      October 13, 2020 - 6:12 PM

      • Peter Clausi

        That would be great. I wonder if he’ll give a substantive answer or a weasel one.

        October 13, 2020 - 6:18 PM

  • Martin

    Even with this news their stock still sits at .88 and buyers, I don’t get it.

    October 9, 2020 - 1:09 PM

  • Bridget

    White-collar crime goes largely unpunished in this country. We once had a prime minister receive over $250,000 cash in a paper bag. No pertinent questions were asked except that he eventually had to pay taxes on his “income.” So it goes… I would be very surprised if someone finally persued the obvious criminality here. Good article, and yes, some long-suffering work was involved in the making of this company, so it sucks that so much potential has been tainted in this way.

    October 9, 2020 - 10:54 PM

  • Rob Levesque

    Great article, and still shocking that they could openly sell their stakes…There was a lot of hope in this mine, really disappointed in these guys. The management team should resign at this point.

    October 15, 2020 - 8:31 AM

  • Paul Sinclair

    Thank you Peter for shedding the light on Giga Metals insiders and manipulation! It is highly appreciated! I am among the public shareholders victims, I am suffering an up to date loss of over $8,000.00! I thought I should take ownership for my losses. However, due to Giga &Tesla deal false rumor, many of us were inclined to buy shares within ten minutes time frame, without taking in account the fundamentals and the company metrics to figure out whether it was a sound investment or not! Under these extenuating circumstances, the parties of Giga Metals, including the insiders who illegally exercised options based on the engineered inside information during Friday and gaining a huge profit without any regard neither any compassion for the innocent shareholders! It is a crime, theft, and violation of investments Act! Those parties should be held accountable for misleading innocent investors! In the name of all innocent shareholders, we collectively need to conduct a law suit against the management of this company and would like to know all the necessary steps to be taken towards BC Security Commission.
    Warmest and Kindest Regards
    Paul Sinclair

    October 19, 2020 - 5:58 PM

    • Peter Clausi

      Hi, Paul. Note that I don’t know or claim to know who the criminals were. That’s why we need someone to actually investigate this.

      October 19, 2020 - 6:09 PM

  • Wei Qian

    I fully support the litigation against all those cheaters!!!

    October 20, 2020 - 1:02 AM

    • Peter Clausi

      Absolutely. The market demands an investigation by someone to identify and punish the criminals here.

      October 20, 2020 - 11:05 AM

  • NIck

    Manganese X rode a similar wave with similar gains at the same time. Their Chief Finance officer sold sold sold, and then was replaced days later. Strange, that.

    October 26, 2020 - 5:47 AM

    • Peter Clausi

      I don’t see that happening at Giga. The Chair is the one who did most of the selling, taking $6M out of the market on the problematic news supported by Reuters.

      October 26, 2020 - 9:22 AM

  • Paul Sinclaie

    Dear Peter
    Thank you for shedding a light about the unprecedented Giga Metals Scam. I was obligated to file a complaint to British Columbia Securities Commission(BCSC) explaining the circumstances of my losses, due to the False Giga &Tesla deal rumor and joined all necessary supporting documents justifying my losses. I invite all my fellow investors who suffered a huge loss, due to this scam to file a complaint to BCSC with supporting documents to justify their losses. The more the better to make our voices heard and get compensated for our losses! Justice will prevail. And good luck to all my fellow investors who got hammered and scammed by these corrupt insiders who will be prosecuted for their crime!

    November 12, 2020 - 5:29 PM

    • Peter Clausi

      I agree, with one small caveat. There is the possibility the selling insiders were just as surprised as the rest of the world by the article, but were happy to take advantage of the price spike to offload stock.

      November 12, 2020 - 6:01 PM

      • Rob Levesque

        They fn moved pretty fast, and in advance. So BS on that theory.

        November 12, 2020 - 9:12 PM

    • Sorin

      Could you please upload the main body of text ? I can change whatever doesn’t apply in my case. I wrote to SEC a long mssg. not knowing at that time about BCSC .
      Went in @1.40 few days after sept. 11th. found out about the scam in oct. , sold @0.45$, lost 4.5k.

      November 13, 2020 - 10:06 PM

  • Paul Sinclair

    I don’t believe not even a shred of what you said! It sounds like nobody is responsible for what happened! Everybody is plaiding ignorance and playing the blind eye and there’s nothing to be done for the victimized investors! Someone must be held accountable for the chaos created and the regulators have the duty to do their job to prosecute the criminals! Very disappointing response, to say the least!

    November 12, 2020 - 8:39 PM

    • Peter Clausi

      Look, somebody is the bad guy here. The BCSC is most properly suited to investigate this. The more people that complain, the better. So complain to them!!!!

      November 12, 2020 - 9:11 PM

    • Peter Clausi

      As time passes more people are contacting me with information. I’m almost positive an BCSC investigation is underway.

      November 13, 2020 - 1:14 PM

    • Sorin

      I think the most incriminating evidence would be that gigafactory pic uploaded and then taken off the site. And of course their text messages and calls between them all; also between them (the 5 insiders) and that pos reuters editor could be investigated we may find the gold there. That editor should be sued also or reuters itself . E. Musk could help a lot too. Can’t trust any news articles any longer. Not even comments. The new SEC leadership may look into this particular scam and other frauds, change the insider trading rules for the better.

      November 13, 2020 - 10:15 PM

  • MROW

    That piece of shirt article writer and whoever paid him should be sued

    November 13, 2020 - 1:05 PM

    • Peter Clausi

      To be clear, you mean Ms. Desai, the author of the September 10 article that Reuters distributed, correct?

      November 13, 2020 - 1:13 PM

  • Bridget

    It’s very easy to submit a complaint form. I did one a few weeks ago and would encourage others to do so as well or this fraudulent behaviour will continue to be overlooked. For what it is worth, the BCSC replied almost right away and gave me a case/event number. https://ca.research.net/r/bcsc-complaint-form

    November 13, 2020 - 1:40 PM

  • Paul Sinclair

    Sorry, Peter, if I were tense in my previous response! I am hopeful you understand how painful for us, innocent investors, to be screwed by these criminals! I totally trust the fact that BCSC are initiating investigations. We should rely on their integrity and professionalism to take all the necessary measures to bring to light the engineered crime leading to violation of the securities Act. We have to collectively address our concerns to the authorities. And the more of us the better to demonstrate the scale of this organized crime and the gravity of the situation! If needed, we should designate the same lawyer based on contingency fee, a percentage of our retrieved money, not to mention the fact we claim a compensation for the stress and the psychological repercussions we are suffering as a result of this criminal act! Thank you, Peter, for such wonderful article that constitutes a tangible evidence by itself! We believe in the BCSC’s effort deployed. Justice will be served and the criminals will be prosecuted. Godspeed!

    November 14, 2020 - 3:39 AM

    • Peter Clausi

      You have every right to be angry. Someone cheated the market and the arm’s length shareholders. For restitution your best bet is probably a class action lawsuit.

      November 14, 2020 - 9:51 AM

  • Paul Sinclair

    Thank you Peter! We, victimized investors, will take all the necessary measure to bring our cas to the Supreme Court of Canada, if necessary! We are waiting for the BCSC’s decision before conducting lawsuit. Justice will prevail.

    November 14, 2020 - 1:47 PM

  • Paul Sinclair

    ccording to Sorin, one of the concerned investors :


    November 13, 2020 – 10:15 PM

    The insider trading rules should be under permanent scrutiny to prevent potential future abuse! Insiders in that regard are accountable for violating the securities Act and should be reprimanded and prosecuted. We, victimized investors under these extenuating circumstances, should retrieve not only our lost money, but we claim compensation for the distress and the psychological repercussions we are still suffering, as a result of this engineered “fake giga Tesla deal!”

    We rely totally on Justice and BCSC integrity and professionalism to conduct compulsory investigations to bring to light Giga Metals Criminal Act. Justice will prevail and Godspeed!

    Thank you for your assistance and cooperation and I look forward to hearing from you soon.

    Paul Sinclair

    November 13, 2020 – 10:15 PM
    ccording to Sorin, one of the concerned investors :


    November 13, 2020 – 10:15 PM

    The insider trading rules should be under permanent scrutiny to prevent potential future abuse! Insiders in that regard are accountable for violating the securities Act and should be reprimanded and prosecuted. We, victimized investors under these extenuating circumstances, should retrieve not only our lost money, but we claim compensation for the distress and the psychological repercussions we are still suffering, as a result of this engineered “fake giga Tesla deal!”

    We rely totally on Justice and BCSC integrity and professionalism to conduct compulsory investigations to bring to light Giga Metals Criminal Act. Justice will prevail and Godspeed!

    Thank you for your assistance and cooperation and I look forward to hearing from you soon.

    Paul Sinclair

    November 13, 2020 – 10:15 PM

    November 14, 2020 - 2:40 PM

    • Sorin

      Paul, Thank you, i filed it with BCSC on nov. 13th. I hope that everyone got out of their position. It’s trading @0.40$, should be 1penny.

      November 20, 2020 - 1:51 PM

      • Paul

        Thank you Sorin. The more of us the better! BCSC should demonstrate integrity in taking ownership of the investigation process to determine who is accountable for such insidious manipulation, from the engineered fake news “Giga Metals & Tesla ” deal article to exercising options based on inside information depleting, as a result, all innocent investors hard earned money!
        I am hopeful all victimized investors file a complaint to BCSC, as a first step. We totally rely on BCSC’s integrity to bring the fraudsters to justice and help us retrieve our lost money in a civilized manner so that we don’t have to collectively conduct a lawsuit. The more of us the better! Justice will prevail. Godspeed.

        November 20, 2020 - 6:50 PM

  • Anthony

    GIGA produces nothing but lies and deception; I too read the Reuters article then and witnessed that “GIGA” Tesla factory on their corporate website and figured it had to be a sure thing especially with battery day upcoming at that time. Lost my shirt.

    Fraudulent and false advertising, no? Who else filed complaints to the OSC?
    Pratima Desai, Reuters and insiders need to provide some reasoning now.

    November 20, 2020 - 1:00 PM

    • Peter Clausi

      More complaints to the BCSC can only help.

      November 20, 2020 - 1:40 PM

    • Paul Sinclair

      I could not agree more!
      I lost $10,450.00, due to the fabricated false deal with Tesla! I filed a claim to BCSC and still waiting for their decision, prior to conducting lawsuit against giga metals insiders and management. We need to combine our effort together to designate a contingency fee lawyer to retrieve our losses and claim compensation for the psychological harm their violation of Securities Act has caused us. And the more of us the better!

      November 20, 2020 - 4:45 PM

  • Paul Sinclair

    Is there any contingency fee lawyer willing to represent us, all victimized investors, against the ongoing Giga Metals Fraud? The evidence justifying the violation of securities Act is so flagrant that the BCSC cannot keep making the blind eye! We still believe in Justice to help us retrieve our lost hard earned money. Among us there are retirees, including my self!
    Thank you for your prompt response and your help for that crucial matter would be highly appreciated!

    November 20, 2020 - 5:06 PM

    • Peter Clausi

      There are specialized class action lawyers in BC.

      November 20, 2020 - 5:07 PM

  • Paul

    Thank you, Peter, for your dedication and your prompt response. It is highly appreciated! We are waiting for BCSC’s feedback before taking further actions, if necessary,

    November 20, 2020 - 6:54 PM

    • Peter Clausi

      And don’t forget the role of the dismal PEA played in this.

      November 20, 2020 - 6:56 PM

  • Paul

    I have published a letter through Unpublished Ottawa, as follows:

    To Whom It May Concern:

    This letter is to draw authorities’ attention on the unprecedented number of victimized investors, due to Giga Metals insidious scam to rip off investors, including myself!

    To shed a light on Giga Metals’ Engineered Plan of the False “Giga Metals &Tesla”
    Deal, the management team seemed to know already about the article before even being reprinted by Globe and Mail on September 11, 2020. The Globe and Reuters, according to Peter Clausi, have a controlling shareholder in common so the reprint was normal course! And the management team exercised options, at a least a week prior, by gaining a huge profit at the expense of honest investors!

    Here is enclosed, as a file attachment, the evidence of detailed transactions written by Mr. Clausi, an experienced investment banker, director and shareholder activist, and a graduate of Osgoode Hall Law School called to Ontario’s bar in 1990, …

    Due to the False article written by an obscure journalist named Pratima Desai, distributed with the credibility of Reuters behind her on September 10, 2020, alleging Giga was in discussions with Tesla Motors “…about helping to develop a large mine that would give Tesla, the electric carmaker access to low carbon nickel for its batteries, three sources familiar with the matter said”.

    As other victimized investors, believing it was a lifetime opportunity, based on this article, I jumped on the occasion:

    1.September 14, 2020: My major loss was the initial purchase of 6000 shares at $2.00 a share, following the fake news Giga metals & Tesla deal!
    2. September 16, 2020: My second loss was the purchase of additional 2377 shares at $1.73 a share to lower the dollar cost averaging, waiting for the ” Giga metals &Tesla deal” to materialize!
    3. September 21, 2020: My third loss was the purchase of additional 2555 shares at $0.80 a share, as the share price keeps dropping, to lower the dollar cost averaging and yet no news for the miracle deal!

    In Total, I have purchased 10, 927 Giga Metals Shares for a Total Amount of $18,182.06 and yet , to my extreme disappointment, no news for the “miracle deal “and the share price keeps dropping, whereas the insiders realized huge profits through exercising options based on inside information at the expense of innocent shareholders, including myself! I was completely devastated for what happened to me! I thought I must shoulder the losses, but according to the media, it was a total engineered scam to reap off innocent investors!

    As of October 1st, out of hope and realizing I was scammed, I started to progressively sell these shares at a huge loss to avoid losing all my invested money!
    In total, I received $7,726.80 and suffered a loss of -$10,455.26

    Consequently, I filed a complaint to British Columbia Securities Commission and joined the certified documents to justify my losses!

    We, victimized investors, rely on Justice for our voice to be heard and be compensated for the losses we have suffered, not to mention the psychological repercussions we are going through ever since! What is harmful, there are retirees including myself who found themselves depleted from their hardly earned money by criminal insiders, without any regard neither any compassion for victimized investors!

    We, victimized investors, are still waiting for a tangible response from BCSC and believe they are not going to turn a blind eye on this unprecedented fraud!

    Under these extenuating circumstances, we ask all the victimized investors to join us for the sake of pushing authorities to take a total ownership in conducting a thorough investigation to designate and prosecute the guilty criminals

    We intend to file a lawsuit and are desperate for specialized contingency lawyers willing to take in charge our case. We believe in justice to take its course and our voice to be heard!

    I would like to take the time to sincerely thank Unpublished Ottawa for taking the time to publish my concern and I look forward to hearing from any potential lawyer who is willing to take our case based on contingency fee, a percent of the amount retrieved to be negotiated.

    Respectfully Yours,

    Paul Sinclair
    Retired Math Teacher, Vancouver School Board
    Website explaining Giga Metals Scam

    November 23, 2020 - 1:28 AM

    • Peter Clausi

      I’m glad you went directly to the BCSC. Everyone who feels stung by this series of events should complain, loudly!

      November 23, 2020 - 9:18 AM

  • Paul Sinclair

    Dear Peter
    We, victimized investors, cannot thank you enough for your support!
    My complaint campaign, inviting concerned investors to join us un the battle, is being published on Unpublished Ottawa website!
    Kindest and warmest regards

    November 23, 2020 - 1:19 PM

  • Sorin

    Q: How can we inform other investors about this ? I’m fairly new to investing (9months) , i did search on stocktwits for hnckf in order to find others , but the stock (thankfully)is not listed there. Also did a google search but no results other then this website and many
    different postings of that false article back in September.
    Thank you

    November 23, 2020 - 8:51 PM

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