EDITOR: | October 7th, 2020 | 134 Comments

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

| October 07, 2020 | 134 Comments
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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.


Editor:

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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Comments

  • 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

    • Robert Esaw

      You don’t think these guys off’d their Communications Director to keep him quiet? Sounds stupid and I mostly jest, at the risk of being horribly insensitive. But with ten million dollars take, people have done worse.
      https://www.newsfilecorp.com/release/68765

      December 29, 2020 - 1:09 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

        If you are in the same boat, Sean, try to join us and get involved in the process to avoid boat sinking! I have no problem for the rich to get richer provided it’s not happening at the detriment of innocent investors!

        December 18, 2020 - 2:53 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

      • Rob

        FYI thanks for the suggestion. I filed a complaint using their online form. It’s been two weeks and no confirmation email or other response…

        December 14, 2020 - 4:22 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:

    https://web.archive.org/web/20200901082718/https://www.gigametals.com/corporate/corporate-vision/

    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

      • Paul

        Alexandra, I tried using Press@elonmusk.com and elonmusk@teslamotors.com but, unfortunately, I have not received any feedback about giga metals & Tesla deal! Not to mention the fact it’s virtually impossible to access Elon Musk’s personal email address!
        I am expecting more involvement from the part of scammed investors who want to retrieve their lost money! It is unfortunate! I am just waiting for BCSC’ s decision before taking my personal further steps if nobody is willing to join me for a Class Action Lawsuit!
        Cheers
        Paul

        December 18, 2020 - 1:21 PM

        • Peter Clausi

          I would expect Tesla is keeping its head down, unless it’s forced by a regulator or a lawsuit to say something.

          December 18, 2020 - 1:28 PM

          • Paul

            I could not agree more, Peter! Hopefully, BCSC will be contacting Tesla or whoever in charge, if it’s not Elon Musk, to seek the truth!

            December 18, 2020 - 2:43 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

      • Rob

        Excellent!

        December 17, 2020 - 9:50 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
    https://investorintel.com/market-analysis/market-analysis-intel/clausi-on-giga-metals-insiders-riding-the-reuters-tesla-story-and-the-regulators-who-turned-a-blind-eye/#comment-610023

    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
    Paul

    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

    • Paul Sinclair

      Stockhouse.com might be another alternative to reach possible investors victimized by giga metals. Not to mention social platforms such as Facebook and Twitter, to name a few.

      November 24, 2020 - 1:35 AM

  • Paul Sinclair

    Peter,
    Do you have any recommendation in mind for attorneys willing to defend our case, based on contingency fee? If at least ten investors manage to have the same trial lawyer taking in charge the case, it’s going to be a substantial gain for his or her work! What about yourself? Aren’t you an attorney, too?
    Thank you for responding!

    November 24, 2020 - 3:19 PM

  • Paul Sinclair

    Unfortunately, my open letter written on “Unpublished Ottawa” website was rejected! Meanwhile, I filed my complaint with OSC this morning, as well. If you have other suggestions, please let me know. I haven’t received any feedback from BCSC, We, all concerned investors, need to organize ourselves together to initiate the process of finding a suitable contingency attorney willing to defend our case. Whoever found one first should let the others know! Thank you all!

    November 24, 2020 - 5:26 PM

  • Paul Sinclair

    For your information, I filed a complaint with IROC as well! We need to get organized, guys. It is a serious matter and the prosecuted criminals have to pay the cost for their insidious crime!
    Thank you for your cooperation.

    November 24, 2020 - 6:26 PM

    • Peter Clausi

      I’m glad you did that. But don’t hold your breath on a worthwhile remedy from IIROC. They have the power to punish companies, not really individual insiders. The British Columbia Securities Commission is the best bet to do something. It has extraordinary enforcement powers under s. 142 and 143 of the BCSA.

      November 24, 2020 - 8:38 PM

  • Paul Sinclair

    Thank you for your feedback, Peter!
    It is highly appreciated!
    Warmest and kindest regards

    November 24, 2020 - 8:56 PM

  • Sorin

    On FB There is a group for HNCKF giga Metals and it is was created September 30th promoted by an individual name Eric dauster.
    And the comments are off (fishy and a couple of pictures promoting the company with absolutely no mentioning about the scam !! 30members.

    November 24, 2020 - 9:17 PM

    • Peter Clausi

      Interesting. Do you think he’s a real person or that’s a fake name for one of the people involved in the scam?

      November 25, 2020 - 8:24 AM

  • Sorin

    Gm Peter, i didn’t looked into this possibility, will check it out ! He does have a profile pic.

    November 25, 2020 - 8:49 AM

  • Paul Sinclair

    BCSC
    To Whom It May Concern:

    Dear Sir / Dear Madam,

    Without any doubt in my mind, the British Columbia Securities Commission is the most properly suited institution to take ownership in conducting a thorough investigation to determine the criminals involved in this fraud.
    On behalf of all victimized investors, I would like to show my total gratitude for putting the effort to find a tangible remedy without having to take further steps for a lawsuit!

    I am among retirees who found their hard earn money depleted because of this peculiar incident! We totally believed Desai’s story and found it a lifetime opportunity to purchase stock at inflated prices! And under normal circumstances, I personally wouldn’t have put a dime on this unknown company!

    We, victimized investors, would like to start moving on in our lives and sleeping peacefully at night knowing beforehand the BCSC is going to take care of us and Justice will be served!
    I sincerely cannot thank you enough for the hard work you are doing to defend investors’ fundamental rights and prosecute the fraudsters directly or indirectly involved in this scam!

    My kindest and warmest regards

    Paul Sinclair

    November 25, 2020 - 5:12 PM

  • Shareholders suffer on Reuters Anonymous Tesla tip while Insiders Hit the Lottery ~ Trump Hates Sports

    […] The background facts, together with a chart showing the insiders’ staggering profits, are here. The only question is, who was the criminal. There are only three possible […]

    November 29, 2020 - 6:20 PM

  • Paul Sinclair

    Please let me know if anyone received a feedback from BCSC.
    THANK YOU

    December 1, 2020 - 2:20 PM

  • H

    “In addition, Crown is pleased to announce the appointment of Martin Vydra as an independent non-executive Director of the Company, effective immediately.”
    Article: Crown Mining Announces Plans for Name Change to US Copper Corp

    https://www.juniorminingnetwork.com/junior-miner-news/press-releases/1457-tsx-venture/cwm/88540-crown-mining-announces-plans-for-name-change-to-us-copper-corp.html

    December 2, 2020 - 1:41 AM

  • Paul

    Surprisingly, all my comments and articles related to my complaint against Giga Metals fraudulent activities published on stockhouse.com website were totally removed and my reputation was downgraded to zero for the simple reason I expressed my concern about this company and defended my fundamental rights, as a victimized investor, to prevent other people from being cheated and ripped off! Do you think it is fair for the website to shut me off and reduce me to silence or there’s a conflict of interests? Your opinion matters to me. Thank you!

    December 2, 2020 - 1:21 PM

    • Peter Clausi

      No, but I’m a free speech and education advocate.

      December 2, 2020 - 1:42 PM

      • Andrew

        I filed a complaint yet still no response from BCSC. Do they normally take months?

        However I only invested $1000.00 so I don’t think any lawyer would take that seriously.

        December 15, 2020 - 10:53 AM

  • Paul Sinclair

    Hello
    I am in the process of finding a Class Action Contingency Securities lawyer willing to take charge of a group of scammed investors. The more of us the better to designate the same attorney for a very successful lawsuit. I will let you know about the attorney we should be collectively dealing with.
    Warmest and kindest regards
    Paul Sinclair

    December 10, 2020 - 7:56 PM

    • Peter Clausi

      I thoroughly support that idea. Someone in this tale caused real people to lose millions of dollars. I’d rather it be the BCSC, but if it has to class action litigators then use that tool.

      December 10, 2020 - 8:01 PM

      • Sorin

        Another great article written at that time by Chris Perry :https://equity.guru/2020/09/18/reuters-journalist-pratima-desai-sets-giga-metals-giga-v-run-insider-sell-off-fake-story/amp/?__twitter_impression=true

        Found this earlier by googling.Also a very usefull, deleted tweet that I have the screenshot of:
        https://ibb.co/BK2jdMs
        https://ibb.co/yQ2bHvy

        December 17, 2020 - 2:48 PM

      • Paul

        Dear Fellow investors/ Dear Peter
        Sorry for being absent for quite sometime, due to hardship I am facing because of my wife’s state of health(Crohn’s disease & surgery)
        As of today, January 22, 2021 around 3:00 pm, I have received a call from BCSC representative. To my extreme disappointment, it seems that they don’t have enough “evidence” to prosecute Giga Metals insiders for the crime they have committed! BCSC, for some obvious reasons, don’t seem to care about our loss nor about the hardship we are facing whereas criminals continue to get richer at the expense of innocent investors and tax payers. Under these extenuating circumstances, the only way for us to retrieve our losses is to unite as a team and conduct a Class Action Lawsuit against Giga Metals using together the same attorney I found who seems to be interested to take charge of our case. The Attorney ‘s coordinates are mentioned above( my previous comment). The more of us the better to be in a position to negotiate better terms for both parties: Us as a group and the attorney Lewis. Please let me know ASAP to initiate the process together as a group.
        God bless us all in this extremely difficult time! Godspeed.
        To facilitate your research, the following is the lawyer I am talking about. Should you have another proposal please do not hesitate to let me know. Keep in mind the more of us the better. Thank you!

        <>

        January 22, 2021 - 7:40 PM

  • Paul Sinclair

    Thank you, Peter

    December 10, 2020 - 8:14 PM

  • Sorin

    I didn’t get a response from BCSC. Paul , i’m all in. Thank you for the making the time to get this done and finding a good lawyer .It will help many once this is revealed(that there is a class action suit). Every now and then I search to see what is this Hnckf stock present value and I can’t wait for it to be just one penny , or 0.0001$, now it’s still $.40.

    December 10, 2020 - 10:31 PM

  • Paul

    Thank you, Sorin, for your response! I still did not receive any feedback from BCSC. They must be having many cases to take care of. BCSC is the only institution I can possibly trust. I have no hope for the others who seem to turn a blind eye because of too much work involved! It is sad that the innocent victims are not helped that much nowadays! I am working hard to find a reliable law firm willing to take a Class Action for our group. For the time being, there’s one that seems to be interested in our case. Here is the detail as follows:

    <>

    Sorin, What do you think about this Firm?
    Ideally, every concerned investor should contact this Firm. The more of us, the better deal we can have from this Firm! It becomes more appealing for the Attorney Lewis to take charge of a group to conduct a Class Action lawsuit related to the same fraudulent company. I suggest all concerned investors to send a motivated request explaining the circumstances of the scam. You specify that you are joining me for lawsuit. And hopefully, we achieve a better deal in terms of 10% upfront payment. Please, let me know how it went? Up to now, I could not find a lawyer based on contingency Fee only!
    Good luck to all of us on our research.
    Godspeed
    Paul Sinclair

    December 14, 2020 - 9:00 PM

    • Sorin

      Hello Paul, His reply sounds quite professional , now I have to Google them to see some reviews and let’s see what the others think about this also ?
      But I do wonder if we find a Canadian law firm wouldn’t be faster for them to recover funds since it is in the same jurisdiction ?

      December 15, 2020 - 10:08 AM

      • Paul Sinclair

        Did you do your research on this Law Firm? I personally don’t rely on biased reviews. Better Business Bureau might be a safer alternative to figure out the degree of liability of any company. We need to learn from our mistakes by not relying on fake reviews or news anymore! We are living in a very difficult time and I am sincerely worried about my kids’ future and al the brainwashed millenials by the corrupt socialist education system, to say the least!

        December 18, 2020 - 4:51 PM

      • Paul Sinclair

        Hello Sorin
        There are already two of us who communicate through our emails to initiate the Class Action Lawsuit. If you are determined to join us, all you have to do is to keep in touch with our designated lawyer Lewis and he will give you our coordinates so that we conduct the lawsuit privately.
        Everybody else is welcome to join the battle. The more of us the better and the sooner the better
        Good luck!
        Paul Sinclair

        January 28, 2021 - 5:34 PM

  • Paul

    lewis Klien
    5:29 AM (12 hours ago)
    to me

    Unfortunately we do not work on the structure you would like.

    As per our conversation, this is the process we take in order to recover stolen funds by unregulated trading companies,

    1. We will first take a claim with your bank to prove to them where your money went.
    2. We take a claim with the ombudsman regarding the same thing.
    3. We check the companies banking funnels ie. where they sent the money normally to Belize, Cayman Islands or Switzerland.
    4. We take a claim with the prepossessing company that was involved in processing your DC.
    5. We take a fraud claim against company owners if needed, a lot of cases don’t need this, this normally gets you a settlement.

    The fee for your case is 10% upfront, this is to pay for all the legal documents and time that’s going to go into fighting your case.

    Once we have successfully recovered these funds for you and they are already back in your bank you pay us a commission of 5% on the total amount were able to recover.

    I must let you know a case could take up to 6 months due to the amount of bureaucracy back and forth.

    Let me know what you would like to do.

    Kind Regards


    Regards, Lewis W Klien

    Email: Lewis@payback-law.com

    Toll Free: 1-855-922-2961
    Office IL: 03-309-5410
    US: 17868711161
    UK: 44-2039666012
    AUS: 61-863654977
    EXT: 19

    Headquarters-Ben Gurion 38, Ramat Gan, IL

    USA Branch
    Florida-4051 SW 47th Avenue
    Suite 101
    Fort Lauderdale, FL 33314

    to lewis

    Thank you, Lewis, for your prompt response. I am currently dealing with Canadian law firms and certainly deal with the one that helps me achieve the maximum success. Should any need arise, with respect to other offers, to deal with you I won’t hesitate to contact you.

    Warmest and kindest regards

    December 14, 2020 - 9:04 PM

  • Paul Sinclair

    Dear fellow patriot investors,
    We have to stick together during this difficult time. I am striving to find the best solution for all of us. My heart is with you all, although I do not respond individually to your request.
    God bless us all.
    Paul

    December 15, 2020 - 10:38 AM

  • Paul Sinclair

    Hello, patriots
    Depending on the number of investors who are willing to get get involved in the Class Action Lawsuit and provided we cannot find a better deal elsewhere, we might be in a position to negotiate, based on 5% upfront and 10% after receiving our lost money, as opposed to Lewis’s proposal; which is fair. What do you think?
    Paul

    December 15, 2020 - 10:49 AM

    • Ted

      I agree, it would be great if we can have someone represent us that is in Canada. I also fee we need to see what kind of total losses as a group we have endured. If the amount as group is small in the eyes of the law firm we might be at a challenge in just getting representation. I’m in the 8K range.

      December 15, 2020 - 3:07 PM

      • Paul Sinclair

        Hello Ted,
        I could not agree more. The more of us the better. How many people are going to follow us, Sorin, you, and I? I am expecting at least ten of us to initiate the same Class Action Lawsuit. Based on that, it might be possible for each of us to pay 5% upfront only of our lost money and 10% thereafter after receiving our money in our bank account. Under the circumstances, I think it’s a good deal for both parties.
        However, after my research, had we decided to take a contingency road, the involved attorney would take a big cut of our list money, up to 50% plus the administrative fee; which is a total rip-off! What do you think?
        Thanks for responding!
        Paul

        December 17, 2020 - 2:11 AM

        • Ted Martin

          Hi Paul,
          Yes I agree 50% doesn’t even come close to a consideration. I’m reading communications below and a bit confused on your post of 12/17/20 4:39PM I’ll read again and comment.
          Ted

          December 18, 2020 - 10:44 AM

        • Paul Sinclair

          To dissipate any possible confusion. “Both parties” stands for us, as a group, and the Law Firm we will be dealing with. For the time being, we wait for the BCSC decision prior to conducting a Class Action Lawsuit.
          Best regards
          Paul

          December 18, 2020 - 11:28 AM

  • Paul Sinclair

    Hello, patriots
    We, concerned investors, should not forget to sincerely show our profound gratitude to Peter Clausi for deploying his effort and displaying integrity and honesty in writing his wonderful article that contributed to strengthening our solidarity and determination to seek justice for all of us!
    Thank you, Peter, for your great job!
    Godspeed
    Paul

    December 15, 2020 - 11:12 AM

  • Sorin

    Want to update everyone that as long as you have an event id with the BCSC , this is being looked at by them.
    They have a inquiry officer in the first stage and then they forward that to an investigator or other dept. ; so right now I had just found out that there was an email from a few weeks ago from them , where they were asking me for more information but they told me that even without that information ( I wanted to send a screenshot of the Tesla giga factory photo on the giga metals website !) they had still forwarded my case to an investigator . I had just spoke with them (I had talked with Karen , intake officer BCSC).
    I also mentioned that there are other people that were scammed by this company and she said that they have their attention for each individual case because each case is different.
    Anyone who hasn’t filed a complaint with this agency please do so because they will follow up with the legal procedures , it may take some time but I think we are in good hands.

    btw-I am still on to join the law suit that we’ve talked about earlier.
    Also ,please search for “bcsc” in your email inbox , you may have missed their response just like i did. They replied to me on Nov. 19th ! I filed on the 12th or 13th, Not sure exactly because the sent message went through their system(no way to have a record of it unless i had taken a screenshot) ; that was another issue I talked about with them because I was trying to find out what other information I told them that I will be sending .

    I also sent them the decieving reuters article link and the exposing article that Peter Sinclair wrote , hopefully those will be a valuable info in completing this puzzle.

    December 17, 2020 - 1:27 PM

    • Sorin

      Peter Clausi , sorry for the name inversion ! Can’t edit it and change it now .

      December 17, 2020 - 1:30 PM

    • Paul

      Sorry, you confused me with Peter Clausi!
      Our sincere apologies for the inconvenience it may have caused him!

      December 17, 2020 - 7:51 PM

  • Paul

    I invited investors from stockhouse.com to join us to conduct a Class Action Lawsuit together, as follows:
    Reads
    Post# 32130759
    Join us at the Website bellow for a Class Action Lawsuit!
    Clausi on Giga Metals insiders riding the Reuters’ Tesla story and the regulators who turned a blind eye (investorintel.com)

    Dear Fellow Investors:

    A message to innocent investors who got scammed by fake “Giga &Tesla” deal!

    Please follow us at the website mentioned above. We are in the process of conducting a Class Action Lawsuit against Giga Metals management in order to retrieve our lost money!

    The more of us to get involved in the same Class Action the better deal we can achieve from the designated Law Firm!

    It is high time to stick together, as a group, to achieve a very satisfactory result in making our claim very sound and based on concrete evidence. We cannot let those criminal insiders get away with their fraud, without being prosecuted and paying the cost for their crime!

    Rule1: Click on the website mentioned above and scroll down to the comments
    Rule2: Fill up the given form to express your case and tangible circumstances for your loss.
    Rule3: Do not give your personal information, under any circumstances!
    Rule4: Look at the proposal offered by a Law Firm that I found personally.
    Rule5: You stipulate in your comment whether you wish to deal with this Firm or not.
    Rule6: If you have a Law Firm at your disposal that offers a better deal, please let us know.
    Rule7: Keep in mind, the bigger is our group, the better deal we can possibly achieve!
    GOOD LUCK TO ALL OF US AND JUSTICE WILL PREVAIL!

    Warmest and Kindest Regards
    PS

    December 17, 2020 - 4:39 PM

    • Paul

      Ted, This post was meant for stockhouse.com investors who got scammed also by the fraudulent giga metals. I have posted it here to let you know about the steps I am taking to attract more investors for conducting a Class Action Lawsuit. Hopefully, we won’t have to take further steps if we achieve satisfactory results from BCSC. All I know is that the investigation process is taking it course. BCSC is the most powerful and reliable institution we can rely on. Godspeed!

      December 18, 2020 - 11:56 AM

      • James

        Thank you

        January 1, 2021 - 5:16 PM

  • Paul

    Thank you, Sorin, for the valuable information. It is highly appreciated by all of us! I will have to check my spam that I have a tendency to delete automatically! If I can’t find any recent message from BCSC, I will have to contact them for an update! We are getting there, my friend and good luck to all of us. I let a comment about the contingency road. It is indeed very costly! Do you have any Law Firm in mind with a better offer? Please, let us know.
    I am also very confident about the British Columbia Securities Commission. Godspeed!

    December 17, 2020 - 5:41 PM

  • Paul Sinclair

    To dissipate any possible confusion. “Both parties” stands for us, as a group, and the Law Firm we will be dealing with. For the time being, we wait for the BCSC decision prior to conducting a Class Action Lawsuit.
    Best regards
    Paul

    December 18, 2020 - 11:29 AM

    • Rob

      Finally got a response from BCSC:

      Thank you for contacting the British Columbia Securities Commission (BCSC) about GIGA Metals Corporation.

      Your information is important to us.

      The BCSC investigates to enforce compliance with the Securities Act and to sanction securities market misconduct. We also refer and forward information to other regulatory jurisdictions, or self-regulatory bodies, when appropriate. Please note that not all reviews result in an investigation or a public sanction.

      The BCSC does not comment on an investigation unless it becomes a matter of public record, so that:

      · we protect the integrity of investigations
      · we ensure the review process is not used to affect the market, and
      · we maintain fairness to those who may be the subject of a review that does not result in an investigation or sanction

      We appreciate you sending this information to us. If you have additional information you wish to add, please contact our Inquiries Group in Vancouver at (604) 899-6854 or toll free 1-800-373-6393 or email inquiries@bcsc.bc.ca

      December 18, 2020 - 6:40 PM

      • Sorin

        That’s the standard message that they send after receiving the information about the complaint ; that means that they had received your information and now they’re a forwarding to the appropriate team for investigating it. I got this message in November 19 and so far I haven’t received anything else , we just need patience.

        December 19, 2020 - 1:55 PM

      • Paul Sinclair

        Rob, it is a standard response that I have received two months ago. It does not reflect any concrete decision nor any sanction against the fraudulent giga metals. We are still waiting for a positive outcome otherwise we will have to collectively conduct a Class Action Lawsuit to retrieve our lost money. We live in an era where corruption and mediocrity are taking a lead at the expense of honesty, hard work and excellence in every single aspect of human lives and only innocent people will suffer! Look what’s happening in US. All the elites
        of Chinese Communist regime and high tech companies(Corrupt Facebook for instance), conflict of interest oblige, spent huge amounts of money to select the corrupt Biden as a pawn on a chess game in the “white house” in order for him to adhere to their rules and work on their terms. Leftist ideology subversion, through identity politics, is destroying our family values and our Western Civilization our dear ancestors strive to build over centuries!

        December 19, 2020 - 2:07 PM

  • Paul

    Ted, This post was meant for stockhouse.com investors who got scammed also by the fraudulent giga metals. I have posted it here to let you know about the steps I am taking to attract more investors for conducting a Class Action Lawsuit. Hopefully, we won’t have to take further steps if we achieve satisfactory results from BCSC. All I know is that the investigation process is taking it course. BCSC is the most powerful and reliable institution we can rely on. Godspeed!

    December 18, 2020 - 11:58 AM

  • Paul

    It is unfortunate that the scammed investors at the stockhouse.com are in a Zombie State, still waiting for the miracle to happen, maybe at least five years until this bloody company is taken over through acquisition, whereas those insiders are sitting their fat ass on our hard earned money and producing absolutely nothing! All of them without any exception are held accountable and will pay dearly the cost for their crime!

    December 18, 2020 - 3:08 PM

  • Paul Sinclair

    Did you do your research, Sorin, on this Law Firm? I personally don’t rely on biased reviews. May be Better Business Bureau might be a safer alternative to figure out the degree of liability of any company! We need to learn from our mistakes by not relying on bised reviews or fake news anymore! We are living in a very difficult time and I am sincerely worried about my kids’ future and all the brainwashed millenials by the corrupt socialist education system, to say the least!

    December 18, 2020 - 4:58 PM

    • Sorin

      Paul, i haven’t looked into that law firm. We should all join for a lawsuit sooner rather then later; the BCSC may take some time.

      January 2, 2021 - 11:26 AM

  • David Sedore

    Hello fellow investors.
    I too got scammed. I bought in at the height of the hype. After losing $12,000.00 after the stock fell from my buy in at $1.97 to $1.00 then to $0.55
    A class action suite sounds good but I will tell you my experience. I called their HM department 2 days after I had called my Securities exchange. They said that they were sorry for the miss information but that I should wait as it will come back. (Ya like 5 years I said to the rep) They said no not that long. (Whatever). So I called my Securities Exchange and they said the only way I could go after them was to sell it at a lose then they could go after them. I said then sell the stock right now.
    The call ended and they did not sell my shares. I called back 2 days later and they said there is nothing that can be done.
    So here my friends is my experience talking.
    20 years ago there was a stock called Baffinland Iron Ore Co. I had bought in on rumor before a hostile take over was to occur. Existing owners of the stock were refusing to sell at their offer. Enough of them to get a chanllange going. I sold out and made a very small profit. However the class action law suite went on. And on, and on. I got my legal papers for the suite served to me February this year 2020. Almost 20 years after it was initiated. So just saying it will take a long time. Long time to get to court. Your best bet is to just to sell and move on.
    They are not going to just roll over just because you initiate a class action. Be aware of the sources, of your stock purchases. I learned my lesson again. 20 years later.

    December 28, 2020 - 7:57 PM

    • Paul Sinclair

      Hello David,
      BCSC cannot sell the shares on your behalf!
      What they meant is to sell giga metals shares yourself and send them the transaction documents to justify the exact amount of loss you suffered. It is your responsibility to sell your shares and BCSC cannot do that for you. If you have not filed a complaint with banking documents yet, please do so as soon as possible. We are all still waiting for their decision and depending on the outcome we all receive, in individual basis, we might be in a position to file a Class Action Lawsuit together as a group, choosing the very same attorney. For your reference, look at the lawyer’s US coordinates who is willing to take charge of my personal case and write to him. We might have a better deal working with him together as a group in case we don’t achieve a satisfactory remedy from the BCSC. That is the only way to retrieve our lost money from those bastards! Happy New Year to all of you, fellow investors, and Godspeed!

      January 2, 2021 - 11:41 AM

  • Kyle Berns

    I lost about 2000$, will gladly join the lawsuit and file a complaint on BCSC.

    December 29, 2020 - 3:44 AM

  • Ted

    I assume most have seen this. Due to my lack of experience I’m not sure how this effects the stock or us if at all. If someone can shed some light I’d appreciate it. This was received Dec 31, 2020

    Giga Metals Warrants Not Extended

    2020-12-31 11:22:27 AM ET (Newsfile Corp)

    Vancouver, British Columbia–(Newsfile Corp. – December 31, 2020) – Giga Metals Corporation (TSXV: GIGA) today announced that, further to the press release dated December 21, 2020, the TSX Venture Exchange did not approve the extension of 240,000 warrants with a strike price of $0.70, as requested by the Company. The reason for denying the extension is that, under Policy 4.1 section 3.1(c), there is a requirement that “no Warrants of the class have been exercised within the last six months.” The warrants in question did not meet this condition.

    Options granted

    The Company also announced that, pursuant to its Stock Option Plan, approved by the TSX Venture Exchange, the Company will be granting 5,625,000 stock options to certain Directors, Employees and Consultants, exercisable at $0.52 per share, expiring December 30, 2025. 25% of the options will vest immediately, with an additional 25% vesting on each anniversary after issuance. 100% on the options will vest in the event of a change of control of the Company.
    On behalf of the Board of Directors,
    “Mark Jarvis”

    MARK JARVIS, CEO
    GIGA METALS CORPORATION
    Tel – 604 681 2300

    January 2, 2021 - 12:12 PM

  • Paul

    To facilitate your research, the following represents the coordinates of the lawyer in question. I am opened to any proposal if you happened to find a reliable lawyer located in Vancouver. Please let me know. We should take our destiny at hands and not rely on any institution in this corrupt world! Sorry for being tense, but that is the absolute truth, to say the least! We are alone and on our own!

    << lewis Klien
    5:29 AM (12 hours ago)
    to me(Paul)
    Unfortunately we do not work on the structure you would like.
    As per our conversation, this is the process we take in order to recover stolen funds by unregulated trading companies,
    1. We will first take a claim with your bank to prove to them where your money went.
    2. We take a claim with the ombudsman regarding the same thing.
    3. We check the companies banking funnels ie. where they sent the money normally to Belize, Cayman Islands or Switzerland.
    4. We take a claim with the prepossessing company that was involved in processing your DC.
    5. We take a fraud claim against company owners if needed, a lot of cases don’t need this, this normally gets you a settlement.
    The fee for your case is 10% upfront, this is to pay for all the legal documents and time that’s going to go into fighting your case.
    Once we have successfully recovered these funds for you and they are already back in your bank you pay us a commission of 5% on the total amount were able to recover.
    I must let you know a case could take up to 6 months due to the amount of bureaucracy back and forth.
    Let me know what you would like to do.
    Kind Regards

    Regards, Lewis W Klien
    Email: Lewis@payback-law.com
    Toll Free: 1-855-922-2961
    Office IL: 03-309-5410
    US: 17868711161
    UK: 44-2039666012

    January 22, 2021 - 6:46 PM

  • Paul

    Dear Fellow investors/ Dear Peter
    Sorry for being absent for quite sometime, due to hardship I am facing because of my wife’s state of health(Crohn’s disease & surgery)
    As of today, January 22, 2021 around 3:00 pm, I have received a call from BCSC representative. To my extreme disappointment, it seems that they don’t have enough “evidence” to prosecute Giga Metals insiders for the crime they have committed! BCSC, for some obvious reasons, don’t seem to care about our loss nor about the hardship we are facing whereas criminals continue to get richer at the expense of innocent investors and tax payers. Under these extenuating circumstances, the only way for us to retrieve our losses is to unite as a team and conduct a Class Action Lawsuit against Giga Metals using together the same attorney I found who seems to be interested to take charge of our case. The Attorney ‘s coordinates are mentioned above( my previous comment). The more of us the better to be in a position to negotiate better terms for both parties: Us as a group and the attorney Lewis. Please let me know ASAP to initiate the process together as a group.
    God bless us all in this extremely difficult time! Godspeed.
    JANUARY 22, 2021 – 6:31 PM

    January 22, 2021 - 6:58 PM

  • Paul

    The following, is the lawyer I am dealing with(If you have another proposal, please let me know. Thank you!)
    lewis Klien
    5:29 AM (12 hours ago)
    to me
    Unfortunately we do not work on the structure you would like.
    As per our conversation, this is the process we take in order to recover stolen funds by unregulated trading companies,
    1. We will first take a claim with your bank to prove to them where your money went.
    2. We take a claim with the ombudsman regarding the same thing.
    3. We check the companies banking funnels ie. where they sent the money normally to Belize, Cayman Islands or Switzerland.
    4. We take a claim with the prepossessing company that was involved in processing your DC.
    5. We take a fraud claim against company owners if needed, a lot of cases don’t need this, this normally gets you a settlement.
    The fee for your case is 10% upfront, this is to pay for all the legal documents and time that’s going to go into fighting your case.
    Once we have successfully recovered these funds for you and they are already back in your bank you pay us a commission of 5% on the total amount were able to recover.
    I must let you know a case could take up to 6 months due to the amount of bureaucracy back and forth.
    Let me know what you would like to do.
    Kind Regards

    Regards, Lewis W Klien
    Email: Lewis@payback-law.com
    Toll Free: 1-855-922-2961
    Office IL: 03-309-5410
    US: 17868711161
    UK: 44-2039666012

    January 22, 2021 - 7:03 PM

  • Paul

    Dear Fellow investors/ Dear Peter
    Sorry for being absent for quite sometime, due to hardship I am facing because of my wife’s state of health(Crohn’s disease & surgery)
    As of today, January 22, 2021 around 3:00 pm, I have received a call from BCSC representative. To my extreme disappointment, it seems that they don’t have enough “evidence” to prosecute Giga Metals insiders for the crime they have committed! BCSC, for some obvious reasons, don’t seem to care about our loss nor about the hardship we are facing whereas criminals continue to get richer at the expense of innocent investors and tax payers! Under these extenuating circumstances, the only way for us to retrieve our losses is to unite as a Team and conduct a Class Action Lawsuit against Giga Metals using together the same attorney I found who seems to be interested to take charge of our case. The Attorney ‘s coordinates are mentioned above( my previous comment). The more of us the better to be in a position to negotiate better terms for both parties: Us as a group and the attorney Lewis. Please let me know ASAP to initiate the process together as a group.
    God bless us all in this extremely difficult time! Godspeed.
    To facilitate your research, the following is the lawyer I am talking about. Should you have another proposal please do not hesitate to let me know. Keep in mind the more of us the better. Thank you!

    <>

    January 22, 2021 - 7:28 PM

  • Paul

    Dear Fellow investors/ Dear Peter
    Sorry for being absent for quite sometime, due to hardship I am facing because of my wife’s state of health(Crohn’s disease & surgery)
    As of today, January 22, 2021 around 3:00 pm, I have received a call from BCSC representative. To my extreme disappointment, it seems that they don’t have enough “evidence” to prosecute Giga Metals insiders for the crime they have committed! BCSC, for some obvious reasons, don’t seem to care about our loss nor about the hardship we are facing whereas criminals continue to get richer at the expense of innocent investors and tax payers. Under these extenuating circumstances, the only way for us to retrieve our losses is to unite as a team and conduct a Class Action Lawsuit against Giga Metals using together the same attorney I found who seems to be interested to take charge of our case. The Attorney ‘s coordinates are mentioned above( my previous comment). The more of us the better to be in a position to negotiate better terms for both parties: Us as a group and the attorney Lewis. Please let me know ASAP to initiate the process together as a group.
    God bless us all in this extremely difficult time! Godspeed.
    To facilitate your research, the following is the lawyer I am talking about. Should you have another proposal please do not hesitate to let me know. Keep in mind the more of us the better. Thank you!

    <>

    January 22, 2021 - 7:30 PM

    • Paul

      Dear Fellow investors/ Dear Peter
      Sorry for being absent for quite sometime, due to hardship I am facing because of my wife’s state of health(Crohn’s disease & surgery)
      As of today, January 22, 2021 around 3:00 pm, I have received a call from BCSC representative. To my extreme disappointment, it seems that they don’t have enough “evidence” to prosecute Giga Metals insiders for the crime they have committed! BCSC, for some obvious reasons, don’t seem to care about our loss nor about the hardship we are facing whereas criminals continue to get richer at the expense of innocent investors and tax payers. Under these extenuating circumstances, the only way for us to retrieve our losses is to unite as a team and conduct a Class Action Lawsuit against Giga Metals using together the same attorney I found who seems to be interested to take charge of our case. The Attorney ‘s coordinates are mentioned above( my previous comment). The more of us the better to be in a position to negotiate better terms for both parties: Us as a group and the attorney Lewis. Please let me know ASAP to initiate the process together as a group.
      God bless us all in this extremely difficult time! Godspeed.
      To facilitate your research, the following is the lawyer I am talking about. Should you have another proposal please do not hesitate to let me know. Keep in mind the more of us the better. Thank you!

      <>

      January 22, 2021 - 7:32 PM

  • Paul Sinclair

    Please let me know ASAP whether we conduct a Class Action Lawsuit together or not. I personally don’t rely in BCSC to solve our case and cannot wait any longer. If you found a better lawyer please let me know the sooner the class action takes place the better. With you or without you. Those bastards have to pay the cost!

    January 23, 2021 - 4:49 AM

  • Paul Sinclair

    Please let me know ASAP whether we conduct a Class Action Lawsuit together or not. I personally don’t rely in BCSC to solve our case and cannot wait any longer. If you found a better lawyer please let me know the sooner the class action takes place the better. With you or without you. Please confirm.

    January 23, 2021 - 4:51 AM

    • Ted Martin

      Count me in, I’m guessing the individual cost is 10% of our own losses? Could we further assume on a win we could also claim our legal fees?

      January 23, 2021 - 11:44 AM

  • Paul Sinclair

    Please confirm. Thank you

    January 23, 2021 - 4:52 AM

  • Sorin

    Upon reading about the BCSC news that very likely reach same conclusion for all of us , i’m ready to join the class action laws suit !
    Let me know what is needed. I have the attorney info ,was posted further up in the thread..
    Q- how much is 10% upfront from this case ?

    January 23, 2021 - 10:57 AM

  • Paul Sinclair

    Good morning, Sorin
    From my understanding, 10% upfront would represent 10% of the losses suffered plus 5% thereafter after retrieving our loss. It ‘s yet to be confirmed with the lawyer Lewis. However, if we succeed to have a group of at least ten people, if not more, who are willing to conduct Class Action Lawsuit together and dealing with the same lawyer, we might be in a position to negotiate for better and equitable terms by reversing the lawyer’s proposal to 5% upfront and 10% after collecting our losses; which is fair in motivating the attorney to work his butt off for our cause !
    That is my opinion, Sorin. It is unfortunate that other victimized investors are not motivated enough to join us and make the deal more attractive for both parties!
    I am outraged that the BCSC do not seem to have enough evidence to prosecute the criminal insiders, despite all the flagrant events taking place in exercising derivatives and options and the insiders are still continuing to do so by making even more profits and laughing at us. I suspect, under these circumstances, there’s potential conflict of interest between the fraudulent giga metals and the BCSC! Who knows? We are witnessing nowadays an unprecedented corruption throughout the North American continent, to say the least!
    If nobody else is willing to retrieve his or her loss in joining us, we may as well do it both of us. In hat case, Peter Caulsi might help us communicate our respective email addresses privately so that we continue our process together.
    In that case, unless you have another proposal for another lawyer, each one of us should directly contact the attorney Lewis, insisting on 5% upfront and 10% upon collecting our losses.
    Are you okay, Sorin, with my suggestion?
    Please confirm ASAP.
    Warmest and kindest regards.
    Paul

    January 23, 2021 - 1:07 PM

  • anthony

    How do we proceed with such case ? Is there a discord or another app where we can discuss this in further? As I have quite a few questions to weight out if its worth going forward as my investment was only $1000.

    January 23, 2021 - 1:21 PM

    • Paul Sinclair

      You are welcome to join us, Anthony.
      We might us Parler app as it is the onlyone suitable for my conservative beliefs! I am not sure whether my son is in the process of putting his own new social media platform or not? He’s in the testing period for certain algorithms are subject to an update, taking in account twitter and face book anomalies! As a conservative, I am not using face book nor Twitter, due to ongoing corruption and interference in American election!
      For the time being, we may as well use Parler platform as a mean of communication!
      Cheers
      Paul

      January 23, 2021 - 2:12 PM

      • Ted

        Hi Paul, first off I certainly hope your wife is moving well into recovery, it’s never easy when life tosses us more challenges when we least need them.
        As for Parler I tried to get access and due to previous issues they now have what they refer to as “Technical Difficulties”. Maybe we consider a basic email group?
        Ted

        January 24, 2021 - 3:23 PM

  • Paul

    Thank you for your thoughts, Ted!
    I have noticed monitored restrictions imposed on conservatives!
    It belongs to each one of us to initiate the process of conducting the Class Action Lawsuit directly to the attorney Lewis by proposing the reversal of his initial suggestion: 5% upfront and 10% upon retrieving losses, but the opposite! I am about to do the same. Thanh you!

    January 24, 2021 - 9:04 PM

    • Ted

      Paul, I spoke to Lewis yesterday (Jan 25) and gave him an idea of my losses related to this scam. Given he doesn’t have amounts others have in play he couldn’t confirm for sure if he could do the 5% / 10% however we did discuss what might be on the table and with review of upper management they would consider adjusting the fee. He said he hasn’t heard from anyone else on this case and if we were to proceed he would want to assure we have a spokes person for the group. There are a few other items he commented on and if possible I’d like to discuss these with you as they should not be on a public forum.
      Ted

      January 26, 2021 - 7:37 AM

      • Paul Sinclair

        Hello Ted,
        How can we communicate without using a public forum?
        Do you have any idea how many people are going to join us for a class action law suit?
        Your prompt response is highly appreciated.
        Paul

        January 28, 2021 - 2:21 AM

        • Ted

          Paul, I tried to send a temporary address and my message got deleted. Some of what I wanted to pass along I didn’t want to pass along here out of respect for all concerned. I have one other idea, give me today.
          Ted

          January 28, 2021 - 10:35 AM

  • Paul

    Paul Sinclair
    Jan 26, 2021, 8:05 AM (1 day ago)
    to Info

    Thanks Ted for taking the initiative of talking to Lewis, which means there are only two of us in the battle! I sent him an email yesterday to respond to his proposal. He’s okay with 5% upfront and 10% thereafter. I suggested:
    First, 5% upfront based on the loss suffered amount ,
    Second, 10% of the collected amount, including the loss suffered and a compensation for our suffering. I required more detailed information if there are not that many people in the group. For instance, if there’s only one person filing a complaint. It seems to me, apart from you, Sorin, and myself, others are not that motivated to get into action to retrieve their losses! Keep in mind, Ted, I am living in a turmoil right now, family wise, and Multitasking is no longer my cup of tea because of my age! I retired from teaching mathematics since 2017 and was supposed to be enjoying my retirement somewhere in an island and yet it’s not happening! You got a picture?
    I am waiting for his response.
    We need to find a private way to keep in touch!
    Cheers
    Paul

    January 27, 2021 - 12:59 PM

  • Ted

    Having had my second call with Lewis it appears we are getting more investors involved in the battle to be, the more that get in the better for the group. So if there are others out there (note the contact info for Lewis above comments) and make your call. Nice to see he has given us a break on the fee, that will help with everyone that gets in. Just a note to others that may have been sitting on the fence with this, it’s time to get in. A lot of the documentation is already in hand so it’s about making the call. IT’S YOUR MONEY THEY STOLE!

    January 29, 2021 - 10:22 AM

  • Paul

    Hello guys.
    I hope you are doing well! The following is the last email I am sending to the Attorney Lewis, prior to initiating the lawsuit process. I am hopeful to receive a confirmation letter from him very soon. It is sad noticing many of you are not motivated in collecting your stolen money!

    <>

    February 4, 2021 - 1:30 PM

  • Paul

    Hello Lewis
    This email is to inform you that I did the best I could to gather potential victimized investors who are willing to join me for the Class Action Lawsuit against Giga metals. I even published your coordinates on stockhouse.com.
    I have had bad experiences with lawyers and I am hopeful you are going to make a difference in showing us how much you really care about defending your clients rights. Depending on the positive outcomes we achieve in this current lawsuit, I will be in a position to request your assistance for other services. It is very important that I have an attorney I truly trust!
    Will 5% upfront and 10% after retrieving my losses hold, as you have stipulated in your previous email?
    Does 5% upfront fee represent 5% of the loss suffered? What does 10% represent, after collecting my money?
    I have at my disposal E documents from my bank justifying my losses that I can submit with my cheque payment of 5% upfront fee, once I receive a confirmation letter attached to your email response giving all the details of your intervention. By the way, how many of us in a group did contact you and are willing to conduct a lawsuit? It’s very important for us to communicate as a group through an exchanged email so that I take ownership, as a spokesman of the group, to transmit all the feedback I receive directly from you. From that regard, communicating our respective emails among us would be highly appreciated.
    I look forward to hearing from you very soon.
    Paul Sinclair

    February 4, 2021 - 1:32 PM

  • Sorin

    Too all members affected by this scam,

    As my loss was moderately small 4500$ , i had decided to just clam it on my taxes(3k now and the rest next year).I have to see about capital gains, depending on those up to 10k in losses could be claimed yearly).
    Going on with the lawyer path I know that it will take some time and I just don’t want any other headaches and thinking about this in the future . I’ve learned my lessons, I’ve learned a lot of lessons the past year and always we have to do a lot of DD , study and read about the main persons on each company where we invest , their personalities ; to learn as much as we can before we invest that’s my lesson.
    I would also like to say that this is website has great editors, amazing people with a lot of experience and there’s some very good stocks that thanks to the editors I’ve learned about the possibilities and we can trust this website the editors /members are great and there’s a lot of amazing articles about the disruptor technologies of our present times.

    Thank you and i hope for the best for those of you going ahead with the lawsuit .

    February 13, 2021 - 11:48 PM

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