Business
Wildcat Exploration to Appoint New Auditor
Wildcat Exploration to Appoint New Auditor.
About this update from Fuse Battery Metals Inc
[{"type":"text","content":"\n\n\n\nTSX-V Trade Symbol: WEL\n\n\nWINNIPEG, Feb. 13 /CNW/ - Wildcat Exploration Ltd. announced today that\nit will appoint a new auditor following the receipt of a letter of resignation\nfrom its current auditor, PricewaterhouseCoopers (\"PWC\"). The Company's\nauditor, Staley, Okada & Partners, Chartered Accountants, merged its practice\nwith PWC in 2006.\n\n\nOn January 29, 2007, the Company, with the approval of PWC, issued a\npress release re-confirming the appointment of PWC as auditor. However, in a\nletter dated February 7, 2006, PWC advised the Company of its resignation as\nauditor without providing reasons.\n\n\nAs previously disclosed by Wildcat, the former President and CEO of the\nCompany, Shlomo (Sol) Prizant, executed and caused to be filed on SEDAR on\nOctober 27, 2006 a Notice of Change of Auditors purporting to change the\nauditor of the Company from PWC to Danziger & Hochman, Chartered Accountants.\n\n\nThe purported change of auditor lacked the authority of the board of\ndirectors of the Company and was therefore ineffective. The board of directors\npassed a resolution on December 6, 2006 confirming the appointment of PWC.\n\n\nFollowing discussions with PWC, in which PWC indicated its ability to act\nas auditor of the Company, the Company's Audit Committee passed resolutions on\nJanuary 26, 2007 confirming the continued appointment of PWC.\n\n\nThe board of directors relieved Mr. Prizant of his duties as President\nand CEO on January 8, 2007 and terminated his consulting agreement for cause\non January 26, 2007.\n\n\nThe Company is currently in discussions with potential auditors and will\nannounce confirmation of the appointment at the appropriate time.\n\n\nOn February 9, 2007, the Company was served with a Statement of Claim,\nwhich has been filed in the Ontario Superior Court of Justice by Mr. Prizant,\nclaiming, among other allegations, breach of the consulting agreement. The\nCompany will vigorously defend itself in this claim.\n\n\nAbout Wildcat Exploration Ltd.\n\n\nWildcat is a Winnipeg-based mineral exploration company actively\nexploring for gold and base metals in Canada. For further information on the\ncompany please visit our website at www.wildcat.ca or contact us at\[email protected].\n\n\nThe TSX Venture Exchange has not reviewed and does not accept\n\n\nresponsibility for the adeq...