Business
Getty rejects Report on Business article as false and misleading
Getty rejects Report on Business article as false and misleading.
About this update from Getty Copper Inc.
[{"type":"text","content":"\n\n\n\nTrading Symbol TSX:V GTC\n\n\nCOQUITLAM, BC, Nov. 1 /CNW/ - Bruce Livesey's unflattering article in the\nG&M's November Report on Business contains numerous inaccuracies and\nomissions. These will be detailed by Getty in the next few days. A few of the\nhalf-truths in the article are noted here for the sake of immediately\ncorrecting the record on some important points. Mr. Livesey states that John\nLepinski, Getty's managing director, has refused all interview requests. This\nis true, as there are ongoing lawsuits. What Mr. Livesey does not disclose to\nhis readers is that an extensive list of written questions was answered for\nhim in detail. Virtually none of those written answers made it to print.\n\n\nAs an example of his half-true approach to investigative journalism, Mr\nLivesey tells how a director who joined the board in June, 2003 later became\n"alarmed" about the 2002 agreement whereby Getty acquired the Getty South\ndeposit from Mr Lepinski's company. What Mr. Livesey does not tell his readers\nis that the so-called alarming agreement was put on the SEDAR.com public\nsecurities filings website as part of a March 4, 2003 filing, some three\nmonths before the transaction completed and 4 months before that director\njoined the Board. Mr. Livesey knew or should have known (but didn't say) that\nthe new director's close associates were both at the shareholders meeting\nwhere the agreement was tabled and approved.\n\n\nMuch ado is made by Mr. Livesey about a 2004 negative opinion of a law\nfirm hired by the newly dissident directors about the Getty South agreement\nand related matters. This early stage opinion was premised on factual errors.\nMoreover, Mr. Livesey was advised, but did not disclose, that another\nindependent lawyer (hired by an underwriter in a $2 million financing in 2003)\nhad reviewed the "alarming" Getty South agreement and raised no concerns about\nit. In the same fashion, Mr Livesey accepts without question the opinion of\nthe first mining valuator hired by Getty who later flip-flopped on his\noriginal opinion. Mr. Livesey simply ignored the fact, of which he was aware,\nthat a much larger and more prominent engineering firm provided a report\ndisagreeing with the first valuator. He also conveniently fails to note that\nthe stock exchange regulators who were in fact ver...