De Tin Marín de do Pingüé…
Tell you what, once you start scratching the surface of how Marin Katusa of Casey Research runs his self-serving enterprises you can’t help but notice a trend….kinda lapse of IKN not to have sniffed around this scumball’s modus operandi previously, really.
Take for example CBM Asia (TCF.v), a company he pumped non stop in 2009 and early 2010 before suddenly deciding that it “wasn’t impressive” any longer. All you need to do is plug in a couple of keywords into Google and things like this pop out (IKN highlights in red):
CBM ASIA DEVELOPMENT CORP. ("TCF") BULLETIN TYPE: Private Placement-Non-Brokered BULLETIN DATE: October 21, 2009 TSX Venture Tier 2 Company TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced September 16 and 28, 2009: Number of Shares: 11,000,000 shares Purchase Price: $0.30 per share Warrants: 11,000,000 share purchase warrants to purchase 11,000,000 shares Warrant Exercise Price: $0.40 for a three year period Number of Placees: 100 placees Insider/Pro Group Participation: Insider equals Y/ Name ProGroup equals P/ No. of Shares Charles Bloomquist Y 75,000 Ladner Rose Investments Ltd. (David Elliott & David Shepherd) P 100,000 Batell Investments Ltd. (Ken Bates & David Elliott) P 25,000 David Elliott P 200,000 David Shepherd P 100,000 Lisa Stefani P 80,000 Andrew Williams P 70,000 Ray Rich P 80,000 Sandeep Atwal P 13,333 Gerald Stefaniuk P 25,000 Finders' Fees: $72,000 cash payable to Raymond James Ltd. $22,199.94 cash payable to Global Securities Corp. $100,000 cash payable to Vancouver Venture Report (Marin Katusa) $3,600 cash payable to Tom Byrne Pursuant to Corporate Finance Policy 4.1, Section 1.11(d), the Company must issue a news release announcing the closing of the private placement and setting out the expiry dates of the hold period(s). The Company must also issue a news release if the private placement does not close promptly. Note that in certain circumstances the Exchange may later extend the expiry date of the warrants, if they are less than the maximum permitted term. TSX-X
Yep, in the middle of his pumping TCF.v ran a $3m private placement at 30c, which got upped to $3.3m (11m units, with a now totally worthless warrant attached at 40c) for which Marin Katusa managed to pocket a cool $100,000 in finder’s fees commissions. And yeah, this is the very same TCF.v that hired his Casey Research buddy and PP running pal Marc Bustin (as in “bustin your bank a/c”, probably) as consultant…i wonder what group of people ended up paying those consultancy fees?
But anyway, let’s see how TCF.v has done since that PP was filed as closed:
Hmm, not so hot. But don’t worry Caseysheep, at least you can gain solace from the fact that not everybody lost as much money as you did on that deal, cos the guy that got you into this dog walked away with 100k in his pocket. Better born lucky than rich, eh Marin?