That was then (October 2013):
Mr. Nelson makes several allegations in his claim, including: alleging a
key role in recognizing the mineral potential of the El Roble project
and acting as a founder of Atico; alleging the existence of a
partnership or joint venture; and alleging oppressive and unfair
treatment related to the issuance of shares, benefits and his exclusion
from the management of Atico. Mr. Nelson seeks various relief,
including: claiming payment of a finder’s fee of approximately $436,000
in connection with the El Roble project; seeking the right to purchase
2,500,000 additional shares of Atico at a pre-IPO subscription price
from Atico, or alternatively, the individual defendants; seeking
appointment to the board of directors of Atico or accorded such other
meaningful and ongoing role in the affairs of Atico; and claiming other
damages and costs in addition to the amounts already paid to him for his
geological consulting services.The allegations of Mr. Nelson have not been proven. The Company
disputes Mr. Nelson’s claims and will defend itself in this matter.
This is now (December 2015):
“Mr. Nelson, the Company and three of its Directors reached a solution
satisfactory to all parties whereby Mr. Nelson will receive a cash
payment of CAD$550,000, of which CAD$200,000 will be paid by the
Company, and the balance by insurance.”
If you consider what’s happened to the PPS in the last two years (makes the pre-IPO share price unattractive) that cash payment, plus the long-ish explanation in tonight’s NR all about how Carl Nelson was a key part of the ATY decision to move on El Roble, all sounds like a win for the geol in this one.