Boundary Gold and Copper Mining Ltd. Expects to Sue Former Director David Schmidt for Incompetence, Negligence, and Breach of Fiduciary Duties
Vancouver, January 24, 2020 - Boundary Gold and Copper Mining Ltd. (TSXV: BDGC) (OTCQB: PRZFF) (FSE: MQSP) ("Boundary" or the "Company") announces it has decided to pursue legal action against David Schmidt, claiming gross incompetence, negligence, and breach of fiduciary duties as a director that has resulted in significant loss in shareholder value.
The company has reached out to Mr. Schmidt repeatedly without any response from the defendant. The claim is supported by current and past management and alleges that while serving in the role of director of Prize Mining Inc., Mr. Schmidt failed his fiduciary duty which has led to substantial shareholder loss. Mr. Schmidt made a series of very poor financial decisions on behalf of the company which has resulted in significant loss in shareholder value.
Directors are regarded as fiduciaries of their corporation and, as such, directors must ensure the corporation's interests are paramount. It is the fiduciary duty of the director to act honestly and in good faith, with a view to the best interests of the corporation. If a director fails to meet his or her fiduciary duty, courts will hold the director strictly liable.
"It's unfortunate that Mr. Schmidt does not respond but it seems to be regular course of business for him based on his issues with other companies. Boundary is looking to move forward from his time with the company and bring success to our shareholders," states Russell Van Skiver.
About Boundary Gold and Copper Mining Ltd.
Boundary is a junior mining issuer listed on the TSX Venture Exchange. Boundary is focused on the exploration and development of the Kena Gold Property in BC. Find out more at: www.prizemining.com
For more information please contact: info@prizemining.com
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