viewPreveCeutical Medical Inc.

PreveCeutical Medical files civil claim against Bridgemark Group

The firm has filed a notice of a civil claim with the Supreme Court of British Columbia

The notice was filed with the Supreme Court of British Columbia

PreveCeutical Medical Inc (CSE:PREV) (OTCMKTS:PRVCF), the health sciences firm, said Monday it had filed a civil claim against the Bridgemark Group with the Supreme Court of British Columbia.

In the notice, PreveCeutical Medical made claims against the BridgeMark group, including for fraudulent misrepresentation and breach of contract, in connection with services that the BridgeMark group failed to provide to the company.

It also covered various consulting agreements and subscription agreements entered into between Preveceutical Medical and certain members of the BridgeMark group.

Specifically, the notice is against Aly Babu Mawji, Justin Liu, BridgeMark Financial Corp., Rockshore Advisors Ltd. (formerly known as Cam Paddock Enterprises Inc.), Detona Capital Corp., Escher Invest SA, Essos Corporate Services Inc., Jarman Capital Inc., JCN Capital Corp., Kendl Capital Ltd., Lukor Capital, Northwest Marketing and Management Inc., Sway Capital Corp. and Tryton Financial Corp.

"Given the conduct of the BridgeMark group, we have no other choice but to defend the interests of our shareholders by pursuing this notice of civil claim," said Stephen Van Deventer, Preveceutical's chairman, CEO and president.

PreveCeutical Medical is seeking:

  1. Rescission (revocation) of the consulting agreements and the subscription agreements.
  2. All necessary actions to effect such recession, including an order that the relevant members of the BridgeMark group return the securities issued to them by Preveceutical under the subscription agreements and refund the consulting fees paid to them by Preveceutical under the consulting agreements.
  3. Damages, costs, and prejudgement and postjudgement interest.

BridgeMark did not immediately respond to a request for comment.

PreveCeutical shares were unchanged in Toronto at $0.06.

Quick facts: PreveCeutical Medical Inc.

Price: 0.055 CAD

Market: CSE
Market Cap: $21.8 m

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