I had absolutely no idea how the market was going to react to this news. But so far it appears that it likes it. What is shocking is the amount of criminal activities performed by the other party. There is a lot more to it than what it says in this press release. I would not be surprised if this guy ends up in jail over this.
Vancouver, British Columbia (January 14, 2014) — Goldgroup Mining Inc. (“Goldgroup” or the “Company”) (TSX:GGA,
OTC:GGAZF, BMV SIX:GGAN.MX) announces that it has obtained an injunction against the 300 new shares purportedly issued by DynaResources de México, S.A. de C.V. (“DynaMex”) in favor of DynaResource, Inc. (“DynaUSA”) (OTCQB:DYNR) from a Federal Judge of the Mexican Court. The injunction freezes the shares pending trial regarding DynaMex’s issuance of the new shares. Before the new shares were purportedly issued, Goldgroup was a 50% shareholder in DynaMex, the company that owns the San José de Gracia high-grade gold project in Sinaloa, Mexico. DynaUSA was a 49% shareholder, and Koy Wilber Diepholz (“Diepholz”), DynaUSA’s Chairman, Chief Executive Officer and Treasurer, held the remaining 1% interest.
On May 17, 2013 DynaMex held an extraordinary shareholders meeting (the “Meeting”) without following the proper legal process or providing the correct notification to Goldgroup. The Meeting was, apparently, attended by representatives of DynaUSA. Goldgroup did not attend as it was not properly notified of the Meeting.
In the Meeting, DynaUSA and Diepholz purported to approve the financial statements for the year ended December 31, 2012, which included unaudited accounts payable amounts which were to the benefit of DynaUSA and were never approved by Goldgroup. In the Meeting, DynaUSA and Diepholz purported to increase DynaMex’s equity by means of capitalization of the aforementioned accounts payable and purported to issue 300 new shares of DynaMex in favor of DynaUSA.
Goldgroup considers that such a meeting was in violation of a number of legal requirements, including but not limited to, the bylaws of DynaMex, the capitalization of debt (accounts payable) without the prior approval of the Financial Statements of the company and by voting such capitalization by a shareholder (DynaUSA) for its own benefit. Under Mexican Law, parties with a conflict of interest must abstain from voting in such a manner. As a result of such a capital increase, DynaUSA has attempted to dilute Goldgroup’s ownership in DynaMex, purporting to become the owner of 80% of DynaMex.
Due to the foregoing, Goldgroup initiated, before the Mexican Federal authorities, a suit concerning the Meeting and, as a precautionary measure, requested that the Judge freeze the 300 shares issued to DynaUSA. On December 13, 2013, the Judge issued an injunction in order to maintain the status quo of DynaMex as it was before the Meeting (i.e. Goldgroup owning 50% of the shares of DynaMex) until the trial occurs. In order to freeze the shares, the Judge has requested that Goldgroup post a bond (the “Bond”) which the Company is in the process of posting.
This injunction is part of a number of cases being brought by Goldgroup against Diepholz in the Mexican Courts, including the criminal action as previously announced in the October 28, 2013 Goldgroup News Release which can be found on SEDAR (www.sedar.com).