Goldgroup Obtains Injunction Against DynaResrouce, Inc.

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).

Disclosures: Long Goldgroup Mining

3 Comments to Goldgroup Obtains Injunction Against DynaResrouce, Inc.

  1. Roger's Gravatar Roger
    January 14, 2014 at 8:57 pm | Permalink

    The actions of the Dyna Resource guy would have to be considered to be a slap in the face to Mexico. He must think that Mexico is a total basket case of a third world country to even dream of getting away with such a fraudulent scam!!! If I were a shareholder of DynaResources I would not give this guy a penny more of my money until this guy resigns.

  2. Mark G's Gravatar Mark G
    January 20, 2014 at 2:41 pm | Permalink

    Strange news affecting MMY today, moving the stock lower

    Monument Warns Shareholders to Be Wary of the Dissident Group Attempting to Take Control of the Board

    VANCOUVER , Jan. 20, 2014 /CNW/ – Monument Mining Limited (MMY.V) (D7Q1.F) (“Monument” or the “Company”) today warned shareholders to be wary of the dissident group that is attempting to take control of the Board.

    “This recently-surfaced dissident group wants 100% control of the board but has negligible ownership, vague plans and a poor understanding of corporate governance and mining law,” said George Brazier , Monument’s Chairman. “Clearly this group is not up to the task of running Monument and shareholders are not being given the full story behind the dissidents’ dubious and highly suspicious campaign.”

    “The dissidents are keenly aware of Monument’s great potential for value creation,” said Brazier. “But they are hoping that shareholders passively cede control without receiving a premium price for control. We believe the dissidents represent a grave danger to Monument and shareholders should not let them succeed.”

    Monument has reviewed the dissidents’ information circular and believes that if elected, the dissidents may act in a manner contrary to the interest of the company and all of its shareholders. Monument notes that its largest shareholder, GoldMet B.V. with 19.67% of the shares, has entered into an agreement to support management’s nominees and not to take actions to oppose them. Monument urges all shareholders to vote for the incumbent board to protect the value of their investment.

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