The applicant, a dissenting shareholder, sought a declaration that he owned 900,000 shares in a junior mining company prior to its amalgamation, and an order fixing the fair value of those shares.
The respondent argued the applicant's shareholdings were limited by an Anti-Dilution Agreement.
The court found the applicant was the registered holder of 900,000 shares and had a statutory right to dissent under s. 185 of the OBCA, unconstrained by the contractual agreement for the purpose of valuation.
The court fixed the fair value of the shares at $0.07 per share based on expert evidence of comparable junior mining companies.
The applicant's claim for oppression was dismissed.
