Barb Zvatora April 13, 2007
Mr. Nelson Leeson, NLG President
Mr. Fred Tolmie, NLG Interim CEO
Mr. Ed Wright, NLG Secretary Treasurer
P.O. Box 231
New Aiyansh, B.C., V0J 1A0
Dear Sirs:
RE: Nass Valley Gateway Ltd - Private or Public?
Nass Valley Gateway Directors issued 1,200,000 special warrants at $.45 which would have amounted to $540,000. They claim that they had 297 private investors and used Nisga'a moneys to put in Nass Valley Gateway Ltd - $540,000 (possibly the whole amount) as in the past the Laxgalt'sap Village government had no problem transferring moneys from other "Core Program Funding" accounts to their forestry company. The special warrants were split 1 special warrant for 3 common shares and put 3,600,000 common shares for public offering.
If common shares are sold for $.45 they would now have for their transfer of $540,000 of our Nisga'a moneys received $1,620,000 and I am assuming (but has never happened before) they would put $540,000 Nisga'a moneys back leaving them with a nice profit of $1,080,000; however, in order to maintain the 40% interest - approximately $341,200 would have to be used to purchase 40% of the March 23/07 new offering of "Non-Brokered Private Placement." They would still have $738,800 and I am assuming if the minerals are in enough quantities to go to production then they would go private and if not they would start selling off 7,250,000 old shares and 1,000,000 of new shares. Even if the 8,250,000 shares sell at only $.10 it would amount to another $850,000 and if the shares sell higher then more profit for them - that is in addition to what they already made from before. These scenarious are the reason why this was all done in secrecy just like all other contracts on Nisga'a lands are done. It would appear that our NLG executives and chosen employees had moved on from stealing Nisga'a moneys to stealing our lands and resources to benefit themselves and a select few.
What are the Nisga'a receiving from this venture besides the elders, including the deceased, being given 1,500 shares?
Sincerely,
Barb Zvatora