Karol Brassard Sues Clemex and its Directors

    MONTREAL, Aug. 7 /CNW Telbec/ - Karol Brassard announces having
instituted today proceedings for oppression remedies and damages against
CLEMEX TECHNOLOGIES INC. (TSX Venture: CXG.a) ("Clemex"), its President and
Chief Executive Officer, Clément Forget, and the other members of its board of
    The proceedings were instituted by Mr. Brassard to obtain judicial remedy
to the abuse of rights and the prejudice suffered due to the manner in which
the directors of Clemex exercise their powers following, notably the issuance
of 2,100,000 additional shares of Clemex at a price of $0.20 per share by way
of a private placement completed on August 1, 2008 to various investors,
including Clément Forget.
    In connection with Clemex's strategic alternatives review process
announced in January of this year, a potential acquirer has, prior to the
August 1, 2008 private placement, indicated its interest in acquiring all of
the issued and outstanding shares of Clemex at a price of $0.35 in cash
(representing a premium of 75% based on the share price at the close of
markets on August 6, 2008). M Brassard believes that its interest was subject
to certain usual conditions in similar transactions.
    According to Mr. Brassard, the directors of Clemex exercise their powers
in a manner which is oppressive and unfair and in breach of their fiduciary
duties, including by omitting to negotiate and to properly respond to the
potential acquirer's letter of intent and by omitting, despite the
announcement of a strategic alternatives review process, to establish a real
process aimed at analyzing in an independent and objective fashion the
potential acquirer's letter of intent and any other offer received. In
addition, M Brassard believes that by approving a private placement under the
potential value of the shares of Clemex, as shown by the letter of intent
contemplating an acquisition price of $0.35 per shares, and by allowing
Clément Forget to participate in such private placement, the Board has failed
to meet his fiduciary duties.
    Consequently, Mr. Brassard requests the Superior Court to issue various
orders in order to prevent the contested actions and to remedy to the
oppression he suffers, including the cancellation of the August 1, 2008
private placement, the exclusion of Clément Forget from Clemex's strategic
alternatives review process, the obligation on the part of the board of
directors to ensure that any offer deemed fair from a financial point of view
by its financial advisors be made to shareholders or submitted for their
approval, as the case may be, and the acquisition by the defendants of its
4,193,300 shares in the share capital of Clemex for a sum of $1,467,655 or,
subsidiarily, the payment of such amount.

    Karol Brassard, resident of Montreal, Québec, is a techno-entrepreneur
who founded Nexxlink Technologies inc. Nexxlink had annual sales of more than
$125 million and employed more than 900 people across the country when it was
acquired by Bell Canada in 2005.

For further information:

For further information: Media and Investors: Dominic Sicotte, Echoes
Financial Network Inc., (866) 633-9551, (514) 842-9551,

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