TORONTO, Nov. 19,
2023 /CNW/ - Berger Montague
(Canada) PC, a Toronto-based law firm that focuses on
representing investors in cross-border shareholder disputes, is
investigating Canacol Energy Ltd. (TSX: CNE) (USOTC:
CNNEF) and (FRA: 3B6.F) and is subject to the
disclosure rules created by the Province of Alberta's Securities Act.
On October 24, 2022, CNE announced
that it executed an agreement with Shanghai Engineering and
Technology Corp. ("SETCO"), what appears to be a company (or
syndicate of individuals), unregistered anywhere that can be found
on normal internet channels, to construct a 289 km long, 22 inch
diameter, gas pipeline from Canacol's Jobo gas processing facility
("Jobo Station") to the city of Medellin, Colombia.
During the summer of 2023, CNE reported that it was seeking to
change its auditor for undisclosed reasons. CNE never
reported any problems with EPM or SETCO.
On October 19, 2023, CNE reported
that it was terminating the contract and walking away from the
Medellin Project because of a pattern of ever increasing legal,
social, and security obstacles. The market impact was harsh
and immediate; the value and price of CNE's dropped by over
33%.
If you purchased shares of Canacol between October 24, 2022 and October 19, 2023, and would like to know more
about our investigation or the pending shareholder class action,
please contact us at info@bergermontague.ca.
We thank prior stakeholders and continue to invite shareholders
and new stakeholders to provide us information about SETCO and
identify the alleged legal, social, and security
obstacles with EPM.
Berger Montague (Canada) PC is
one of the leading Canadian law firms that represent investors in
shareholder class actions where the corporate defendant lists
securities cross-border and in Europe. Andrew
Morganti, a member of Berger
Montague (Canada) PC served as the investors' co-lead
lawyers in the first "statutory law" shareholder class action
allowed to advance forward to discovery and a trial relating to
Ithaca Energy Inc., and that judgment is identified as Stevens v.
Ithaca Energy Inc., 2019 ABQB 474.
SOURCE Berger Montague (Canada)
PC