Medinah Minerals (MDMN)

[Hurricane_Rick]

Auryn owns ~500 million shares of MDMN. Due to the 1.5 billion share issuance cap (that Les Price violated) in the Auryn/Medinah contract, Auryn had previously thought they owned ~33% of the company when in fact they only owned ~16.5% due to Price fraudulently issuing 1.5 billion more shares behind their back. It is possible that MDMN was already over the 1.5 billion share issuance cap when they signed the contract (I believe signed by Price). Auryn could've buried MDMN (and JJ) for the misdeeds of Price on this clause alone, but they didn't (or haven't as yet).

As the majority owner of shares in MDMN, Auryn (and any majority owning entity for that matter) is entitled to have board appointments to make sure their interests are represented - just like MDMN, as a 27.5% owner in Auryn, has representation on Auryn's board.

Additionally, because of the fraud that Price perpetrated on MDMN, and arguably at the expense of Auryn and all other MDMN shareholders, it is doubly imperative for Auryn that it has sufficient board representation to protect its ownership interest given MDMN (albeit through no fault of their own) had already violated the contract.