CALGARY, Alberta, Aug. 19, 2013 (GLOBE NEWSWIRE) -- Former BluForest, Inc. (OTCQB:BLUF) shareholder, George Sharp, announced today that Jim Can of Calgary has been added as an additional defendant to a civil action for Fraud, Negligent Misrepresentation, and Deceit, against BluForest and several of its past and present officers, including Gary Alexander, Branislav Jovanovic, and Charles Miller. The Complaint was filed by George Sharp in the San Diego County Division of California Superior Court (Case No. 37-2013-00057730-CU-FR-CTL) on July 16, 2013.
Within his complaint, Mr. Sharp states that the Defendants, then operating as Greenwood Gold Resources, Inc., deliberately deceived him by issuing false and misleading press releases regarding the acquisition of the Summer Mining Property from Candorado Operating Company, Ltd. for the singular purpose of selling insider stock. Mr. Sharp alleges that the Defendants conspired to profit from their holdings by retaining the services of several stock promoters in order to create a marketplace for stock at over-inflated prices, thereby defrauding the public, in what is commonly known as a Pump and Dump scheme.
According to Mr. Sharp, Jim Can is the de facto head of BluForest, Inc. and was directing the company's actions during the Greenwood Gold scheme. Mr. Sharp claims that Mr. Can has distributed shares to nominee shareholders and entities in Belize, in order to disguise his position as the "brains behind the operation." Mr. Sharp commented, "Jim Can's execution of a pump and dump campaign on Greenwood Gold Resources and then reverse split out the shareholders, was pre-meditated, as is the current scheme on BluForest, Inc., where the company has deliberately and falsely overvalued the carbon credit assets of the properties in Ecuador, if any such assets even exist. BluForest conspired with Mr. Can's other penny stock operation, Global Resource Energy, Inc. to overvalue the credits."
Mr. Sharp continued, "Within minutes of my telephone call to Jim Can informing him of his status as a defendant in this case, Christopher Bruno, an attorney from Fairfax, Virginia, telephoned to inform me that Mr. Can had just retained Mr. Bruno to represent BluForest, thus confirming my suspicions."
Mr. Sharp continues to express concerns for investors in BluForest, Inc., currently undergoing a heavy promotion, and fears that investors will experience the same kind of harsh losses that wiped out previous investors during the Greenwood Gold pump and dump campaign. Mr. Sharp cautions investors not to invest in stocks promoted through mailed, email or internet advertisements, as these are always exclusively attempts to abscond with investors' funds, by selling worthless or near-worthless stock at heavily over-inflated prices. Stocks promoted by these newsletters, always ends up with share prices that evaporate and significant losses by the public.
Mr. Sharp now holds no interest in BluForest, Inc. and has never directly or indirectly been involved in the shorting of any stock.
George Sharp (310) 498-4455
