The Cortellazzi Consortium

January 10, 2009

Smoke Gets In Your Eyes

As the New Year began short days ago, the main focus of this very first blog post of 2009 is NEW.

In order to understand the NEW, the blog provides something OLD which will assist the reader in identifying the players and better understand the current dynamics, the blog provides a 13 September 2007 org chart which should facilitate your reading comprehension (a larger version of the chart is available here)   




On 30 December 2008, the Quebec’s Bureau de décision et de révision en valeurs mobilières extended its cease trading order which it had issued in October 2008 (as previously mentioned another hearing is scheduled for 19 January 2009).

Notably absent from the 30 December 2008 hearing: HE-5 Resources corporation, Serge Ollu, Denyse Raynault, Jacques Vallée and Andrea Cortellazzi.

This being said it is worth noting that since the Quebec’s Bureau de décision et de révision en valeurs mobilières decision in October 2008, the three (3) main corporate subjects of this blog: He-5 Resources, UMining Resources and M45 Mining Resources have all declared to have “new” management.

On 5 November 2008, Mr. Cortellazzi CEO of M45 Mining declared he was stepping down and “new” management was taking over.  On 1 December 2008, UMining (now Universal Mining) declared it was under “new” management. Most recently, on 9 January 2009 to be more specific, He-5 Resources declared that it was under “new” management.  

M45 Mining Resources 

It is interesting that while Mr. Cortellazzi has declared to have resigned as President and CEO of M45 Mining Resources, the 5 November 2008 press release makes no mention of his current status as a shareholder.

Mr. Cortellazzi’s last filing with the SEC indicated that he was owed $292,935 as of 30 June 2008, a modest amount considering a previous declaration indicated that on 31 March 2008 the amount owed was $ 186,401 and previous to that the amount owed on 31 December 2007 was  declared to be $ 748,491.

Mr. Cortellazzi’s associate Mr. Gilles Ouellette remains as Secretary and Treasurer of the company according to the most recent declaration with the State of Nevada.


Moreover, the 5 November 2008 press release is silent on the 15 August 2007 shareholder agreement filed at the SEC in 2007  in which Mr. Cortellazzi (former CEO M45 Mining) and Mr. Ollu (husband of former He-5 Resources CEO Denyse Raynault) and Jean Michel De Montigny (former CEO of UMining) appear as significant shareholders of M45 Mining.

 ties-that-bind_smlM45’s website remains inaccessible because the account has been suspended.



M45 Mining’s corporate address registration with the Quebec Ministry reponsible for mining remains as Mr. Cortellazzi’s 1212 Redpath Crescent.


Last but not least, M45 Mining claims have begun to expire with the Quebec Government.



UMining Resources/Universal Mining Corporation

It is worth mentioning to readers that the 3 December 2008 press release announcing the “new” management of UMining Resources now known as Universal Mining Corporation is completely silent on the previous mining experience of the “new” corporate executives.

Moreover, it is also worth pointing out that Universal Mining Corporation’s (formerly UMining) share structure increased significantly to 500,000,000 on 21 November 2008 (seen below), just a few days before the 1 December 2008 press release announcing the “new” management.   Even more interesting is the sudden increase of “employees” at Universal Mining, formerly UMining. Last year, the company had no employees,  on 5 December 2008 it declared that it had ten (10) “employees”.



Other observant souls have raised significantly interesting observations on 11 December 2008,  14 December 2008,  20 December 2008,  even a voice from the past has reappeared.

He-5 Resources

Currently, He-5 Resources is without a doubt the most interesting of the Cortellazzi Consortium threesome. 

He-5 Resources not only announced that it had “new” management, it went even further by declaring that “new” management had been in place since July 2008:

Jan 09, 2009 09:44 ET
HE-5 Resources, Corp. Announces Reorganizational Changes Are Completed and New Management Now in Place

GENEVA–(Marketwire – January 9, 2009) – HE-5 Resources, Corp. (PINKSHEETS: HRRN) today announced that HE-5 Resources, Corp. has completed its reorganizational changes following completion of the transaction concluded in July 2008, by the European Finance Group “Lington Financial Limited.”

New Management has Been Appointed For New Business Orientation Plan to Begin in 2009.

New Management stated the following: “We are very pleased to begin our new operations and to share our visions and exclusive development program whit HE-5 Resources, Corp.’s shareholders. Our first objective was to complete a full diligent reorganizational plan, to bring the Corporation to a debt-free status, in order to start transferring new intellectual properties, assets, and potential new businesses.”

The choice of dates by He-5 Resources should come as no surprise to anyone monitoring events considering that it conveniently places the transaction before the issuance of a cease trading order by the Quebec’s Bureau de décision et de révision en valeurs mobilières in October 2008, thereby providing Mr. Serge Ollu, his wife Denyse Raynault and Jacques Vallee with a “justification” to avoid appearing before Quebec’s Bureau de décision et de révision en valeurs mobilières. The basis for the selection of the vague July 2008 date in the most recent He-5 Resources press release lies in the transaction of claims by Denyse Raynault to Excel Gold Mining during this time frame which is the last known date in which Denyse Raynault’s name appears on a public document.         

However, the facts do not provide them with any such relief. 

Indeed, it is only recently that “new” management in the form of Mr. Franck Martin and his partner Mrs. Catherine Puschmann have publicly appeared (Mr. Martin’s given name is incorrectly spelled in Pink Sheets information which appears below) as corporate executives as CEO and Treasurer of He-5 Resources.



Corporate changes filed with Pink Sheets by Mr. Martin and Mrs. Puschmann do not fully reflect the recent changes made with the State of Nevada which records these changes (Mr. Martin’s given name is incorrectly spelled in the information which appears below) on 18 December 2008 the share structure of He-5 Resources was significantly altered by declaring a stock split and increasing the authorised share structure to 500,000,000.
More interesting is the fact that He-5’s  “acquiring” company, Lington Financial Limited has only recently created a web presence as it registered its domain name on 4 December 2008.
Ht-Tendance  another of Mr. Martin and Mrs. Puschmann’s corporate entities. A previous enterprise was an online conciergerie for busy corporate executives called Village VIP, the domain registration remains in the name of Mr. Martin.   

Since September 2008, Mr. Martin and Mrs. Puschmann have been promoting a Quebec artist who has based his studio in Europe. The newly created Lington Financial website provides an interesting view into the proposed activities of this new company which includes “Art Investment”.

The bio medical and social networking activities are particularly interesting to the blog as Mr. Ollu appeared briefly as the registrant for a domain name  for a bio medical company and UMining’s former CEO Mr. De Montigny also briefly appeared as a registrant for a domain name for a social networking enterprise.
Considering the fact that Izza Minerals (declared by He-5 Resources as its wholly owned Canadian Subsidiary) is one of the companies targeted by the  Quebec’s Bureau de décision et de révision en valeurs mobilières is still registered as being in the hands of Denyse Raynault and Jacques Vallee of Excel Gold Mining (the company which acquired the He-5 mining claims in July 2008).
This is becomes all the more interesting since Excel Gold Mining handed over a significant number of warrants to Denyse Raynault for this “transaction”:
Pursuant to an asset purchase agreement dated June 25, 2008, as amended July 22, 2008 (the “Agreement”), Excel has acquired all rights, title and interest in the Property in consideration for the allotment and issuance of 5,200,000 units (the “Units”), as opposed to the previously disclosed amount of 8,000,000 Units, each Unit comprising one fully-paid and non-assessable common share in the capital stock of the Company valued at $0.20 (the “Shares”) and one half (1/2) share purchase warrant, each full warrant (the “Warrants”) allowing its holder to purchase one Share at a price of $0.22 per Share for a period of twenty-four (24) months following the date of the execution of the Agreement (the foregoing being collectively referred to as the “Transaction”), the whole subject to regulatory approval.

Many of the claims involved in the July 2008  “transaction” have expired since their “acquisition” by Excel Gold Mining as can be seen in these screenshots of the Quebec MRNF: 
Currently, only 8 of Izza Minerals’ 40 registered mining claims are still active as can be seen in these screenshots of the Quebec MRNF:


Finally and most interestingly, the recent 9 January 2009 press release mentions that He-5 will seek debt free status in these difficult economic times.

New Management stated the following: “We are very pleased to begin our new operations and to share our visions and exclusive development program whit HE-5 Resources, Corp.’s shareholders. Our first objective was to complete a full diligent reorganizational plan, to bring the Corporation to a debt-free status, in order to start transferring new intellectual properties, assets, and potential new businesses.”

Some may recall that according to financial statements signed on 15 May 2007 by Denyse Raynault the modest sum of $970,000.00 was advanced by an unidentified benefactor, one can only wonder about the identity of this person and the level of control this person still exerts on He-5 : 



(Subject to Revision)

The sum of $970 000 was advanced by a shareholder in the form of a convertible debenture bearing interest starting March 1st, 2007, at prime +2% payable annually. The sum is reimbursable at the rate of 10% of the capital every quarter following the date when the Company starts to generate profits. The lender has the option to convert it into equity at a 20% discount commencing on the extraction phase start date.


This being said, the blog wishes to add that it is truly impressed by the signficant number of subtly misspelled names which consistently appear in press releases and filed in government documents by various Cortellazzi associates.

In SEC filings, Mr. Cortellazzi’s name appears in three (3) variants, Mr. Ouellette’s name appears in three (3) variants as well. Mr. Martin’s given name  Franck (which is quite distinctive) appears as Frank in Pink Sheets and Nevada State government documents. 

Universal Mining’s (formerly UMining) Secretary Maria Spiliopoulos (a former exec for W5 a prepaid card company which had dealings with Smart Card Marketing Systems Inc. PINKSHEETS: SMKG) appears as incorrectly as Spiliopolous in a recent press release. 

The Platters can sing the song, however the Cortellazzi Consortium are without a doubt the true masters of smoke.


December 30, 2008

UppityDate on the Court Date

Mark your calendars again, the hearing at the Bureau de décision et de révision en valeurs mobilières of RESSOURCES MINIÈRES ANDRÉANE INC., MINÉRAUX IZZA INC., HE-5 RESOURCES CORPORATION,  SERGE OLLU, DENYSE RAYNAULT, JACQUES VALLÉE, ANDREA CORTELLAZZI, MARIE-HÉLÈNE FRIGON and YVES RENAUD which was scheduled for 30 December 2008, another has been scheduled for 19 January 2009 at 09.30.

November 5, 2008

Hail, Hail, the Gang’s All Here

According to an announcement today by M45 Mining, Mr. Andrea Cortellazzi has resigned as President and CEO, the appointment of his successor taking effect in five (5) days on 10 November 2008.  

However no mention is made of Mr. Cortellazzi’s presence as shareholder, nor of his associates Mr. Serge Ollu and Mr. Jean-Michel de Montigny who appear on the following document filed at the SEC last year in which all three had significant numbers of shares in M45 Mining.

ties-that-bind Then again, it would be surprising this slip would be of significant concern to Mr. Cortellazzi and Mr. Ollu as government securities regulators in Quebec have issued a court order concerning illegal securities trading activities and ordered transaction on bank account to be frozen in regards to Ressources minières Andréane inc, Izza Minerals inc. and HE-5 Resources corporation.


Names identified in the 8 October 2008 decision of the Bureau de décision et de révision en valeurs mobilières (BDRVM) are well known to regular readers of this blog:

MONTRÉAL, le 29 oct. /CNW Telbec/ – Le 8 octobre 2008, à la demande de l’Autorité des marchés financiers, le Bureau de décision et de révision en valeurs mobilières (BDRVM) a prononcé une ordonnance de blocage et d’interdiction d’opération sur valeurs visant diverses sociétés et individus liés à la société Ressources minières Andréane inc.

    Plus spécifiquement, le BDRVM a interdit aux sociétés Ressources minières Andréane inc., Minéraux Izza inc., HE-5 Resources Corporation ainsi qu’à Denyse Raynault, Jacques Vallée, Serge Ollu, Yves Renaud et Marie-Hélène Frigon d’effectuer, directement ou indirectement, toute opération sur valeurs, notamment sur les actions de Ressources minières Andréane inc., Minéraux Izza inc., HE-5 Resources Corporation.

    Le BDRVM a également ordonné aux mêmes sociétés et individus de ne pas retirer de fonds, titres ou autres biens dans un compte ouvert dans une succursale de RBC Banque Royale.

    Le BDRVM s’est montré particulièrement inquiet des allégations suivantes soulevées par l’Autorité :

    – Les investisseurs recevraient les titres d’un émetteur dont ils n’ont jamais entendu parler;

    – Le placement des actions d’Andréane s’effectuerait sans qu’aucun prospectus soumis au visa de l’Autorité n’ait été établi;

    – HE-5 Resources Corporation et Minéraux Izza inc. fourniraient des informations fausses ou trompeuses aux investisseurs;

    – HE-5 Resources Corporation serait en défaut de ses obligations en vertu des lois américaines depuis le 6 janvier 2008;

    – Il n’y aurait pas d’information financière conforme à la Loi sur les valeurs mobilières concernant Ressources minières Andréane inc., Minéraux Izza inc. et HE-5 Resources Corporation;

   – À toute fin pratique, il serait extrêmement difficile de contacter Ressources minières Andréane inc., Minéraux Izza inc., HE-5 Resources Corporation et leurs dirigeants.

The Quebec securities decision in which Mr. Cortellazzi is also identified as a party refers to group of three (3) investors who in 2006 acquired shares in Ressources minières Andréane inc. The blog refered to this company in September 2007 as one of the claims evaluated by InnovExplo for a NI 43-101:    

The West Wind property owned by M45 Mining Resources Inc. (formerly known as Quantitative Method Corporation) represents an area of 1,368.35 hectares (61 claims; purple outline in Figure 4.2). In GESTIM, sixty-one (61) mining titles (51 claims for 811.19 hectares and 10 cells for 557.16 hectares totalling 1368.35 hectares) are registered 100% to Quantitative Methods Corporation. According to Jean-Claude Dentinger, representative of M45 Mining Resources Inc., all these mining titles are without any royalties attached. On the West Wind property, thirty-two (39) other mining titles (15 cells for 835.5 hectares and 24 claims for 363.37 hectares totalling 1198.87 hectares) are owned HE-5 Resources Corporation. In GESTIM, thirty-two (32) mining titles (24 claims for 363.37 hectares and 8 cells for 445.6 hectares totalling 808.97 hectares) are registered 100% to Ressources Minières Andreane inc. and seven (7) cells (389.9 hectares) are currently registered 100% to Marcel Roy. According to Jean-Claude Dentinger, also representative of HE-5 Resources Corporation, all these mining titles are presently under transfer to HE-5 Resources Corporation without any royalties attached. HE-5 Resources Corporation mining titles are illustrated with a grey outline in Figure 4.2.

Ressources minières Andréane inc. was listed with the Quebec securities agency however the shares were offered to these three (3) 2006 shareholders without a prospectus.

When these shareholders began to express well founded concerns about their investment in since they had never received any share certificates, they were informed to call Mr. Ollu at 514-288-0888  (on one such occasion a shareholder was refered to “Andrea”) to express these concerns and demand their money.

In May 2008, instead of receiving their investment money the shareholders received shares in IZZA minerals Inc., a company which is not registered with the Quebec securities regulator.

The IZZA share certificates issued to these shareholders were signed by Mr. Jacques Vallee,  who has recently been appointed as a director of Excel Gold Mining.

Regular readers may recall that Excel Gold Mining has been acquiring claim properties from Mr. Ollu’s wife Denyse Raynault. Interestingly, this acquisition had suffered a few issues which are mentioned in a later press release. 

Ms. Raynault is mentioned in the decision as one of the two co-signors of the Royal Bank Account which assets have been frozen. The other co-signer of this bank account is Yves Renaud, former CFO of Coastal Holdings in which Mr. Cortellazzi was the main shareholder and which Ms. Raynault’s husband Serge Ollu was an officer.

The decision also reveals the mysterious TSX venture corporation mentioned in a 26 June 2007 He-5 Resources press release and cites a 11 December 2007 press release in which the TSX corporation explains the reason for the cancellation was because the He-5 claims were not as valuable as He-5 had been touting in its press releases, neither of the properties offered up had met the minimum $100,000.00 threshold required by the TSX:

The Corporation and PrivateCo entered into an amended letter agreement on October 11, 2007 and shortly thereafter filed revised documentation with TSX Venture. After completing their review of the amended terms of the transaction and the National Instrument 43-101 geological reports regarding the properties of PrivateCo, TSX Venture advised that the properties do not meet the minimum listing requirements of TSX Venture without further exploration work. PrivateCo had previouly advised the Corporation that they and their counsel had completed this analysis, and had confirmed the properties would meet the mininum listing requirements of TSX Venture.

The decision hastens to add that no press release was ever issued by He-5 or Izza to state the transaction had been cancelled.

The decision voices profound concerns in regards to the significant number of false and misleading press releases which had been presented at the hearing held on 3 October 2008.       

The Canadian Government had been processing the dissolution of Ressources minières Andréane inc., since May 2008, it was finally dissolved on 17 October 2008 by the Canadian Government, a few days after the Quebec securities regulator’s decision was rendered.   

A Google translation of the Quebec Securities regulator’s decision is available here.

Interested parties may contact Mr. Raynald Besnier, the lead investigator at the Quebec Securities regulator (Autorité des marchés financiers (AMF)) at 1 877 525-0337

Hail, Hail, the Gang’s All Here

The Pirates of Penzance

October 24, 2008

My, What Big Teeth You Have Grandma

It appears that Messrs. Djokich & De Angelis, subjects of our last blog item have drawn the attention of the Canadian print media.

They have become front page material for Canada’s National Post  

The author of the news item is journalist Adrian Humphreys and his area of expertise is organized crime.

Mr. Humphreys knows a thing or two about organized crime in Canada having written extensively on the subject, his latest work concerns the rise of the Montreal Mafia under Vito Rizzuto 

Mr. Humphrey’s report on Messrs. Djokich & De Angelis combined with the knowledge of Mr. Humphreys area of expertise makes for a very interesting and revealing read :

Irate investors accused of hiring U. S. ‘hit man’

Adrian Humphreys,  National Post 

Published: Friday, October 24, 2008

Two Canadian businessmen have been arrested in the United States, accused of hiring a hit man to snatch a Calgary lawyer from his tropical island estate and kill him in an elaborate plot to recover millions of dollars lost in a flimsy investment.

The tale of investor revenge that was allegedly taken to a dreadful extreme includes a severed pinkie finger, a hit list of businessmen involved in half a dozen Canadian companies, and an undercover U. S. law enforcement agent posing as a hit man for hire.

“It’s very distressing,” said Richard DeVries, a lawyer from Calgary now living in the Bahamas who was the intended victim of the alleged plot.

“I am floored by it. Who would want to kill me?” he said when reached by the National Post.

According to U. S. authorities, at least two men: Nicholas Djokich, 57, of Calgary, and Eginardo De Angelis, 72, of Montreal.

They have been charged in Boston with conspiring to kidnap for the purpose of extorting money and a murder conspiracy.

The plot started on July 3 when two men went shopping for a hit man, authorities say.

In an office at Reber America Inc. in Montreal — where Mr. De Angelis worked selling furniture to hotels — someone interested in the hit met the accused men, according to U. S. allegations filed in court.

Mr. Djokich allegedly said the target was Mr. DeVries. He said Mr. DeVries, who sits on the boards of several private and publicly traded companies, was partially responsible for a loss of about US$175-million in investments, according to a sworn affidavit by Special Agent Derek Dunn of U. S. Immigration and Customs Enforcement.

Mr. Djokich gave the man a photo of Mr. DeVries, his home address in the Bahamas and documents that he said supported his claim to the money.

He asked the man to go to the Bahamas, force Mr. DeVries to wire as much of the money as possible back to him and then maybe kill him, according to Agent Dunn’s affidavit. Unknown to any of the Canadians, the man was a police informant.

After contacting U. S. authorities, the informant again met the men at Reber. There, Mr. Djokich played him a tape of a conversation purportedly between Mr. Djokich and Mr. DeVries.

In the conversation, Mr. DeVries accused Mr. Djokich of kidnapping his partner, Calgary businessman William Lenz.

After playing the tape, Mr. Djokich told the man that he had, in fact, kidnapped Mr. Lenz and said they cut off a finger to make their point, according to Agent Dunn.

Sources confirm that Mr. Lenz was indeed kidnapped in Calgary on June 23, 2006, hooded and threatened to turn over money while his pinkie was severed. The digit was later surgically reattached and no charges were ever laid.

During the ordeal, Mr. Lenz apparently tried to wire US$15-million to his tormenters, but because the bank required him to appear in person, the money was not collected. Mr. Lenz could not be reached for comment.

At the Reber meeting, the informant told the two men (ICE), authorities allege.

Mr. Djokich railed against Messrs. DeVries and Lenz.

The financial dispute is a complicated one involving an investment made through Astral Enterprises Inc. to GSF Ltd. based on a contract involving a third company named Koan Investment Corp., according to documents filed in court.

The deal apparently ran satisfactorily for some years, with wire transfers from GSF to Koan from September, 1998, to June, 2001, before running afoul.

The ICE undercover agent was then told that taking care of Mr. DeVries was only the beginning. Others, as many as five men in several countries, were the next targets of the angry investors, according to the affidavit.

“One at a time,” the agent said, according to a transcript of a recording of the meeting. The “hit man” would need to watch Mr. DeVries in the Bahamas for several days to learn his routine and would need some money to do it, the agent said.

“About 10 grand, up front, non-reimbursable, to go down and check out everything. If it works, that becomes part of the overall price,” the agent said.

“I’m thinking maybe a boat, get a boat out of the [Florida] Keys, just go east and west, you know, the Coast Guard is only looking for boats going north and south, you know, the drug runners.”

Mr. Djokich seemed keen, allegedly saying: “If he refuses and everything, f—, he’s going to the fish. It’s as simple as that.”

The undercover agent replied: “All right, ’cause at the end of the day, you make the call…. You want me to throw him overboard, I’ll throw him overboard. You want me to dust him off and put him back on the pier, I’ll do that too…. I’m like a house painter. You tell me what colour you want to paint the house.”

The men then communicated by e-mail for two weeks, authorities claim.

On Aug. 11, four men met with the undercover agent in a Vermont Starbucks. They arrived in a Buick with a Quebec licence plate. One of them was Mr. De Angelis, authorities alleged.

The agent was given a white plastic bag stuffed with US$10,000 in U. S. currency. The other men have not been charged.

This month, the agent told the two accused men that the plot was finalized, with the kidnapping ready to go when Mr. DeVries visited Florida, authorities say. At a final meeting with Mr. Djokich, the agent asked if there had been a decision on whether to kill Mr. DeVries.

“Angelo wants him wiped out,” Mr. Djokich allegedly said, using Mr. De Angelis’ nickname. They agreed to US$40,000 more as the fee, on top of the US$10,000 front money.

Mr. Djokich was arrested on Saturday in Los Angeles after flying from Calgary on a business trip.

Mr. De Angelis was arrested on Monday in Atlantic City, N. J., after arriving on a tour bus from Montreal, apparently on a pleasure trip.

Mr. DeVries said anger towards him is misplaced.

“I was simply acting as a lawyer. I received trust funds. I dispersed the trust funds and because I [moved] to the Bahamas, they reached the conclusion I must have stolen the money,” he told the Post, adding there was nowhere near US$175-million involved.

“I was simply acting as a lawyer, handling trust funds. That’s all I did. I was acting on behalf of a client…. The money was lost in a bad investment.”

The arrests bring him comfort.

“I applaud the efforts of police, believe me,” he said.

Michel Coretti, a spokesman for Montreal’s Reber America, said he knows nothing of the alleged plot, but said Mr. De Angelis is a good man and will be found not guilty.

Neither of the accused men has yet secured a lawyer to represent them in the case.  

Andrea Cortellazzi (a convicted fraudster) and his associates Jean Michel de Montigny (who has interesting friends of his own) , Serge Ollu (also a convicted fraudster) declared to have severed ties with Mr. Djokich (Trimax Capital Group) in a May 2007  U Mining (formerly Globex Inc.) press release, one of the numerous press releases issued by U Mining, M45 Mining and He-5 Resources later demonstrated to be false.   

Mr. Humphreys news report paints a very different portrait of Mr. Djokich’s self promoting biography which he provided to adorn the now defunct Trimax Capital Group website:   

“Nicholas Djokich, a successful businessman, has a career spanning over 30 years in commodities trading where he has developed a unique talent in the capital markets that has assisted him in achieving his goals. Mr. Djokich brings to the Trimax Capital Group extensive experience in the capital markets, valuable contacts, innovative ideas and leadership that is all instrumental to the achievement of the corporation’s vision and goals. Mr. Djokich has founded a number of trading companies that have proven to be beneficial to the agriculture industry in Alberta and Quebec. Together with a vast knowledge of the resource sector, and an extensive financial and technological background, Mr. Djokich is poised to lead Trimax Capital Group to success.”

Mr. Djokich’s alledged victim declared to Mr. Humphreys of the National Post this action was completely unexpected: “I am floored by it. Who would want to kill me?”  

My, What Big Teeth You Have Grandma.

July 13, 2008

A mine is a hole in the ground owned by a liar

Dave Frank, a reporter from the Nevada Appeal has filed a well researched news item in regards to the activities (or lack thereof) of He-5 Resources:

“Tracking down anyone from the company, however, can be difficult, as people found after HE-5 set up a scholarship contest through the Nevada Appeal.

It offered three $2,500 scholarships for the elementary school students who could best answer the question, “Why is mining important to Nevada?”

Winners were selected after the October deadline, but the company never paid any of the children.

Angela Frisina, whose son was selected as one of the winners, said she talked with representatives from the company a few times, but only got empty promises.

It was frustrating not being able to force the company to cooperate, she said.

“It’s not like I can go in their door, sit on their desk and say, ‘Cough it up.'”

The only purpose of the scholarship offer was to provide Serge Ollu and Andrea Cortellazzi with a means to shore up their lack of credibility with investors.

The Nevada Appeal item makes for an interesting read when correlated with He-5 Resources’s unaudited 2007 financial statements which appeared on the He-5 Resources website until recently.

This being said, regular blog readers will not be surprised to discover the He-5 Resources is once again unavailable and “under construction”.

Recently, Mr. Cortellazzi CEO of M45 Mining filed the M45 Mining annual report and three significant financial restatements with the SEC.

The restatements are for the June 30, 2007 quarterly report, September 30, 2007 quarterly report and December 31, 2007 quarterly report.

In the December 31, 2007 quarterly report, Mr. Marcel Roy’s Exploration Miniere Grenville is mentioned as having sold claims to M-45 Mining:

“On October 9, 2007, M45 management finalized the acquisition of 160 mining titles covering a total area of 8,935 Hectares in the East area of the Matagami Mining Camp. The mining titles were acquired from “Miniere Grenville,” a Canadian Corporation, for a total nominal consideration of One Million Two Hundred and fifty thousand dollars payable in common shares at a set price value of $ 0.20 for a total number of restricted shares of 6,250,000. This acquisition is a key milestone of the “East Wind” phase of the Company’s business development program.”

In M-45 Mining’s annual report, Exploration Miniere Grenville (Mr. Marcel Roy) now appears as a 19.6 % shareholder of M-45 Mining :


M-45 Mining is currently reporting a net loss of $6,378,284.

Mr. Cortellazzi had originally reported a deficit of $1,809,167, the December 31, 2007 indicates a significant increase in the deficit of $4,569,117.

Readers new to the blog may wonder why M45 Mining and He-5 Resources are both mentioned in this item.

Andrea Cortellazzi, Serge Ollu and Jean Michel de Montigny are closely associated in many activities which often intersect.

Mr. Serge Ollu and Mr. Jean Michel De Montigny (former CEO of Umining and current CFO of Comitrag) are not mentioned in the 2007 and 2008 M-45 mining annual reports, nor are they mentioned anywhere else as directors or officers of M-45 Mining.

However, Mr. Ollu and Mr. De Montigny appear to have been significant shareholders of M-45 Mining since 15 August 2007 according to this document filed with the SEC in 2007:

Hopefully, shareholders of Excel Gold Mining Inc. will take note of the well researched Nevada Appeal article in light of the recent transaction concerning the sale of 117 claims by Serge Ollu’s wife:

Acquisition of a mining property in Montauban (Batiscan)

Excel Gold Mining Inc EGM
7/8/2008 11:21:29 AM
QUEBEC CITY, Jul 7, 2008 (Canada NewsWire via COMTEX News Network)

EXCEL GOLD MINING INC. (TSX Venture: EGM) Excel Gold Mining Inc. (herein referred to as “Excel” or the “Company”), announces that it has reached an agreement to acquire 100% interest in a mining property in Montauban (Batiscan), Province of Quebec (the “Property”), from Mrs. Denyse Raynault, residing at 1420, Bernard Avenue West, Suite 17, Outremont, Province of Quebec, H2V 1W3, a party dealing at arm’s length with the Company, further to a letter of intent disclosed in the Company’s June 4, 2008 press release.

Pursuant to an asset purchase agreement dated June 25, 2008 (the “Agreement”), Excel has acquired all rights, title and interest in the Property in consideration for the allotment and issuance of 8,000,000 units (the “Units”), each Unit comprising one fully-paid and non-assessable common share in the capital stock of the Company valued at $0.20 (the “Shares”) and one half (1/2) share purchase warrant, each full warrant (the “Warrants”) allowing its holder to purchase one Share at a price of $0.22 per Share for a period of twenty-four (24) months following the date of the execution of the Agreement (the foregoing being collectively referred to as the “Transaction”).

The Shares and Warrants shall be issued in reliance of the exemption set forth in Section 2.13 (shares issued in consideration for the acquisition of a mining property) of Regulation 45-106 respecting prospectus and registration exemptions (Quebec).

The Property

The Property claims consist in the mining rights relating to a property called “Montauban” which is composed of 117 mining titles covering 4,603.78 hectares (the “Mining Titles”). The Property is located in the Montauban and Chavigny region together with the west section of La Seigneurie de Grondines, Comté de Portneuf, Province of Quebec, at 120 km west of the City of Quebec and 50 km north east of the City of Trois-Rivieres, Province of Quebec.

A formal technical report was prepared pursuant to Regulation 43-101.respecting standards of disclosure for mineral projects with respect to the Mining Titles, identifying gold, silver, copper, zinc and lead as the minerals present therein.

Excel Gold Mining and He-5 shareholders may find interesting that Ms. Raynault stated 6 months ago in a 27 February 2008 press release that she was stepping down from the He-5 CEO position:

HE-5 also announced that Chief Executive Officer Denyse Raynault has expressed an intention to resign from her position. Ms. Raynault stated that she intends to step down from the CEO position so that someone with greater expertise in the international mining industry assumes the leadership role of the Company. She believes that a new more experienced CEO who has a wider network of contacts in the worldwide mining community would significantly benefit HE-5 and facilitate its mission to become an important player in the global mining industry.

The blog concurs with Dave Frank of the Nevada Appeal as he quotes Mark Twain:

“A mine is a hole in the ground owned by a liar,”

October 29, 2007

The Water Boys

Today’s blog item will focus on the Cortellazzi bottled water ventures and their figureheads, Horace A. Sirois and Allain Barriere, the Water Boys.

The Cortellazzi Consortium’s current bottled water venture Canadian Blue Gold actually has it’s origins well before the first Coastal Holdings bottled water press release in 2007.

Troubled Waters

The story actually begins in 2002 when Parmalat, the Italian dairy company, opened its first bottled water business in Canada under the Eaux Vives Harricana (EVH) in the small community of St-Mathieu-de-l’Harricana which is located about 10 km from Amos in Northern Quebec.

The bottled water was being marketed under the “ESKER “brand name in order to tie into the product’s source.

The business started off badly almost immediately as Parmalat became embroiled in a legal battle with Agrinove, it was all downhill after that with the bottling plant closing it’s doors in 2004.

The bottled water business is highly competitive and Parmalat found out just how competitive it could be after having sunk over 107 million over 3 years in the plant and still owed over 100 million after it closed the doors on the state of the art plant.

Things appeared to brighten for the plant’s survival when in September 2005, a Quebec Court Judge accepted the sale of the plant to a subsidiary of Morgan Stanley for 18 million, a fraction of what Parmalat had invested.

However, this wasn’t easy as the legal restructuring by Eaux Vives Water Inc., (owned by Morgan Stanley Principal Investments, Morgan Stanley’s wholly owned principal investing division) continued well into 2006.

In September 2005, during the restructuring period a very large bottled water contract with China by Eaux Vives Water Bottling (the Morgan Stanley subsidiary) had been touted in the Quebec media during one of the Canadian trade missions with Premier of Quebec, Jean Charest.

Representing Eaux vives Water Bottling on this trade mission was Mr. Horace Alain Sirois (who until recently was a CEO of Mr. Cortellazzi’s Coastal Holdings) :

“Rejoint à Shanghai, le président du Bureau mondial du développement des affaires, Horace Sirois, s’est réjoui de cette entente: « Les Chinois cherchaient une eau de qualité et ils veulent en faire un produit de distinction », dit-il.

L’accord commercial survient au moment même où un nouveau promoteur, Eaux vives Bottling Water, se prépare à relancer l’usine exploitée par le géant italien Parmalat, avant la déconfiture de ce dernier en bourse.”

Les revenus découlant de cette entente pourraient rapidement dépasser les 200 millions de dollars.”

In October 2005, the highly touted Chinese mega deal of 10 million cases of bottled water inked a month previously had been reduced to a very modest 600,000 cases:

“Ce contrat, annoncé à l’occasion de la récente mission économique du premier ministre Jean Charest en Chine, est toutefois beaucoup plus modeste que ce qui a été annoncé, a précisé Ghislain Gauthier. Il porte sur 600 000 caisses par année plutôt que sur 10 millions de caisses.

By January 2006, the Chinese had decided not to honour the contract order.

In 2007, the well known Quebec business magazine, Les Affaires viewed the sale as a complete failure:

Il s’agit d’une modeste reprise de l’activité d’embouteillage dont la production est avant tout destinée au marché régional puisque de prometteuses commandes chinoises ne se sont pas encore concrétisées.

À l’automne 2005, un accord portant sur l’exportation de 10 millions de caisses de 24 bouteilles d’eau québécoise, d’une valeur de 60 M$, avait constitué le haut fait de la mission commerciale en Chine dirigée par le premier ministre, Jean Charest, et suscité l’espoir d’une reprise rapide à l’usine abitibienne.

The Water Boys

The first Water Boy is Mr Horace Alain Sirois.

Mr. Sirois is the CEO of WORLD BUSINESS DEVELOPMENT BUREAU (BMDA) INC. which was incorporated by Federal charter in Canada on 16 February 2004.

Just after the highly touted and failed Chinese “Esker” water deal in 2006, things began to go badly for Mr. Horace A. Sirois.

In January 2007, the Caisse Populaire Desjardins de Joliette (for those unfamiliar with Quebec, the Caisse Populaire is a financial institution akin to a Credit Union) undertook a lawsuit against Mr. Sirois and his company World Business Development Bureau for $32,106.28 (Quebec court docket: 705-22-008212-076) which Mr. Sirois lost by default in May 2007 (a execution writ was later issued on 15 August 2007).

This wasn’t the first time Mr. Sirois had been sued by a bank. In June 2000, another Caisse Populaire (Caisse Populaire Desjardins de la Haute Matawanie, Quebec Court docket: 705-22-003161-005) sued Mr. Sirois and obtained a judgment by default for $26,695.00 in January 2001.

In February 2007, soon after the lawsuit was initiated by the Caisse Populaire Desjardins de Joliette, Coastal Holdings announced it was in the process of a reverse merger with a water distributing company called Aqua Gold International, Inc.

Aqua Gold International’s water supply was located in Mohawk Nation Territory of Akwesasne and it was targeting the Asia-Pacific bottled water market. The press release stated their product was “distributed to superstores such as Wal-Mart, grocery stores, convenience stores and gas stations.” under the “Canadian Indian” brand.

In April 2007, it was announced by Coastal Holdings that the existing Aqua Gold President had been replaced with Mr. Horace A. Sirois, President and CEO of the World Business Development Bureau (WBDB). The press release went on to tout Mr. Sirois in glowing terms adding that he had been hired by Aqua Gold for a 5 year period:

“Aqua Gold has offered Mr. Sirois a 5 year contract and, upon signature of the contract, Mr. Sirois will replace Mr. Da Silva who has served as President since the inception of the Company.”

The same press release went on to glorify the failed September 2005 Chinese mega water deal as a success story:

“Mr. Horace A. Sirois is currently President and CEO of the World Business Development Bureau (WBDB – He is also an active member of the Canada China Network Council (CCNC), and has successfully executed several trading contracts and land development projects in China. In particular the honourable Prime Minister of Quebec Jean Charest, during his economic mission in China, was proud to announce the largest contract in bottled water industry ever made between Canada and China; which was executed by WBDB. Mr Sirois is a highly experienced public servant who has held various senior executive positions in both the public and private sectors. “

As the boldness of the Cortellezzi Consortium knows no bounds, more “mega deals” were announced.

Barely 5 days later, Coastal Holdings released another announcement stating it had completed a two-year distribution contract via the delivery of 5 million cases of its premium bottled water in the Asia-Pacific region.”

Mere days after that, an even larger contract announced: “has signed a one-year distribution contract for the delivery of 15 million cases of its premium bottled water in Beijing, China.”

The month of April had yet to conclude when on 26 April 2007, Coastal Holdings announced a new slate of directors which intimated that Mr. Cortellazzi and Mr. Sirois who had recently signed a 5 year contract with Aqua Gold had resigned (or been ousted) from the Coastal Holdings board : “New Management would like to take this opportunity to thank Coastal Holdings’ previous management for providing Aqua Gold with the opportunity to become publicly trading and wishes them success in their future Endeavour’s.”

However, the Cortellazzi Consortium had another plan in mind. Days after the announcement, Mr. Sirois filed a corporate name reservation (3 May 2007) in Nevada for “Aqua Gold International Inc.”

With the knowledge that Aqua Gold had been moving forward on the contracts, the Cortellazzi Consortium moved in on 11 May 2007 by cancelling the merger and claiming in a press release that Aqua Gold had misrepresented the Asian contracts, going so far as to intimate a law suit was imminent.

The announcement went on state that Mr. Horace A. Sirois had been to restored as CEO of Coastal Holdings and of course the press release reiterated the failed September 2005 Chinese mega deal in glowing terms.

Interestingly, it is on this occasion which Water Boy number 2, Mr. Allain Barriere the current CEO of Canadian Blue Gold appears in his first press release:

“Coastal Holdings, Inc. Announces Cancellation of Reverse Merger with Aqua Gold
Cancellation due to Aqua Gold’s Breach and Misrepresentation of China Water Distribution Contract

HOUSTON, TX, May 11 /PRNewswire-FirstCall/ – Coastal Holdings, Inc. (PINKSHEETS: COHG – News) today announced, pursuant to the approval of a majority of its shareholders, the cancellation of the reverse merger agreement with Aqua Gold. This decision was based on critical information received from WBDB Inc. with respect to the true ownership of the water distribution contract recently disclosed by Aqua Gold. This information exposed a breach and misrepresentation of contract on the part of Aqua Gold International, Inc. Due to the significant negative impact of this misrepresentation, which could be construed as defamation of character, Coastal Holdings’ management is seriously considering taking legal recourse against these actions of Aqua Gold and its principals.

Furthermore as a result of this cancellation and according to majority shareholder consensus, Coastal Holdings has decided to not retain the following three previously announced Board members: (1) Mr. Gerald Enloe, Chairman of the Board; (2) Mr. Paul A. Taillefer, Chief Operating Officer; and (3) Mr. Daniel Sauve, Chief Financial Officer. Effective immediately, Mr. Horace Sirois has been appointed as Chief Executive Officer and Chairman of the Board of Coastal Holdings, Inc.

Pursuant to these extraordinary events, Coastal Holdings in conjunction with Mr. Horace Sirois has agreed to sign a direct licensing agreement concerning WBDB Inc.’s water distribution contracts in China. Further details will be disclosed in short order upon the signing of the agreement. The Company will take all the necessary steps to support the development of Mr. Sirois’ long-term and well-established relationship with China-based companies.

Finally, Coastal Holdings announced that it will take immediate action to terminate the dumping of shares by Aqua Gold’s principals in order to protect the interests of its shareholders.

Mr. Horace A. Sirois is currently President and CEO of the World Business Development Bureau (WBDB – He is also an active member of the Canada China Network Council (CCNC), and has successfully executed several trading contracts and land development projects in China. In particular the honorable Prime Minister of Quebec Jean Charest, during his economic mission in China, was proud to announce the largest contract in bottled water industry ever made between Canada and China; which was executed by WBDB. Mr. Sirois is a highly experienced public servant who has held various senior executive positions in both the public and private sectors.

For more information on Coastal Holdings, Inc. please contact Mr. Alain Barriere at (514) 977-1271.”

Aqua Gold International was taken completely by surprise and resorted to enunciating their position on a message board. The same day, Aqua Gold International Inc. through it’s co-founder and executive vice-president Marc-Olivier Hassoun intimated on the Investors Hub Coastal Holdings message board that Aqua Gold would initiate legal proceedings as well:

“Aqua Gold International Inc. confirms contractual validity with WBDB and legal action against Horace Sirois president and CEO of WBDB.

Legal action will be taken against WBDB for breach and Misrepresentation of China Water Distribution Contract to Coastal Holdings Inc.

May 11, 2007 / In response to Coastal Holdings Inc. press release of today, Aqua Gold International Inc. announces that it will be taking legal action against the WBDB for its misrepresentation of contractual facts. Aqua Gold International will take all necessary legal action to enforce the validity of its subsidiary company’s contractual agreement with WBDB. Aqua Gold International’s subsidiary company has exclusive distribution rights for the fulfillment of WBDB’s contract for 65 millions cases of water and has ownership of 50% of all profits from the fulfilment of this contract. Any alleged agreements pertaining to this specific contract of 65 millions cases water are without legal effect.

Aqua gold International Inc. “

Neither party went to court, neither party expanded on the dispute and the 11 May 2007 post by Aqua Gold International Inc. was the first and only post it ever made.

Enter Canadian Blue Gold

On 21 May 2007, the wheels were set in motion for Mr. Barriere to enter the stage.


A domain name was registered for Norwa water (a website has yet to appear), Mr. Barriere then reserved the corporate name CANADIAN BLUE GOLD INC. in the State of Nevada on 22 May 2007, mere days after the merger cancellation announcement. The same day a press release was issued installing Mr.Barriere as CFO of Coastal Holdings.

According to the same press release, Mr. Cortellazzi had relinquished his majority shareholder position in Coastal Holdings to “Norwa Water” a Canadian Corporation which according to the press release Allain Barriere (a former Ouranos Resources alumni) is president :

May 22, 2007 – 12:29 PM EDT

Coastal Holdings, Inc. Announces Sale of Control Position to Norwa Water and Appointment of Mr. Allain Barriere as Chief Financial Officer – Company Intends to File Name Change Documents this Week

HOUSTON, TX, May 22 /PRNewswire-FirstCall/ – Coastal Holdings, Inc. (PINKSHEETS: COHG – News) today announced the sale of the control block owned by Andrea Cortellazzi et al. to Norwa Water, a Canadian Corporation specialized in water distribution and bottling; and the appointment of Mr. Allain Barriere as Chief Financial Officer.

Mr. Horace A. Sirois, Coastal Holdings’ recently appointed CEO and acting President and CEO of the ‘World Business Development Bureau’ (WBDB –, stated the following: ‘Mr. Barriere and I have been working diligently for the past week, with the involved parties and partners, to reorganize the Company and unify the group under one main banner, in order to achieve our goal to become one of the best-selling brands of bottled water in the Asia-Pacific region.’

Mr. Allain Barriere, President of Norwa Water, indicated the following: ‘I consider my group privileged to have the opportunity to become a partner in Mr. Sirois’ projects in China. Our immediate goal is to structure the Company to allow WBDB, The Chinese Partners and the Water manufacturer to all become partners in the new Venture and to sign partnership agreements to this effect.’

The Company is also pleased to announce that it will file the necessary documents this week in order to file for name change, new CUSIP number and trading symbol.”

Notwithstanding, the assertion in the press release Mr. Cortellazzi did retain a significant amount of shares in Coastal Holdings as this 8 August 2007, SEC filing for M45 Mining reflects (see graphic below).


Interestingly, after Mr. Barriere reserved the corporate name on 22 May 2007 as CANADIAN BLUE GOLD INC., two days before the name reservation expired, Coastal Holdings re-emerged on 23 Aug 2007 as CANADIAN BLUE GOLD, INC. , the comma after the word “Gold” summons curiosity because in a 5 September 2007 press release the comma is absent:

HOUSTON, TX–(Marketwire – September 5, 2007) – Coastal Holdings, Inc. (PINKSHEETS: COHG) today announced that it has officially changed its corporate name in the State of Nevada to “Canadian Blue Gold Inc.”

Both Nevada registrations list Mr. Barriere’s home address, 6 rue de St-Ours, St-Jean sur Richelieu from which his wife (also listed as a former Ouranos Resources shareholder) runs a food supplements business.

Prior to his elevation to CFO of Coastal Holdings, Mr. Barriere’s attention was focused on other things in the form of a lawsuit undertaken against him for hidden defects which had begun in January 2007 (Quebec Court docket: 755-32-005936-077). The lawsuit cites Mr. Barriere’s home address (6 rue de St-Ours, St-Jean sur Richelieu) and was settled out of court on 3 May 2007 for $7,000.00 after the plaintiffs refused to mediate.

This type of complaint would not be unusual for Mr. Barriere since he has more than one occupation, he’s a used car salesman as you can see for yourself from a recent online listing (which appears in the graphic below) he was offering a 2001 Audi in August 2007.


Car sales must have been slumping in early 2007 , because Mr. Barriere appears to have been short on cash in January having posted his heating pump for sale online during a very cold Canadian winter.

The cycle of outlandish mega deal press releases began in earnest in May 2007 with Mr. Barriere stating he was travelling to Algeria to promote the distribution of Coastal Holdings, Inc. of “Canadian Indian Spring Water” :

“Mr. Barriere stated: “I am honored to be part of this mission under Coastal’s new banner ‘CANADIAN BLUE GOLD Inc.‘ and to enter this niche market with such a great product as Canadian Indian Spring Water. With the full collaboration and support of WBDB’ s staff and assistance of Canadian Indian’s team,”Not the “Norwa Water” brand which Mr. Barriere mentions in the Coastal Holdings press release of 22 May 2007 , but “Canadian Indian Bottled Water” which bears a striking resemblance to the brand name which was previously stated February 2007 Coastal Holding press releases as Aqua Gold’s brand.

Days later, on 31 May 2007 Coastal Holdings was announcing the first of 2 mega deals by Mr. Horace Sirois:

“CEO Mr. Horace Sirois Completes First Part of Commercial Mission with Signing of Landmark 5-year Contract in Shanghai

HOUSTON, TX, May 31 /PRNewswire-FirstCall/ – Coastal Holdings, Inc. (PINKSHEETS: COHG – News) today announced that CEO Mr. Horace Sirois has signed a 5-year distribution contract with a Shanghai, China-based distributor to sell 65 million cases, composed of 24 500mL bottles per case, of “Canadian Indian Spring Water”.

The second Coastal Holdings announcement on 18 June 2007 appears remarkably similar to the first is for another mega deal with China deal by Mr. Sirois for 65 Million cases

Both are significantly reminiscent of Mr. Sirois’ 2005 Eaux Vives Water Inc deal which never came to fruition, both press releases mention the product brand “Canadian Indian Spring Water.” and the terms of both contracts are nearly identical :

“CEO Mr. Horace Sirois has signed a 5-year distribution contract with a Shanghai, China-based distributor to sell 65 million cases, composed of 24 500mL bottles per case, of “Canadian Indian Spring Water”.

“The 5-year distribution contract was signed with a Beijing, China-based distributor to sell 65 million cases, composed of 24 500mL bottles per case, of “Canadian Indian Spring Water.” The total value of the agreement represents recurring revenues of more than $400 million over a 5-year period. “

The first deal was reported by the Chinese media in the vaguest of terms:

“BEIJING (XFN-ASIA) – Coastal Holdings Inc said it has signed a five-year 400 mln usd deal with a Shanghai-based distributor to sell 65 mln cases of Canadian Indian Spring Water in China.

The Chinese distributor was not named in the company statement.

Houston-based Coastal Holdings also announced it has applied to change its company name to Canadian Blue Gold Inc.

No additional details were provided.”

A consistent point which flows through the 31 May and 18 June 2007, Coastal Holdings press releases in which Mr. Sirois is a central figure and the Aqua Gold 11 May 2007 message board posting which claims belonged to its unnamed subsidiary, is the same quantity of water which is 65 million cases of water.

“Aqua Gold International’s subsidiary company has exclusive distribution rights for the fulfillment of WBDB’s contract for 65 millions cases of water and has ownership of 50% of all profits from the fulfilment of this contract. Any alleged agreements pertaining to this specific contract of 65 millions cases water are without legal effect.

On 18 June 2007, Coastal Holdings announced rather confusing press release stating the delivery process of the first order of 65 million cases,destined for Shanghai had begun for 1,000,000 cases of “Canadian Indian bottled water” but in Beijing, China.

The press release indicates it wasn’t quite a done deal:

“CEO Mr. Horace Sirois has finalized all the labeling design and printing matrix, which constituted one of the last conditions required to be met in order to secure the approval of the Chinese distributor. Pursuant to this approval, the Company will ship 1 container totaling 2,000 cases of bottled water for duties and customs settings and permits.”

The 18 June 2007 press release is the last press release which mentions Mr. Horace Sirois and his company, World Business Development Bureau.

Days before, Caisse Populaire Desjardins de Joliette had obtained judgment for $32,106.28 (Quebec Court docket: 705-22-008212-076) against Mr. Horace Sirois and his company, World Business Development Bureau for which an execution order was later issued against both Mr. Horace Sirois and his company on 15 August 2007.

It’s rather revealing that someone who purportedly had just signed not one, but 2 multi million dollar mega deals in China was unable to secure the confidence of his financial institution for a comparatively modest sum.

The next press release on 28 June 2007 omitted Mr. Sirois all together. On this occasion the “Norwa” brand water is mentioned:

” The Company will shortly launch its new Brand name design ‘Norwa’; the Corporate Web site is in the final stages. Upon approval of name and symbol changes by regulating authorities, investment groups’ outlook is very positive. This will allow ‘Canadian Blue Gold Inc.’ to significantly expand its working capital.

“Furthermore management understands fully that the road to success in today’s market is in acquisitions of numerous water plants and distribution companies in Quebec in order to construct a high quality asset. Today’s market movers are based on takeovers which is exactly what Canadian Blue Gold has in its mind.”

A rather clever idea, since Eaux Vives Water Inc., the company who Mr. Sirois had represented in the failed 2005 Chinese mega deal had started a media campaign blitz in Quebec for it’s brand “ESKA”.

On 20 August 2007, days after the judgment execution writ (Quebec Court docket: 705-22-008212-076) had been issued against against Mr. Horace Sirois and his company, Coastal Holdings announced the nomination of Mr. Allain Barriere as Chief Executive Officer and appointment of new members to board of directors, one them being a lawyer.

A few days later, it was announced that a “branch” office would be opened in Orlando, Florida.

It should have come as no surprise to most Cortellazzi Consortium watchers when on 17 september 2007, it was revealed that a familiar member of previous De Montigny ventures, Michele Minville of Florida was appointed.

The blog will discuss these appointments at a later time.

One of the more telling statements of the 17 September 2007 press release was the correction:

“Correction: On August 20, 2007 the Company announced the appointment of Mr. Luc Bellemare, attorney, as Chairman of the Board. The announcement was not approved by Mr. Bellemare who declined the offer. Management would like to apologize for this error and ensure that this unfortunate misinterpretation is corrected.”

On 24 September 2007, a press release heralds the “new” bottle water brand and it’s origin:

Canadian Blue Gold Inc. Launches New Brand of Bottled Water “NORWA”

HOUSTON, TX–(Marketwire – September 24, 2007) – Canadian Blue Gold Inc. (PINKSHEETS: COHG) today announced the official launching of its new Brand of Bottled Water called “NORWA.” For further information, we invite our shareholders to visit the recently launched corporate website at:

CEO Mr. Allain Barriere stated the following: “We are very proud to release the first brand in our family of water products: ‘NORWA.’ Pure fresh spring water, sourced from Northern Quebec, Canada. The water qualifies among the best in the world for its taste and quality specifications. The current format is 500 mL and we are negotiating a packaging agreement with a manufacturer of recyclable products to provide our clientele with the best product on the market that is also environmentally friendly.”

Remarkably, it appears that” Norwa” is from the same area of Quebec as “Eska” well known to the previous CEO Horace A. Sirois since the highly touted China mega trade deal of 2005.

On Oct 18, 2007 , the Coastal Holdings (COHG) symbol had ceased and Canadian Blue Gold Inc. commenced trading under the new stock ticker symbol CBGC.

The location which Canadian Blue Gold Inc. currently lists on its website (see graphic below) as its corporate HQ in Quebec is 823B St-Jacques Street, St-Jean Sur Richelieu, Quebec.


Canadian Blue Gold Inc. which purports to have signed 2 mega deals for over 130 million cases of bottled water to China has its corporate headquarters located next door to a small neighborhood barber shop (Coiffure Au Masculin, 823 St-Jacques, Saint-Jean-sur-Richelieu– graphic below) in a small Quebec town .


Water Exports

The rosy picture on water exports which paints Canadian Blue Gold and others for that matter doesn’t reflect reality. The beverage industry, in particular the bottled water trade in Canada is a highly competitive and regulated industry as Parmalat discovered to their chagrin.

Moreover, the current prevailing attitudes in Canada concerning water resources as a whole have changed over time, in particular after the contamination crisis which occurred in Walkerton, Ontario in May 2000.

Shortly after the Walkerton crisis, a shift of attitude towards water resources by the Canadian government. In 2001 the Canadian government indicated it would not support bulk water exports.

In 2004 concerns about Canada’s water resources began to receive even more media coverage. Some of the long standing water resource concerns between the United States and Canada were addressed in a international treaty in 2005.

Concerns are began to raise once again in Canada about water resources, this 12 October 2007 media coverage reports the shock and concerns by Lake Superior residents in regards to the rapid loss of water in the largest fresh water lake which straddles the Canadian US border.

Just a few days ago, the Canadian media reported the results of a newly created Canadian think tank:

“Abundance of freshwater ‘a myth’ – Threats to drinking supplies are real and many, new group says in report to be released today.”

In conclusion, the blog wishes to remind everyone of the wise old chinese proverb which appears on the”Eska” website.

“When you drink the water, remember the source”

September 2, 2007

The Ties That Bind

The Cortellazzi Consortium have made their association more visible since this blog appeared on 25 August 2007.


The document above (click on graphic for larger view) was filed by M45 Mining with the SEC on August 28th 2007 . The filing bears the date of 15 August 2007 and the signatures of Andrea Cortellazzi (M45 Mining), Jean Michel de Montigny UMining) and Serge Ollu (He-5 Resources).

However, it was only submitted 13 days later on 28 August 2007.

The previous filing which is dated 20 August 2007 was filed the very next day on 21 August 2007.

Why was the 28 August 2007 filing which bears the date of 15 August 2007 submitted after the filing which bears 20 August 2007, a later date ?

I would suspect it has something to do with the concern of these Montreal visitors who’s IP’s have appeared on this blog’s statistics : – which remained on this blog for 14 hours 48 mins 23 secs – which remained on this blog for 22 hours 57 mins 25 secs

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