September 25, 2008 Securities

Montréal – The Autorité des marchés financiers ("AMF") launched penal proceedings in the Court of Québec (Criminal and Penal Division), districts of Laval and Longueuil, against Sebastian Mecca, Frank Mastrocola, Roberto Pistilli and Peter Krauth, and is seeking fines totalling $634,000 in this matter.

In its suit against Sebastian Mecca, president of Acamex Capital Corporation ("Acamex"), the AMF filed 24 charges and is seeking fines totalling $272,000, namely, four times the minimum fine set out in the Securities Act ("Act"), for:

• acting as a dealer without being registered as such with the financial market regulatory authority, thereby violating section 148 of the Act (13 counts);
• aiding, by act or omission, Acamex and Bridge Management (Barbados) Inc. in making a distribution of a form of investment governed by the Act without a prospectus receipt from the financial market regulatory authority, thereby violating sections 11 and 208 of the Act (8 counts);
• making misrepresentations to investors, thereby violating subparagraph 1 of section 197 of the Act (3 counts).

In its suit against Frank Mastrocola, the AMF filed 29 charges and is seeking fines totalling $194,000, namely, double the minimum fine set out in the Act, for:

• acting as a dealer without being registered as such with the financial market regulatory authority, thereby violating section 148 of the Act (12 counts);
• aiding, by act or omission, Acamex, Bridge Management (Barbados) Inc. and Opus Management Capital Ltd. in making a distribution of a form of investment governed by the Act without a prospectus receipt from the financial market regulatory authority, thereby violating sections 11 and 208 of the Act (12 counts);
• making misrepresentations to investors, thereby violating subparagraph 1 of section 197 of the Act (5 counts).

With respect to Roberto Pistilli, the AMF filed 15 charges and is seeking fines totalling $86,000, namely, double the minimum fine set out in the Act, for:

• acting as a dealer without being registered as such with the financial market regulatory authority, thereby violating section 148 of the Act (8 counts);
• aiding, by act or omission, Acamex, Bridge Management (Barbados) Inc. and Opus Management Capital Ltd. in making a distribution of a form of investment governed by the Act without a prospectus receipt from the financial market regulatory authority, thereby violating sections 11 and 208 of the Act (6 counts);
• making misrepresentations to investors, thereby violating subparagraph 1 of section 197 of the Act (1 count).

The AMF filed 13 charges against Peter Krauth and is seeking fines totalling $82,000, also double the minimum fine set out in the Act, for:

• acting as a dealer without being registered as such with the financial market regulatory authority, thereby violating section 148 of the Act (6 counts);
• aiding, by act or omission, Acamex, Bridge Management (Barbados) Inc. and Opus Management Capital Ltd. in making a distribution of a form of investment governed by the Act without a prospectus receipt from the financial market regulatory authority, thereby violating sections 11 and 208 of the Act (6 counts);
• making misrepresentations to investors, thereby violating subparagraph 1 of section 197 of the Act (1 count).

The AMF is seeking fines exceeding the minimum fines set out in the Act for deterrence purposes and the protection of investors. The AMF has also considered the amount of the investments in determining fines.

The Autorité des marchés financiers (AMF) is the regulatory and oversight body for Québec’s financial sector.

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