March 20, 2008 Securities

Montréal – The Autorité des marchés financiers (AMF) has launched penal proceedings in the Court of Québec (Criminal and Penal Division), district of Montréal, against Edward Ronald Greeley and is seeking a total fine of $72,000, which is twice the minimum fine.

As part of the proceedings, the AMF filed 12 charges against Edward Ronald Greeley for violating the Securities Act (R.S.Q. c V-1.1) (the "Act"):

• by aiding, by act or omission, Bear Bay Financial Services Inc. and Eurovision Financial Services Ltd. in making a distribution of a form of investment subject to the Act, namely, promissory notes, without obtaining a prospectus from the AMF, thereby violating section 11 of the Act (6 counts);
• by acting as a securities adviser without being registered with the AMF, thereby violating section 148 of the Act (6 counts).

For exemplary reasons, the AMF is seeking a total fine of $72,000, plus costs.

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

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