Montréal - The Autorité des marchés financiers (the AMF) has launched penal proceedings against Albert Barbusci, Cadence Holdings inc., Roxanne Cléroux, 9033-2743 Québec inc., Martin Normand and Daniel Bélanger1 involving 34 charges and is seeking $301,000 in fines relating to the sale of shares of a company that was called Biotonix inc. at the time of the events at issue.

Albert Barbusci is facing five charges and a $52,000 fine for aiding Cadence Holdings inc., of which he is the majority shareholder and president, with illegal distributions of shares of Biotonix inc., carrying on business as a securities dealer without being registered with the AMF and soliciting investors. The AMF is filing two charges and also seeking a $40,000 fine against Cadence Holdings inc. for the illegal distribution of shares of Biotonix inc.

Daniel Bélanger is facing nine charges and a $63,000 fine for illegally distributing shares of Biotonix inc., carrying on business as a securities dealer without being registered with the AMF and making misrepresentations that Biotonix inc. would be listed for trading.

Roxanne Cléroux is facing eight charges and a $60,000 fine for aiding 9033-2743 Québec inc., of which she is the majority shareholder and president, making illegal distributions of shares of Biotonix inc., carrying on business as a securities dealer without being registered and making misrepresentations that Biotonix inc. would be listed for trading. The AMF has filed two charges and is seeking a $30,000 fine against 9033-2743 Québec inc. for the illegal distribution of shares of Biotonix inc.

Finally, the AMF has filed eight charges and is seeking a $56,000 fine against Martin Normand for illegally carrying on activities as a dealer and the illegal distribution of shares of Biotonix inc.

The AMF's investigation shows that 14 investors invested over $313,000 in Biotonix.

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

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1 The respondent Daniel Bélanger should not be confused with Daniel Bélanger, Financial Planning Representative, Dealing Representative (Mutual Fund Dealer) as well as Group Insurance and Group Annuity Plans Advisor and Insurance of Persons Representative, holder of certificate no. 102030 (NRD 1518361).