Montréal - The Autorité des marchés financiers ("AMF") has instituted penal proceedings against Joël Gauthier under section 27.15 of An Act respecting contracting by public bodies. Joël Gauthier faces a minimum fine of $5,000.

The investigation revealed that Joël Gauthier made a misrepresentation to the AMF in connection with an application for authorization filed by Hexagone in April 2013.

The investigation was launched further to new information sent to the AMF that was not available at the time the authorization was granted to Hexagone.

In June 2014, Joël Gauthier withdrew from share ownership in Hexagone, from its board of directors and its management.

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

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