Securities Decisions and Freeze and cease trade orders

Montréal – The Autorité des marchés financiers (AMF) has launched penal proceedings before the Court of Québec (Criminal and Penal Division) in the judicial districts of Rimouski and Laval against Prospection 2000 inc., Société de Prospection de la Péninsule Gaspésienne inc. and Bernard Gagnon.

The AMF has filed eight charges against Prospection 2000 inc. for violating the Securities Act R.S.Q., c. V-1.1 (the “Act”) by:

  • proceeding with the distribution of a form of investment governed by the Act without a prospectus approved by the AMF in accordance with section 11 of the Act.

The AMF has filed 18 charges against Société de Prospection de la Péninsule Gaspésienne inc. for violating the Act by:

  • proceeding with the distribution of a form of investment governed by the Act without a prospectus approved by the AMF in accordance with section 11 of the Act.

The AMF has filed 26 charges against Bernard Gagnon for violating the Act by:

  • assisting, through an act or omission, Société de Prospection de la Péninsule Gaspésienne inc. and Prospection 2000 inc. with the distribution of a form of investment governed by the Act without a prospectus approved by the AMF.

Should a guilty verdict be handed down by the Court of Québec, Bernard Gagnon and these companies will be liable to fines totalling:

  • $40,000 against Prospection 2000 inc.;
  • $90,000 against Société de Prospection de la Péninsule Gaspésienne inc.;
  • $130,000 against Bernard Gagnon.

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

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Information:

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Frédéric Alberro (514) 940-2176
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