August 18, 2004 Securities

Montréal – The Agence nationale d’encadrement du secteur financier (also known as the “Autorité des marchés financiers” or “AMF”) is launching penal proceedings against Michel Ducharme, Éric Pesenti and Paul Billette before the Court of Québec (Criminal and Penal Division) in the district of Drummond, under sections 11, 148, 202, 204 and 208 of the Québec Securities Act.

Michel Ducharme is accused of acting as a securities dealer without being duly registered as such. With respect to Paul Billette and Éric Pesenti, they are accused of assisting Club de placement Gestimum inc. in the distribution of its shares without a duly approved prospectus. Mr. Ducharme is facing 25 counts that each carry a minimum fine of $1,000. Messrs. Billette and Pesenti face 4 and 15 counts respectively, each carrying a minimum fine of $5,000.

Established on February 1, 2004, the Autorité des marchés financiers is the regulatory and oversight body for Québec’s financial sector. The AMF consists of the Commission des valeurs mobilières du Québec, the Bureau des services financiers, the Régie de l’assurance-dépôts du Québec, the Fonds d’indemnisation des services financiers and the Inspector General of Financial Institutions.

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Information:

Journalists only:
Philippe Roy (514) 940-2176
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