June 18, 2015 Securities

Montréal - The Autorité des marchés financiers (the "AMF") has launched penal proceedings in the judicial district of Beauharnois against Roger Biduk, who it claims carried on an illegal practice as a dealer, made distributions without a prospectus and made misrepresentations.

The AMF intends to show that Roger Biduk solicited two Quebeckers to invest in 6329772 Canada Inc., a company set up by Mr. Biduk which was wound up in 2012, promising them 7% or 8% interest. Mr. Biduk purportedly also issued false account statements to one of the investors and misappropriated funds from the bank account of 6329772 Canada Inc.

Roger Biduk is facing a total of 12 charges, including 5 counts for illegal practice as a dealer, 5 counts for distributions without a prospectus and 2 counts for making misrepresentations. If found guilty, Mr. Biduk could face a minimum fine of $107,000.

At the time of the alleged facts, Roger Biduk was registered as a dealing representative. His registration was later suspended for inappropriate conduct.

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

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