Decisions and Freeze and cease trade orders Securities

Montréal – The Court of Québec (Criminal and Penal Division), districts of Matane and Laval, has ordered Bernard Gagnon, Société de Prospection de la Péninsule Gaspésienne inc. and Prospection 2000 inc. to pay fines totalling $205,000. This conviction is further to the proceedings launched by the Autorité des marchés financiers (AMF) in January 2007.

On May 26, 2008, Bernard Gagnon pleaded guilty in Matane to 20 counts and was ordered to pay fines totalling $100,000 plus costs for violating the Securities Act (R.S.Q. c. V-1.1) (the "Act"):

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

As well, Société de Prospection de la Péninsule Gaspésienne inc. pleaded guilty to 17 counts and was ordered to pay fines totalling $85,000 plus costs for violating the Act:

  • by distributing a form of investment governed by the Act without a prospectus approved by the AMF.

On  22, 2008, Prospection 2000 inc. pleaded guilty in Laval to 4 counts and was ordered to pay fines totalling $20,000 plus costs for violating the Act:

  • by distributing a form of investment governed by the Act without a prospectus approved by the AMF.

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

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