Bitcoins transferred at request of AMF

Decisions and Freeze and cease trade orders

Québec – On July 5, 2018, at the request of the Autorité des marchés financiers (the “AMF”), Judge Raymond W. Pronovost of the Superior Court of Québec appointed a receiver over certain property belonging to Dominic Lacroix. The judge granted the receiver the powers necessary to take possession of the bitcoins held by Dominic Lacroix.

The judge ordered Dominic Lacroix, upon service of the order, to transfer the bitcoins in his possession and to appear before the Superior Court the following day to confirm that he had made the transfer.

On July 6, 2018, Dominic Lacroix appeared before the Superior Court and declared that he had not transferred the bitcoins. Later during the hearing, Dominic Lacroix agreed to turn over the bitcoins to the receiver. The transfer of some 420.6 bitcoins, valued at approximately $3,700,000, took place in the court room behind closed doors.

On July 5, 2018, the Financial Markets Administrative Tribunal (the “Tribunal”) lifted certain freeze orders to give full effect to the order of the Superior Court and thus allow the receiver to carry out its mandate without restrictions.

On July 12, 2018, the Tribunal also lifted the freeze order on Satoshi Portal inc.-Bylls to allow this company to transfer to the receiver the bitcoins it held on behalf of Dominic Lacroix. The receiver was thus able to recover an additional 4.3 bitcoins, with a value of approximately $42,000.

Dominic Lacroix and some of his related entities have been subject to freeze and cease trade orders since July 20, 2017 in connection with the creation and launch of “PlexCoin,” a cryptocurrency.

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

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