December 2, 2009 Decisions and Freeze and cease trade orders Securities

Montréal – At the request of the Autorité des marchés financiers (AMF), the Bureau de décision et de révision en valeurs mobilières (BDRVM) issued an order on November 27, 2009 prohibiting Pierre-Philippe Frenette from pursuing activities as a securities adviser and from carrying on any activity, directly or indirectly, in respect of transactions in securities, in his own name or under the name of Geniforce.

The BDRVM also ordered Pierre-Philippe Frenette to cease using Internet sites to carry on any activity in respect of transactions in securities, including pursuing activities as a securities dealer, in his own name or under the name of Geniforce. The BDRVM further ordered that any written document or content referring to an "Investors' meeting" be removed from Geniforce's website.

In its decision, the BDRVM stated that it was particularly concerned about the following allegations and facts presented by the AMF:

• Pierre-Philippe Frenette pursued activities as a securities dealer or adviser and solicited investors without having obtained the necessary authorizations from the AMF;
• Given the lack of an approved prospectus, investors who decided to subscribe to the shares to be issued by Geniforce would not obtain all the information necessary to make an informed decision;
• Investor meetings were held in Québec City in order to raise $300,000; investors who attended were asked to sign a letter of interest with respect to the investment;
• Pierre-Philippe Frenette used Geniforce's website to solicit investors by promoting the company's activities and inviting investors to meetings intended to raise $300,000. He published newspaper ads inviting investors to these meetings.

The AMF reminds investors that they should always check with the AMF Information Centre to determine whether the firms and individuals offering to act as intermediaries or proposing financial products have the necessary approvals from the AMF. Various AMF leaflets and brochures are also available to help consumers make better investment choices. Contact the AMF Information Centre or consult the AMF website under Publications/Brochures and leaflets for consumers.

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

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