Published: November 6, 2007
Decisions and Freeze and cease trade ordersSecurities

Montréal – At the request of the Autorité des marchés financiers (AMF), the Bureau de décision et de révision en valeurs mobilières (BDRVM) issued a cease trade order on November 1, 2007 in respect of any form of investment against Millenia Hope inc., Millenia Hope BioPharma and MD Multimédia inc. The BDRVM has also prohibited Pierre Couture and Claude Yvon Provost from trading in securities on behalf and in the name of the above-mentioned companies and pursuing activities as a securities adviser.

In its decision, the BDRVM stated it was particularly concerned about the following facts raised by the AMF and an analysis of the request:

  • alleged illegal distribution;
  • failure by Pierre Couture and Claude Yvon Provost to register as securities dealers and advisers;
  • lack of a prospectus that would have revealed any material fact related to the securities for distribution;
  • allegation that the patent could be sold to multinationals for an amount varying from $100 to $150 million;
  • the meeting scheduled on the very day of the hearing and related in particular to the opening of accounts; and
  • the investors being solicited already incurred losses with respect to previous investments.

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

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