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 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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Frédéric Alberro (514) 940-2176
Information Centre: (877) 525-0337
- Cease trade order against Millenia Hope Inc. and Millenia Hope BioPharma lifted
- MD Multimédia inc. - Pierre Couture and Claude-Yvon Provost prohibited from trading securities and pursuing activities as advisers
- MD Multimédia inc. - AMF files 4 charges and seeks $24,000 in fines
- MD Multimédia - Pierre Couture fined $6,000