Securities Decisions and Freeze and cease trade orders

Montréal – In a decision issued on February 16, 2006, Judge Claude Leblond of the Court of Québec, Criminal and Penal Division (district of Montréal), found Claude Valade guilty on ten counts brought against him by the Autorité des marchés financiers (AMF).

Specifically, Mr. Valade was found guilty of acting as a securities dealer on five different occasions, without being registered as such with the AMF, by distributing to investors a form of investment governed by the Securities Act, namely, units in the Club d’investissement HT, Club d’investissement H 103 and Club d’investissement HT 105.

As well, Mr. Valade was found guilty of assisting, on five occasions, the abovementioned organizations with the distribution of a form of investment governed by the Securities Act without the receipt of a prospectus approved by the AMF.

Mr. Valade was ordered to pay a fine in the amount of $30,000, plus costs totalling $7,510.

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

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Information:

Media only:
Philippe Roy (514) 940-2176
Issuers, dealers, advisers and representatives: (877) 525-0337, choose option 9 for English, then 1 for industry
Consumers and investors: (877) 525-0337, choose option 9 for English, then 8 for consumers

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