Montréal - The Autorité des marchés financiers ("AMF") has launched penal proceedings against Éric Weynant for illegal brokerage activities, misrepresentations and aiding with an illegal distribution, and is seeking $327,000 in fines.

The AMF alleges that Éric Weynant, president and founder of Phasoptx inc., aided the company with distributions without a prospectus (21 charges), illegally acting as a securities dealer by making a distribution (9 charges) or seeking securities subscribers or purchasers (5 charges). As well, the AMF alleges that he made misrepresentations to investors with respect to a transaction in securities, namely, in connection with the actual ownership of patents and the number of Phasoptx shareholders (5 charges). Moreover, he is charged with making misrepresentations in a document or information sent to the AMF (one charge).

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

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