Securities Decisions and Freeze and cease trade orders

Montréal – On November 11, 2016, the Tribunal administratif des marchés financiers (the “Tribunal”) issued ex parte freeze and prohibition orders against Sidis Capital & Associés s.e.n.c. (“Sidis Capital”) and Louis-Philippe Gagné in connection with activities covered under the Securities Act (the “Act”).

In its decision, the Tribunal ordered Sidis Capital not to dispose of the funds, securities or other assets in its possession and to refrain from withdrawing funds, securities or other assets from any other person having them on deposit, under control or in safekeeping for Sidis Capital. The Tribunal also ordered Questrade Inc. not to dispose of the funds, securities or other assets that it has on deposit, under control or in safekeeping for Sidis Capital.

Furthermore, the Tribunal prohibited Louis-Philippe Gagné and Sidis Capital from carrying on any activity, directly or indirectly, in respect of transactions in any form of investment covered by the Act. However, Louis-Philippe Gagné may, through a dealer duly registered with the Autorité des marchés financiers (the “AMF”), trade securities that he holds in a personal account, using funds obtained in a manner that does not contravene the Act.

The Tribunal ordered Louis-Philippe Gagné and Sidis Capital to cease carrying on business as securities advisers and acting as investment fund managers, as defined in the Act.

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

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