April 23, 2014 Securities

Montréal - The Autorité des marchés financiers ("AMF") has filed 24 charges against Yvan Leclair for illegal practice as a dealer and distribution without a prospectus. The respondent faces a minimum fine of $76,000.

The AMF investigation revealed that Yvan Leclair solicited investors in order to lend him money for the purpose of investing in Africa by financing projects in various economic sectors of activity. The funds were remitted in cash or by means of cheques or bank money orders made out to Mr. Leclair personally.

A total of 13 investors lost approximately $138,000.

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

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