Montréal, March 28, 2017 – The Autorité des marchés financiers (the “AMF”) cautions Québec investors about solicitations relating to investments in the agri-food industry made by Agronomix France, Agronomix Canada Inc. and Ghislain Dja, as they are not registered with the AMF and are therefore not authorized to act as securities dealers or advisers in Québec.
On January 18, 2017, the Tribunal administratif des marchés financiers (the “Tribunal”) issued ex parte orders prohibiting the respondents from engaging in any activity, directly or indirectly, in respect of a transaction in securities.
The Tribunal also ordered Agronomix Canada Inc. to remove any document or content published or communicated for the purpose of acting as a dealer or making a distribution within the meaning of the Securities Act.
Moreover, the Tribunal ordered Agronomix Canada Inc. not to dispose, directly or indirectly, of funds, securities or other assets that are in their possession or custody, and not to withdraw or appropriate, directly or indirectly, funds, securities or other assets from any other person having them on deposit, under control or in safekeeping on their behalf.
“Turnkey plantations” and unrealistic promises
Based on the evidence presented by the AMF, the Tribunal noted that the respondents solicited investors by proposing that they acquire plantations in Ivory Coast and promised them a return on investment of up to 332% over a period of six months and two weeks.
Agronomix France and Agronomix Canada never filed a prospectus for approval by the AMF or obtained a prospectus exemption from the AMF. As for Ghislain Dja, he was not registered with the AMF during the period in which the events at issue took place.
Don’t become a victim of fraud
Whether on the Internet or in person, offering investments is a regulated activity.Any individual or firm promoting an investment product must be registered with the AMF or be exempt from the registration requirement. To make sure you don’t become a victim, check whether the individual or firm is on the Register of firms and individuals authorized to practise.
If you think you have detected or been the target of a scam, don’t hesitate to contact the AMF Information Centre. Your information could help the AMF better protect consumers.
Visit the AMF website to learn about other ways to prevent fraud .
The Autorité des marchés financiers (the “AMF”) is the regulatory and oversight body for Québec’s financial sector.
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