Montréal, July 28, 2011 - The Autorité des marchés financiers (the "AMF") has launched penal proceedings in the judicial district of Québec City against Laurent Beaudoin (not to be confused with the chairman of Bombardier), Réjeanne Pelletier, Marcel Roy, Ghyslaine Pigeon and Sylvie Samson in connection with illegal distributions. The AMF is seeking fines totalling $573,000.

More specifically, the AMF has filed 33 charges against Laurent Beaudoin, president of Groupe Placirent inc., a mining exploration company that merged with Conway Resources Inc. in August 2006. The AMF accuses Laurent Beaudoin of aiding Groupe Placirent inc. and Gestion L. Beaudoin inc. with illegal distributions (13 counts), acting illegally as a securities dealer (11 counts), aiding Groupe Beaudoin Fournier et Roy inc. and Gestion L. Beaudoin inc. with acting illegally as securities advisers (five counts) and declaring that the securities of Groupe Placirent inc. would be listed on a stock exchange (four counts). The AMF is seeking fines totalling $450,000 against Laurent Beaudoin.

The AMF also filed four charges against Réjeanne Pelletier for acting illegally as a securities dealer (two counts) and for aiding Groupe Placirent inc. with illegal distributions (two counts). The AMF is seeking fines totalling $60,000 against her.

Five charges were filed against Marcel Roy for acting illegally as a securities dealer (one count), for aiding Groupe Beaudoin Fournier et Roy inc. with acting illegally as a securities adviser (three counts) and with making an illegal distribution (one count). The AMF is seeking fines totalling $48,000 against him.

The AMF is also seeking a fine of $10,000 against Ghyslaine Pigeon, who is accused of aiding Groupe Beaudoin Fournier et Roy inc. with acting illegally as a securities adviser (one count).

Finally, the AMF filed a charge for illegally pursuing activities as a securities dealer against Sylvie Samson and is seeking a fine of $5,000.

The AMF's investigation established that Laurent Beaudoin proposed various investment vehicles to potential investors. These ranged from loans for corporate research and development to the purchase of exchange-listed securities through investors' on-line brokerage accounts. To do this, he formed companies and worked with referral agents who recruited investors.

It should be noted that three of the individuals charged under these proceedings have been the subject of penal proceedings for similar infractions. Laurent Beaudoin and Réjeanne Pelletier are the subject of a penal proceeding launched in July 2009 in connection with illegal distributions related to Gestion Nali inc. and Gestion Lactée inc. The trial will be conducted in October 2011. As for Ghyslaine Pigeon, who had pleaded guilty to 37 charges of illegally pursuing activities as a securities dealer, she was fined a total of $55,000 in April 2010. She is also involved in another proceeding launched by the AMF in March 2009 in connection with illegal distributions related to N.S.I. Solutions Naturelles Internationales inc. The date for this trial has not yet been determined.

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

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