Montréal - On November 19, 2015, Judge Marc Bisson of the Court of Québec, district of Longueuil, fined Helga Leuthe a total of $40,000. Ms. Leuthe pleaded guilty to eight charges of making illegal distributions following an agreement to settle the case.
While Helga Leuthe was an officer or director of Archer Gold Inc., she aided the company in making distributions without having a prospectus as required by law. She was ordered to pay the minimum fine for each charge to which she pleaded guilty.
Helga Leuthe and Archer Gold Inc. have been the subject of cease trade and freeze orders since December 2011.
The Autorité des marchés financiers (the "AMF") is the regulatory and oversight body for Québec's financial sector.
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