Montréal – The Autorité des marchés financiers (the “AMF”) has launched penal proceedings in the judicial district of Montréal against Pierre Morency1 and 4241894 Canada Inc. (also known as Entertraining Productions and Success League) in relation to illegal distributions.
More specifically, Pierre Morency is charged with 35 counts: 11 counts for illegal practice as a securities dealer, 11 counts for aiding in a distribution without a prospectus, 10 counts for representing that, in connection with transactions relating to the securities of 4241894 Canada Inc., their price would be refunded, whereas holders of these securities did not have this right, and three counts for making misrepresentations in respect of a securities transaction. Pierre Morency has never been registered with the AMF in any capacity whatsoever.
4241894 Canada Inc., of which Pierre Morency is the sole director and for which he acts as president, secretary and treasurer, faces 11 charges for making distributions without a prospectus. This corporation has never prepared a prospectus for approval by the AMF or been granted an exemption.
The Autorité des marchés financiers (the “AMF”) is the regulatory and oversight body for Québec’s financial sector.
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Sylvain Théberge: 514-940-2176
Québec City: 418-525-0337
1 The respondent Pierre Morency should not be confused with Pierre Morency who holds certificate 124348 in insurance of persons and pursues activities as an independent representative.