Illegal Practice and Distributions in the Québec City Area - Charles Rancourt ordered to pay $118,500 in fines

Securities Decisions and Freeze and cease trade orders

Montréal - On July 31, 2012, Justice Michel L. Auger of the Court of Québec for the district of Québec City ordered Charles Rancourt, who had pleaded guilty to 55 charges for illegal practice as a securities dealer or adviser, to pay $118,500 in fines.

The Autorité des marchés financiers (the AMF) maintained that Mr. Rancourt illegally acted as a securities dealer or adviser 55 times between July 2004 and July 2008 with respect to the purchase or sale of shares of Exploration Tom inc., Exploration Lounor inc., Corporation Minière Rocmec inc. and Mines d'Or Excel inc.

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

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