August 6, 2014

Montréal - Roxanne Cléroux, Martin C. Normand and Daniel Bélanger The respondent Daniel Bélanger should not be confused with Daniel Joseph Bélanger, who holds certificate No. 102 030 in insurance of persons, group insurance of persons and financial planning with André Proulx Services financiers Inc. and registration as a dealing representative (mutual fund dealer) with Investissements Excel Inc., and who is not involved in this decision.  were recently ordered to pay fines totalling $91,000 at the Montréal courthouse after pleading guilty to the charges brought against them by the Autorité des marchés financiers ("AMF") related to the illegal distribution of shares in Biotonix inc.

On January 15, 2014, Martin C. Normand pleaded guilty, before Judge Nathalie Fafard, to seven of the eight charges filed against him, namely, four charges of aiding with a distribution without a prospectus and three charges of illegal practice. Further to the joint recommendation of the parties, Martin C. Normand was ordered to pay the minimum fine for each of the charges for a total of $23,000.

On February 20, 2014, Roxanne Cléroux pleaded guilty, before Judge Denis Lavergne, to the eight charges filed against her, namely, three charges of aiding with a distribution without a prospectus, three charges of illegal practice, and two charges of stating that shares would be listed. Further to the joint recommendation of the parties, Roxanne Cléroux was ordered to pay twice the minimum fine for each of the charges for a total of $40,000. The two charges filed against Roxanne Cléroux's company, 9033-2743 Québec inc., were withdrawn.

As for Daniel Bélanger, he pleaded guilty before Judge Claude Leblond to six of the nine charges filed against him on March 24, 2014. He pleaded guilty to two charges of aiding with a distribution without a prospectus, two charges of illegal practice, and two charges of stating that shares would be listed. Further to the joint recommendation of the parties, Daniel Bélanger was ordered to pay twice the minimum fine for each of the charges for a total of $28,000.

Further proceedings will take place with respect to the two other accused in this matter, namely, Albert Barbusci and his company Cadence Holdings inc.

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

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