May 13, 2014 Securities

Montréal - The Autorité des marchés financiers ("AMF") has launched a penal proceeding against Fernand Plante and Richard Rouillard and has filed a total of four charges for pursuing illegal activities as a dealer and aiding with an illegal distribution. The respondents face a total minimum fine of $12,000.

The AMF investigation revealed that, in September 2003, Fernand Plante solicited an investor for the purpose of purchasing 40,000 shares in Semopac Canada inc., in consideration of $40,000. The president of Semopac at the time was Richard Rouillard.

The investor lost his entire investment of $40,000.

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

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