Securities

Montréal - On July 8, 2015, Yvan Leclair pleaded guilty to 24 charges brought against him by the Autorité des marchés financiers ("AMF"), namely, for pursuing illegal activities as a securities dealer and conducting distributions without a prospectus receipt from the AMF. Judge Paul Dunnigan of the Court of Québec, district of Drummond, ordered him to pay fines totalling $130,500, thereby approving the joint recommendation of the parties.

The evidence filed during the trial revealed that, between May 10, 2006 and September 6, 2007, Yvan Leclair solicited investors for the purpose of helping him finance various investment projects in a number of areas: oil, copper mining and computers in Ghana or Nigeria. Some of the funds were also intended to pay costs related to transportation, permits and customs in connection with the upcoming arrival of large sums of cash at the airport. The amounts paid were then sent to Ghana or Nigeria through funds transfer businesses.

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

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Information:

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Cathy Beauséjour: 514-395-0337

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