Jacques Gagné - Freeze order extended

Decisions and Freeze and cease trade orders Securities

Montréal – At the request of the Autorité des marchés financiers (AMF), the Bureau de décision et de révision en valeurs mobilières (BDRVM) issued a decision on August 21, 2008 extending, until November 18, 2008, the freeze order initially made on October 19, 2006 in respect of the assets of 9151-2632 Québec inc., of which the sole shareholder and director is Martine Gravel, and 9112-2192 Québec inc., of which the president is Jacques Gagné.

The initial freeze order was renewed seven times in 2007 and 2008. The BDRVM has renewed this order an eighth time. In March 2005, an order was made against Jacques Gagné to cease trading and pursuing activities as a securities adviser. In June 2006, Jacques Gagné filed a motion to appeal the decision in the Court of Québec, which determined on February 16, 2007 that the motion was without grounds.

In March 2006, Jacques Gagné was fined $3,260 for failing to appear after two summonses to testify at AMF headquarters and refusing to furnish the items requested during the investigation.

Further to ads published in a daily newspaper in 2003, Jacques Gagné apparently contacted interested parties and, in at least once case, invested an individual's funds without being registered as a securities adviser with the AMF.

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

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