Decisions and Freeze and cease trade orders Securities

Montréal – In a decision handed down on May 31, 2006, Judge Raymonde Verreault of the Court of Québec (Criminal and Penal Division) in the district of Montréal found Jean-Pierre Nadeau guilty on three counts brought against him by the Autorité des marchés financiers (AMF).

Mr. Nadeau faced three (3) charges as follows:

Assisting, through an act or omission, Club d’investissement HT 103 and Club d’investissement HT 105 with the distribution of a form of investment governed by the Securities Act, without having a prospectus approved by the Commission des valeurs mobilières du Québec (2 counts).

Carrying on activities as a securities dealer within the meaning of section 5 of the Securities Act, without being registered as such with the Commission des valeurs mobilières du Québec, by distributing a form of investment governed by the Securities Act (1 count).

Mr. Nadeau was ordered to pay a fine of $11,000, plus costs.

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

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