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 freeze order on August 26, 2005 on 10 million shares held by Vincent Lacroix in Dianor Resources Inc. As well, Mr. Lacroix and MCA Valeurs mobilières inc. were ordered to refrain from withdrawing or disposing of any funds, securities or other assets belonging to Mr. Lacroix, in particular shares in Dianor Resources Inc. Finally, BDRVM ordered Dianor to cease any activity in respect of a transaction in the securities registered in the name of Vincent Lacroix.
The value of the transaction by which Mr. Lacroix purchased the 10 million shares in Dianor is estimated to total $5 million. The provisional administrator and the AMF will investigate this transaction and determine whether investors’ funds in the Norbourg and Evolution families of funds were used for the purchase of the shares.
At the request of the AMF, the BDRVM ordered Norbourg Asset Management to cease all activities on August 24, 2005. With its decision, BDRVM also issued a freeze order on the bank accounts of Norbourg and of the companies related to Mr. Lacroix. Moreover, it ordered the Evolution and Norbourg families of funds not to dispose of their assets and ordered the suspension of the rights granted by registration to Norbourg and Mr. Lacroix as an adviser. Finally, at the request of the AMF and further to BDRVM’s recommendation, the Minister of Finance appointed a provisional administrator to administer the property of Norbourg and of certain companies related to Mr. Lacroix.
The Autorité des marchés financiers (AMF) is the regulatory and oversight body for Québec's financial sector.
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Philippe Roy (514) 940-2176
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