January 12, 2024 Decisions and Freeze and cease trade orders Securities

Montréal – On December 21, 2023, following an ex parte hearing, the Tribunal administratif des marchés financiers (the “Tribunal”) issued orders against Élan Future inc., Elan Future LTD, Éternelle Global inc., 9456-4416 Québec inc. and 9400-5493 Québec inc. and against Jérôme-Olivier Malo, Martin Isabelle, Nicolas MaltaisNicolas Maltais should not be confused with Nicolas Maltais who holds certificate No. 233318 in claims adjustment and carries on activities with Sécurité nationale compagnie d’assurance., Dominik Bilodeau, Alexandre Cossette and Marie-Soleil Baril (the “Respondents”).

The AMF’s investigation, which is still ongoing, has determined that the respondents Élan Future inc., Elan Future LTD, Jérôme-Olivier Malo, Martin Isabelle, Nicolas Maltais, Dominik Bilodeau and Alexandre Cossette are involved in a project to develop and market products in the energy sector. The issuance of ELAN cryptoassets is associated with this project.

The Tribunal prohibited Élan Future inc., Elan Future LTD, Éternelle Global inc., Jérôme-Olivier Malo, Martin Isabelle, Nicolas Maltais, Dominik Bilodeau and Alexandre Cossette from engaging in any transaction in securities or derivatives. The Tribunal also prohibited the individuals involved from acting as advisers or as investment fund managers within the meaning of the Securities Act and the Derivatives Act.

The Tribunal issued various freeze orders on, in particular, the funds, securities, cryptoassets or other assets in the Respondents’ possession, under their control or in their safekeeping.

The Tribunal ordered Élan Future inc., Elan Future LTD, Éternelle Global inc., Jérôme-Olivier Malo, Martin Isabelle, Nicolas Maltais, Dominik Bilodeau and Alexandre Cossette to remove, within five days of the notification of its decision, any announcement, advertisement or other publication of the same nature relating to Simple Agreements for Future Tokens (SAFTs), Simple Agreements for Future Equity (SAFEs), loan agreements, ELAN cryptoassets or any other security.

The respondents Élan Future inc., Éternelle Global inc., Jérôme-Olivier Malo, Nicolas Maltais, Dominik Bilodeau, Alexandre Cossette and Marie-Soleil Baril have filed notices of contestation.

Call to consumers

If you have information that may help the AMF in its ongoing investigation into this matter, please contact the AMF at [email protected].

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

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