Montréal - The Autorité des marchés financiers (the AMF) has launched penal proceedings against Roger Bureau and Ressources Pershimco inc. consisting of 41 charges and a total of $410,000 in fines. The AMF is accusing them of making illegal distributions.

The alleged facts took place between December 2006 and February 2010. Roger Bureau, chairman of the board of directors of Ressources Pershimco inc., principal shareholder (through his company, 143454 Canada inc.) and former president and chief executive officer of the company, apparently aided Ressources Pershimco inc., a mining exploration company listed on the Toronto Stock Exchange, with making illegal distributions without a prospectus.

This investigation follows audits conducted by AMF Corporate Finance on statements regarding exempt private investments filed by Pershimco. The AMF's investigation shows that 15 investors who do not meet the criteria for being considered relatives, friends or partners of directors or officers of Pershimco or qualified investors, as the case may be, invested $262,575 in the venture. Roger Bureau therefore faces 20 counts for aiding with an illegal distribution and fines totalling $200,000. Pershimco faces 21 counts and the AMF is seeking fines totalling $210,000.

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

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