Shopmedia regulates its situation with the AMF


Montréal – The Autorité des marchés financiers (AMF) announced that Shopmedia Inc. has agreed to comply with regulatory requirements and regularize its situation as a reporting issuer pursuant to the Securities Act.

Recently, Shopmedia Inc. regularized its situation by exchanging all the securities of 6727948 Canada Inc., 6681018 Canada Inc., 6671055 Canada Inc. and 6670032 Canada Inc. As a result, the shareholders of all these companies will become direct shareholders of Shopmedia Inc.

This agreement is further to the payment of an administrative penalty of $172,285 imposed on the directors and/or officers of the companies forming the body of direct and indirect shareholders of Shopmedia Inc., namely, Jean Dobey Ourega, Jamal Chaouki, André Pépin, David Pépin, Pierre Huard, Alain Gouin, Mario Gouin, Nathalie Ellyson, Ian Brissette and Rhéaume Coalier.

In determining the conditions of the agreement and the sanction to be imposed, the AMF primarily considered the public interest, Shopmedia's acknowledgement of its responsibility and fault, as well as the company's co-operation during the regularization process.

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

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