Montréal - On December 19, 2012, at the request of the Autorité des marchés financiers (the AMF), the Bureau de décision et de révision (the "Bureau") prohibited David Kam, E=MC2 Company Inc. and Pôle Nord de l'Amérique inc. from acting as a securities adviser and ordered them to cease any activity in respect of a transaction in securities.
The publication of this press release is the means of service authorized by the Bureau in Decision 2011-019-004 (pdf - 5 MB)This link will open in a new window with respect to David Kam, E=MC2 Company Inc. and Pôle Nord de l'Amérique inc.
David Kam, E=MC2 Company Inc. and Pôle Nord de l'Amérique inc. were illegally soliciting investors through several websites in order to distribute securities of E=MC2 Company Inc. and Pôle Nord de l'Amérique inc. The two corporations, for which David Kam acted as the officer, also purported to be a "green stock exchange" without being recognized as such by the AMF.
To ensure compliance with the law and protect the public, the Bureau also ordered David Kam, E=MC2 Company Inc. and Pôle Nord de l'Amérique inc. to cease using websites to conduct illegal distribution activities. It also ordered the closing of the www.greensx.com website and the removal of any content promoting illegal distributions without a prospectus on four other websites.
The Bureau also authorized the filing of this decision with the Superior Court. The AMF is concerned that Mr. Kam will not acknowledge Quebec's jurisdiction over his activities and those of the corporations he controls since he recently attempted to sidestep Québec law.
Reminder to investors
In its most recent awareness campaign, 5bonnesquestions.ca This link will open in a new window (in French only), the AMF reminds consumers that it is important to check whether the person offering an investment product is authorized to do so, by consulting the Register of firms and individuals authorized to practise that is available on the AMF's website.
The Autorité des marchés financiers (the AMF) is the regulatory and oversight body for Québec's financial sector.
- 30 -
Sylvain Théberge: 514-940-2176
Québec City: 418-525-0337
Twitter : @lautorite This link will open in a new window