Decisions and Freeze and cease trade orders Securities

Montréal – On August 8, 2006, Judge Micheline Paradis of the Court of Québec (Criminal and Penal Division), district of Chicoutimi, found Sylvain Tessier guilty on ten counts, the Société 9009-0002 Québec inc. guilty on two counts and Millenium Concepts Export Inc. guilty on three counts.

Sylvain Tessier faced ten counts brought against him by the Autorité des marchés financiers (AMF) for violating the Québec Securities Act (the “Act”):

  • by making a distribution of securities without being registered with the AMF as a securities dealer or adviser, thereby violating section 148 of the Act (5 counts);
  • making a misrepresentation to investors, thereby violating section 197 of the Act (5 counts).

Mr. Tessier was ordered to pay a fine of $33,000, which is above the minimum $30,000.

The Société 9009-0002 Québec inc. faced two counts brought against it by the AMF for violating the Act by making a distribution without preparing a prospectus and obtaining a receipt from the AMF in accordance with section 11 of the Act. It was ordered to pay a fine of $10,000.

As for Millenium Concepts Export Inc., it faced three counts brought against it by the AMF for violating the Act by making a distribution without preparing a prospectus and obtaining a receipt from the AMF in accordance with section 11 of the Act. It was ordered to pay a fine of $15,000.

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

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Information:

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Frédéric Alberro (514) 940-2176
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