March 16, 2011 Securities

Montréal - The Autorité des marchés financiers (the "AMF") has launched penal proceedings against Véronique Jallabert, a former insider at Pebercan Inc.

The AMF has launched penal proceedings involving 10 charges against Véronique Jallabert, former chief financial officer of Pebercan Inc., a reporting issuer. Véronique Jallabert is accused of trading in the securities of Pebercan Inc. on 10 occasions in January 2009 while in possession of privileged information on the company.

The AMF is seeking fines totalling $50,000 against Véronique Jallabert, which represents the minimum fine set out in the Securities Act. The respondent is said to have earned a profit of just under $7,000.

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

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