Triglobal - AMF successful in opposing motions filed by Franco Mignacca and Joseph Jekkel

Decisions and Freeze and cease trade orders Securities

Montréal – The Bureau de décision et de révision en valeurs mobilières (BDRVM) rendered a decision on May 30, 2008 regarding the arguments put forward by the Autorité des marchés financiers (AMF) opposing the preliminary motions filed by Franco Mignacca and Joseph Jekkel in January. The motions primarily concerned the lifting of the freeze and cease trade orders against these two individuals in the matter of Triglobal.

Contestations regarding the respondents' preliminary motions have been presented. A new hearing before the BDRVM will take place soon, during which all parties involved in the Triglobal matter will be summoned and called upon to submit their principal arguments.

On December 21, 2007, the BDRVM ratified the AMF's recommendations and ordered Triglobal to cease all activity in respect of transactions in securities governed by the Securities Act and activities as a securities adviser. Several freeze trade and other orders were issued against Triglobal as well as related companies and individuals, in particular, Franco Mignacca and Joseph Jekkel. The AMF investigation revealed that between 1997 and 2007, a number of Quebeckers had invested millions of dollars in Focus Management Inc. or Ivest Fund Ltd. through representatives, related persons and/or officers of Triglobal.

Since December 24, 2007, Jean Robillard of the firm Raymond Chabot Grant Thornton has acted as provisional administrator of Triglobal, in accordance with the recommendation of the AMF and the BDRVM and further to his appointment by the Minister of Finance.

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

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