Warning - Regarding Global 8 Environmental Technologies Inc.
Investor warnings - News
Montréal – The Autorité des marchés financiers (AMF) is urging Québec investors to be cautious about Global 8 Environmental Technologies Inc. The warning is further to the interim cease trade order issued by the Alberta Securities Commission (ASC) and by the British Columbia Securities Commission (BCSC) against Global 8 Environmental Technologies Inc.
According to the ASC, Global 8 Environmental Technologies Inc. is a corporation based in the State of Nevada, U.S.A. that works with partners and consultants to provide solutions for the health and recovery of the environment through the development and operation of world class Environmental Technology Centers. From May 2003 to June 2009, Global is alleged to have raised some $19.5 million through the illegal trading and distribution of securities to more than 950 Alberta investors and have done so without being registered with the ASC and without filing a prospectus. According to information from the BCSC, Global 8 Environmental Technologies Inc. is also alleged to have conducted illegal distributions to some 120 B.C. investors in the amount of $12.5 million.
At this point, it is not known whether Québec investors were contacted by Global. However, investors should be cautious and note that Global has not filed a prospectus with the AMF.
"Investors should always check with the AMF Information Centre to determine whether firms and individuals offering investments or brokerage services have the necessary approvals from the AMF," said Anne-Marie Poitras, Superintendent, AMF Client Services and Compensation. "Investors who hand over their investments to firms that do not hold the required permits often lose their money, and the recourses available to them are usually limited," she added.
For further information, read Red-Flagging Financial Fraud. You can download this brochure from the AMF website or order it through the AMF Information Centre. It will help you recognize several types of illegal tactics, and provides tips to keep you on guard against fraud artists.
If you believe you have been approached by Global, contact the AMF Information Centre.
The Autorité des marchés financiers (AMF) is the regulatory and oversight body for Québec's financial sector.
— 30 —
Sylvain Théberge: (514) 940-2176
Québec City: 418-525-0337