VANCOUVER, Aug. 24, 2015 /CNW/ - The Executive Director of the British Columbia Securities Commission (BCSC) has issued a notice of hearing alleging that three individuals issued false or misleading news releases, made illegal distributions, and participated in a market manipulation.
The notice alleges that Christine Maria Cerisse, Laurence Frederick Austin (a.k.a. Lawrence Frederick Austin), and Thomas John Sadler made misrepresentations by causing Solanex Management Inc. to issue false or misleading new releases, and made illegal distributions without issuing a prospectus. The notice also alleges they participated in an orchestrated campaign to manipulate the share price of Solanex. The notice alleges that one of them also made false or misleading statements to BCSC investigators.
Solanex, now known as Solanbridge Group, Inc., is a Nevada company. During the relevant period, its shares were quoted on the Over the Counter Bulletin Board (OTCBB) in the United States. Cerisse, Austin, and Sadler are B.C. residents.
These allegations have not been proven. Counsel for the Executive Director will apply to set dates for a hearing into the allegations before a panel of commissioners on September 22, 2015 at 9:00 a.m.
You may view the notice of hearing on our website, www.bcsc.bc.ca, by typing Christine Maria Cerisse, Laurence Frederick Austin (or Lawrence Frederick Austin), Thomas John Sadler, or 2015 BCSECCOM 327 in the search box. Information about disciplinary proceedings can be found in the Enforcement section of the BCSC website.
Please visit the Canadian Securities Administrators' Disciplined Persons List for information relating to persons disciplined by provincial securities regulators, the Investment Industry Regulatory Organization of Canada (IIROC) and the Mutual Fund Dealers Association of Canada (MFDA).
About the British Columbia Securities Commission (www.bcsc.bc.ca)
The British Columbia Securities Commission is the independent provincial government agency responsible for regulating capital markets in British Columbia through the administration of the Securities Act. Our mission is to protect and promote the public interest by fostering:
- A securities market that is fair and warrants public confidence
- A dynamic and competitive securities industry that provides investment opportunities and access to capital
Learn how to protect yourself and become a more informed investor at www.investright.org
SOURCE British Columbia Securities Commission
For further information: Media Contact: Richard Gilhooley, Media Relations, 604-899-6713; Public inquiries: 604-899-6854 or 1-800-373-6393 (toll free)