VANCOUVER, Jan. 23, 2013 /CNW/ - A British Columbia Securities
Commission panel has dismissed allegations that the former President
and Chief Executive Officer of a B.C. corporation listed on the
TSX-Venture Exchange engaged in market manipulation.
In a notice of hearing issued on February 28, 2012, BCSC staff alleged
that Damien Edward Reynolds entered two orders in March 2010 to sell
shares in Coltstar Ventures Inc, and in doing so created an
artificially low price in Coltstar's shares. Reynolds was President and
CEO of Coltstar from March 2010 to January 2012, prior to which time he
served on the board of directors.
In its decision, the panel dismissed the allegations, stating that "the
evidence did not establish that either of Reynold's… trades resulted
in, or contributed to, an artificial price for Coltstar shares."
The B.C. Securities Commission is the independent provincial government
agency responsible for regulating trading in securities within the
province. You may view the decision on our website, www.bcsc.bc.ca, by typing Damien Edward Reynolds or 2013 BCSECCOM 15 in the search
box. Information regarding disciplinary proceedings can be found in
the Enforcement section of the BCSC website.
For media inquiries, contact Richard Gilhooley, media relations,
604-899-6713. For public inquiries, call 604 899 6854 or 1 800 373 6393 (toll free).
Learn how to protect yourself and become a more informed investor at www.investright.org
SOURCE: British Columbia Securities Commission
For further information:
Contact: Richard Gilhooley