CALGARY, AB, Aug. 21, 2020 /CNW/ - The Alberta Securities Commission (ASC) has issued a Notice of Hearing alleging that Roadman Investments Corp. (Roadman) and its CEO, Luke Montaine (Montaine) made misleading statements that would reasonably be expected to have a significant effect on the market price or value of Roadman's securities. The alleged misleading statements were made in news releases issued by Roadman in February and March 2020, advising that Roadman and CLOV BioPharma Corp. (CBP) were involved in research and development in preventing the spread of coronaviruses, including COVID-19. CBP became a wholly owned subsidiary of Roadman within days of being incorporated in February 2020.
It is also alleged that Roadman and Montaine engaged in conduct contrary to the public interest by issuing the news releases in February and March 2020.
None of the allegations have been proven.
An appearance to set a date for a hearing will be held on Monday, September 28, 2020 at 9:00 a.m.
The ASC is the regulatory agency responsible for administering the province's securities laws. It is entrusted with fostering a fair and efficient capital market in Alberta and with protecting investors. As a member of the Canadian Securities Administrators, the ASC works to improve, coordinate and harmonize the regulation of Canada's capital markets.
SOURCE Alberta Securities Commission
For further information: For Media Inquiries: Theresa Schroder, Senior Advisor, Communications, 587.830.4286; For Investor Inquiries: ASC Public Inquiries, Toll Free 1.877.355.4488