VANCOUVER, Aug. 7 /CNW/ - The British Columbia Securities Commission has
fined a Coquitlam geologist and limited his abilities to issue scientific and
technical information after he admitted to signing off on a series of
misleading news releases.
In a settlement agreement with the BCSC, Robert Weicker, a former
director of Aberdene Mines Ltd. (now Canyon Copper Corporation), admitted he
signed three news releases that contained misleading information about the
company's property in Nevada.
From March 17, 2004 to May 31, 2006, Weicker was a director and officer
of Aberdene. At the time, the company traded on the U.S. over-the-counter
Even though Aberdene was not a reporting issuer under the B.C. Securities
Act, it had significant connections to the province. The company conducted
investor relations in Vancouver, made a number of private placements to B.C.
residents, and the majority of its directors and officers lived in the
province, including Weicker who resides in Coquitlam.
As Aberdene's senior geologist and director, Weicker signed off on three
news releases in June and July 2004 that contained misleading scientific and
technical information about the company's New York Canyon property. The news
releases made incorrect statements related to the economic viability of the
property and failed to disclose that Weicker had an interest in the property.
The releases also relied on historical mineral resource estimates that failed
to meet the requirements set out in NI 43-101 Standards of Disclosure for
Under the settlement agreement, Weicker agreed to pay the BCSC $30,000
and he cannot prepare or disseminate news releases containing scientific or
technical information for any issuer for 12 months without supervision by a
director or officer of the issuer.
The B.C. Securities Commission is the independent provincial government
agency responsible for regulating trading in securities within the province.
You may view the settlement on our website www.bcsc.bc.ca by typing in the
search box, Robert Weicker or 2007 BCSECCOM 465. If you have questions,
contact Ken Gracey, Media Relations, 604-899-6577.
For further information:
For further information: Ken Gracey, (604) 899-6577 or (B.C. & Alberta),