In the BCSC settlement agreement, Gaele McErvel, 66, a retired teacher from Golden, B.C., admitted that she helped Solara Technologies Inc. distribute securities to approximately 34 investors, some of whom were her friends or acquaintances. At the time, McErvel was not registered to trade securities.
Solara has never filed a prospectus to distribute securities, and for the purposes of settlement, McErvel agreed that the exemptions Solara claimed to rely upon to allow for the distributions did not apply in the circumstances.
McErvel and her family invested approximately
Under the settlement agreement, McErvel is prohibited for three years from acting as a director or officer of any issuer, acting in a management or consultative capacity in connection with activities in the securities market, and engaging in investor relations activities. She is also banned for three years, except in limited circumstances, from trading in and purchasing any securities.
A hearing into similar allegations against
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 agreement on our website www.bcsc.bc.ca by typing in the search box, Gaele McErvel or 2009 BCSECCOM 625. If you have questions, contact
Learn how to avoid investment fraud at the BCSC's investor education website: www.investright.org.
SOURCE British Columbia Securities Commission
For further information: For further information: Ken Gracey, (604) 899-6577 or (Canada) 1-800-373-6393
British Columbia Securities Commission
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