Agreed Statement of Facts. The parties shall develop an agreed statement of facts and shall exchange reliance documents prior to the hearing. Disclosure of relevant or potentially relevant documents is a mutual and ongoing obligation before and during the particular hearing.
Agreed Statement of Facts. 2 As the basis for the undertakings and orders referred to in this settlement, Xxxx acknowledges the following facts as correct:
Agreed Statement of Facts. Background
Agreed Statement of Facts. The parties shall, within a period of time specified by the Tribunal, identify those facts that are not in dispute and submit to the Tribunal and file with the Institute an agreed statement of facts.
Agreed Statement of Facts. As the basis for the undertakings and orders referred to in this settlement, and solely for securities regulatory purposes, Xxxx acknowledges the following facts as correct:
Agreed Statement of Facts. 2.1 The Respondent is a resident of the City of Calgary, in the Province of Alberta. He is 67 years old. Since 1993, he has been licensed to sell mutual funds and employed as a mutual fund salesman. Prior to 1993, the Respondent was employed as a butcher. At no time has the Respondent ever been registered to sell securities under the Alberta Securities Act;
2.2 518718 Alberta Ltd., operating as Alberta Business Capital ("ABC") was incorporated under the laws of Alberta on February 12, 1992 as a private company, as that term is defined in the Act; 2.3 at all material times, the directors of ABC were Xxx Xxxxxx and Xxxx Xxxxxx;
2.4 prior to becoming a mutual fund salesman, the Respondent became acquainted with Xxxx Xxxxxx, who was a regular customer of his butcher business;
2.5 when Xxxx Xxxxxx offered the Respondent the opportunity to work for ABC as a commissioned salesman, the Respondent accepted;
2.6 subsequently, between June, 1997 and April, 1998, the Respondent traded in securities, to wit, promissory notes, in ABC to 7 investors (the "Investors"), raising a total of $167,761.44;
2.7 the monies raised from the Investors were purportedly raised in reliance on the exemptions from the registration and prospectus requirements contained in subsections 66(j) and 115(a) of the Act, commonly referred to as the "private company" exemption;
2.8 all of the Investors with whom the Respondent traded in the securities of ABC were clients to whom he had sold mutual funds or insurance policies;
2.9 the Investors were all well-known to the Respondent and included his mother;
2.10 as a result of the trades in securities described in paragraph 2.6 above, the Respondent earned $7,569.00 in commissions;
2.11 upon being advised by Commission Staff that his activities in trading in securities without being registered under the Act to do so were the subject of investigation, the Respondent immediately ceased such trading activities;
2.12 by selling securities without being registered under the Act to do so, the Respondent acted in a manner contrary to the Act, the Rules and the public interest.
Agreed Statement of Facts. 2.1 Blond Bear was incorporated under the laws of Alberta on July 18, 1996;
2.2 at all material times the Respondents were directors and management of Blond Bear;
2.3 Blond Bear caused to be filed with the Alberta Securities Commission a prospectus pursuant to the junior capital pool policy in Alberta. The final receipt for that prospectus was issued on December 24, 1996. Blond Bear was listed on the Alberta Stock Exchange as a junior capital pool Company on March 18, 1997. Blond Bear announced at the time of the listing the non- arm=s length acquisition of Mainchan Communications Group Inc. ("Mainchan") as its proposed Major Transaction (as that term was defined in policy 4.11);
2.4 at a time when Blond Bear was still listed as a junior capital pool company on the Alberta Stock Exchange and at a time when it had not yet completed its Major Transaction (as that term was defined in policy 4.11) it caused a loan to be made to Mainchan in the sum of $82,277.00;
2.5 Blond Bear breached s.84 of the Act in that the loan resulted in Blond Bear using the funds in a manner contrary to the manner spelt out in its prospectus and hence the disclosure on the use of proceeds in the prospectus was not full, true and plain. Further, by making this loan, Blond Bear offended s. 2.12 of policy 4.11 by spending more than 30% (at least 49%) of its proceeds from the sale of all securities other than in pursuit of its intended business purpose and objectives; and,
2.6 Mainchan has paid Blond Bear $100,000.00. This payment was made in order to repay the entire loan amount of $82,277.00 with the balance being a payment intended to cover additional costs which may arise and/or have arisen. The payment by Mainchan to Blond Bear was made after the Alberta Stock Exchange raised concerns and was deposited into a Blond Bear account on June 1, 1998.
Agreed Statement of Facts. Unless the Tribunal orders otherwise, the parties must identify facts they do not dispute and deliver an agreed statement of facts to the Tribunal.
Agreed Statement of Facts. 2 As the basis for the undertakings and orders referred to in this Settlement Agreement, the Respondents acknowledge the following facts as correct:
