ASC alleges Saint Jean Carbon Inc. and Paul Anthony Ogilvie breached Alberta securities laws

CALGARY, AB, June 25, 2020 /CNW/ - The Alberta Securities Commission (ASC) has issued a Notice of Hearing alleging that Saint Jean Carbon Inc. and its CEO, Paul Anthony Ogilvie (Ogilvie) made misleading statements that would reasonably be expected to have a significant effect on the market price or value of Saint Jean Carbon's securities. The misleading statements are alleged to have been made in two news releases issued in February and March 2017.

The allegations have not been proven.

An appearance to set a date for a hearing will be held on August 12, 2020 at 1:00 p.m.

On March 21, 2017, the ASC issued an Interim Order against the "reporting insiders," as that term is defined in section 1.1 of National Instrument 55-104 Insider Reporting Requirements and Exemptions, of Saint Jean Carbon Inc. The Interim Order prohibits all trading in the securities of Saint Jean Carbon Inc. by the reporting insiders. The Interim Order was extended on April 4, 2017 and remains in effect until the proceedings commenced by the Notice of Hearing are concluded. 

A copy of the Notice of Hearing can be found on the ASC website at albertasecurities.com.

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