CALGARY,
AB, Aug. 13, 2024 /CNW/ - The Alberta
Securities Commission (ASC) has extended an Interim Order against
Craig Michael Thompson along with
two companies he controlled, Black Box Management Corp. and Invader
Management Ltd. (collectively, the Respondents).
On April 2, 2024, the ASC Staff
issued a Notice of Hearing alleging that the Respondents
perpetrated a fraud on investors and breached
registration requirements by raising about $150 million from approximately 1,000 investors
between March 2020 and September 2023. The case is scheduled to be heard
by an ASC hearing panel in October
2024 and the allegations have not yet been proven.
The original Order, dated of October 27,
2023, has been extended and remains in effect until the
panel determines whether or not the Respondents have contravened
Alberta securities laws.
The Order requires that the Respondents:
- Must cease trading in or purchasing any securities or
derivatives;
- Are prohibited from using any exemption contained in
Alberta securities laws;
- Are prohibited from engaging in investor relations
activities;
- Are prohibited from advising in securities or derivatives;
and
- Are prohibited from becoming or acting as an investment fund
manager.
A copy of the Interim Order extension can be found at
asc.ca.
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