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ARTICLE · 19 JUNE 2019

Request To Stay A Securities Regulatory Sanctions Hearing: An Uphill Battle

In Re Mountainstar Gold Inc., 2019 BCSECCOM 123, the British Columbia Securities Commission gave short shrift to a request by the respondents...

CanadaCorporate/Commercial Law

In Re Mountainstar Gold Inc., 2019 BCSECCOM 123, the British Columbia Securities Commission gave short shrift to a request by the respondents for a stay of the Commission's imposition of sanctions against them until after certain legal proceedings in Chile.

At the conclusion of the Commission's hearing on the merits, it determined that over a 3-year period, Mountainstar Gold Inc. had repeatedly contravened section 168.1(1)(b) of the British Columbia Securities Act by making disclosure in its public filings concerning certain Chilean mining claims and related legal proceedings that was false or misleading in a material respect, and that Brent Hugo Johnson, an officer and director of Mountainstar, authorized, permitted or acquiesced in those contraventions.

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