Briefing

    Ontario cannabis company admits it participated in securities scam

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    Beleave has reached a settlement with the British Columbia Securities Commission (BCSC) after admitting it wrongfully paid $7.5 million to “consultants.” The individuals didn’t do any consultant work, but they used a “consultant exemption” under securities law to purchase company stock. They then sold the shares at a discount, leaving retail investors with depreciated stock. Beleave reached a settlement with the BCSC after overhauling its board and management teams and creating audit and governance committees. (Globe and Mail)

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