British Columbia Securities Commission

British Columbia Securities Commission

October 09, 2007 09:30 ET

British Columbia Securities Commission: Former President of OTC BB Company Sanctioned

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 9, 2007) - The former president of a Vancouver-based mining company paid a $50,000 fine and had his ability to participate in the province's capital markets limited for two years by the British Columbia Securities Commission after he admitted to approving the dissemination of an investor relations newsletter and press releases that contained misleading statements.

In a settlement agreement with the BCSC, Brent Glen Jardine admitted that he approved the content and publication of a newsletter and press releases that misrepresented the value of the Nevada gold and copper properties of Aberdene Mines Ltd.

From Jan. 27, 2004 to May 31, 2006, Jardine was a director and the president of Aberdene, which now operates as Canyon Copper Corp. The company trades on the U.S. over-the-counter bulletin board.

Even though Aberdene was not a reporting issuer under the B.C. Securities Act, it had significant connections to the province. Aberdene's head office was in Vancouver and the majority of its directors and officers lived in the province, including Jardine who lives in Vancouver. The company conducted investor relations from Vancouver and made a number of private placements to B.C. residents.

As Aberdene's president, Jardine signed off on a 17-page, full-colour promotional brochure that contained misleading statements. Jardine approved the content of the brochure and its distribution to 500,000 U.S. residents as a newsletter. It was also available on the Internet. In addition, Jardine approved news releases that disclosed mineral resources and reserves without ensuring Aberdene obtained the technical report it was required to file under NI 43-101.

Under the settlement, Jardine is prohibited from becoming or acting as a director or officer, except in limited circumstances, for two years. He is also prohibited from engaging in investor relations activities for two years.

The B.C. Securities Commission is the independent provincial government agency responsible for regulating trading in securities within the province. You may view the settlement on our website by typing in the search box, Brent Glen Jardine or 2007 BCSECCOM 601. If you have questions, contact Ken Gracey, Media Relations, 604-899-6577.

Contact Information

  • British Columbia Securities Commission
    Ken Gracey
    Media Relations
    (604) 899-6577 or (B.C. & Alberta) 1-800-373-6393