Autorité des marchés financiers

Autorité des marchés financiers

July 21, 2011 11:58 ET

Alleged Market Manipulation: Orders to Cease Trading and Shut Down Website

MONTRÉAL, QUEBEC--(Marketwire - July 21, 2011) - At the request of the Autorité des marchés financiers (the "AMF"), the Bureau de décision et de révision (the "Bureau") issued a decision on July 11, 2011 prohibiting, in particular, any transaction in the securities of Wanderport Corp. and Neuro-Biotech inc., due to alleged market manipulation.

More specifically, under this decision, Wanderport Corp., 65705442 Canada inc., Conseils Hilbroy inc. and their officers, directors and employees, as well as Jean-François Amyot, Andrea Cortellazzi and Andrew Barakett are prohibited from carrying out transactions in the security of Wanderport Corp.

The Bureau also ordered Neuro-Biotech inc., its officers, directors and employees, as well as Andrea Cortellazzi and Serge Ollu to cease carrying out any transaction in the securities of Neuro-Biotech inc.

In addition, the Bureau ordered IAB Média inc. to shut down the website "," which was used to promote the securities of Wanderport Corp.

The Bureau's analysis showed the complexity of this matter. "What we have here is a case of market manipulation involving numerous individuals. Over the years, their tactic was to promote the securities of some of the corporate respondents in order to pump up the value. They then sold their securities and pocketed the profits generated by the inflated price," stated the Bureau.

Serge Ollu and Andrea Cortellazzi face, respectively, 33 and 6 counts of illegal practice as a dealer and illegal distribution in the matter of Ressources minières Andréane. Fines of $404,000 and $56,000 respectively are sought.

The publication of this press release constitutes the method of service authorized by the Bureau of a decision issued on July 11, 2011 pertaining to the following individuals and companies: Andrea Cortellazzi, Xavier Demontigny, Jacques Vallée, Excel Gold Mining inc., 9157-0945 Québec inc., 9198-6208 Québec inc., Proactive Computer Services, Neuro-Biotech inc. and Wanderport Corp. Decision 2009-026-001 is attached to this press release and is also available on the AMF website (in French only) at under News.

The Autorité des marchés financiers (the "AMF") is the regulatory and oversight body for Québec's financial industry.

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