British Columbia Securities Commission

British Columbia Securities Commission

June 30, 2017 14:00 ET

BCSC alleges that B.C. mining company made false or misleading statements in its public filings

VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 30, 2017) - The Executive Director of the British Columbia Securities Commission (BCSC) has issued a notice of hearing alleging that Mountainstar Gold Inc. made false or misleading statements in its required public filings. The notice also alleges that, as an officer and director of Mountainstar, Brent Hugo Johnson is liable for Mountainstar's misconduct.

Mountainstar is a reporting issuer under the Securities Act and Johnson was its president, CEO, and a director. In June 2011, Mountainstar announced that it had entered into an agreement under which it would pay several million dollars to acquire the right to purchase an interest in certain Chilean mining claims. The notice alleges that, over the following years, Mountainstar made multiple false or misleading statements in its required Management Discussion and Analysis (MD&A) filings regarding the mining claims and related Chilean legal proceedings.

These allegations have not been proven. Counsel for the Executive Director will apply to set dates for a hearing into the allegations before a panel of commissioners on August 22, 2017 at 9 a.m.

You may view the notice of hearing on our website, www.bcsc.bc.ca, by typing Mountainstar Gold Inc., Brent Hugo Johnson or 2017 BCSECCOM 218 in the search box. Information about disciplinary proceedings can be found in the Enforcement section of the BCSC website.

Please visit the Canadian Securities Administrators' (CSA) Disciplined List for information relating to persons and companies disciplined by provincial securities regulators, the Investment Industry Regulatory Organization of Canada (IIROC) and the Mutual Fund Dealers Association of Canada (MFDA).

About the British Columbia Securities Commission (www.bcsc.bc.ca)

The British Columbia Securities Commission is the independent provincial government agency responsible for regulating capital markets in British Columbia through the administration of the Securities Act. Our mission is to protect and promote the public interest by fostering:

  • A securities market that is fair and warrants public confidence
  • A dynamic and competitive securities industry that provides investment opportunities and access to capital

Learn how to protect yourself and become a more informed investor at www.investright.org

Contact Information

  • Media Contact:
    Alison Walker
    604-899-6713

    Public inquiries:
    604-899-6854 or 1-800-373-6393 (toll free)
    inquiries@bcsc.bc.ca