BCSC settles with former B.C. resident for breaching national mining standard

VANCOUVER, BRITISH COLUMBIA–(Marketwired – July 21, 2017) – In a settlement agreement with the British Columbia Securities Commission (BCSC), Wally Elmer Boguski admitted to his responsibility for the deficient disclosure of two junior mineral exploration companies.

Boguski was a B.C. resident during the relevant period and the president, CEO, and a director of both Victory Resources Corporation and Sierra Iron Ore Corporation (now known as Crystal Lake Mining Corporation). Boguski is no longer the president, CEO, and a director of Victory, but retains those positions at Crystal Lake.

The agreement states that between 2011 and 2013, Boguski caused both Victory and Sierra to issue disclosure that contained deficiencies and errors, in contravention of various provisions of National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101). NI 43-101 protects investors by providing transparency surrounding mining resource estimates, capital and operating costs, and economic analysis. As a director and officer of Victory and Sierra, Boguski is liable for both companies’ contraventions of NI 43-101.

The agreement acknowledges that Boguski cooperated with BCSC staff throughout the disclosure reviews and made efforts to comply with staff directions.

Boguski undertakes to pay $20,000 in respect of settlement of this matter. He is also banned from acting as a director or officer of any issuer (with certain exceptions) until July 20, 2018, or the successful completion of a course on the requirements of NI 43-101, whichever is later.

You may view the settlement agreement on our website, www.bcsc.bc.ca, by typing Wally Elmer Boguski or 2017 BCSECCOM 231 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

Hydro One’s purchase of U.S. utility puts empire building ahead of Ontario rate payers

TORONTO, ONTARIO–(Marketwired – July 20, 2017) – Hydro One’s purchase of U.S. gas and electricity utility, Avista, saddles the company with $6 billion in new debt that puts Ontario rate payers at risk of further rate increases, says CUPE Ontario President Fred Hahn.

“If you needed proof that privatizing Hydro One is bad for the people of Ontario, this is it,” said Hahn. “Under public control the company’s mandate was to deliver reliable and affordable power to Ontarians. Now it’s a private, predatory company focused on profits and building a private multi-national electricity empire.”

“And they’re taking on billions in debt that the people of Ontario will have to cover if their gamble doesn’t pay-off,” Hahn said. “This is not good for Ontario and now it’s not good for the people of Oregon, Washington and Alaska.”

Hydro One borrowed $3.4 billion to finance the purchase of Avista that also includes taking on the company’s $2.3 billion in US based debt.

Since private interests took over majority control of Hydro One this spring, the company has already applied for and been granted a rate increase and is now gobbling up local public utilities across Ontario and now in other countries.

“Our grandparents bought and paid for Ontario’s hydro system to make sure our province could always count on reliable and affordable power for our home, our industries and our small businesses,” said Hahn. “And now Ontario Energy Minister Glen Thibeault has the audacity to try and spin this as a positive and intended consequence of his government’s privatization plan – it’s Orwellian.”

Ontario’s largest trade union, CUPE is also a member of the Keep Hydro Public Coalition and is currently pursuing a misfeasance suit against the Ontario government over the privatization of Hydro One.

CUPE is Ontario’s community union, with more than 260,000 members providing quality public services we all rely on, in every part of the province, every day. CUPE Ontario members are proud to work in social services, health care, municipalities, school boards, universities and airlines.

Contact Information:
Sarah Jordison
CUPE Communications
416-578-5638
www.cupe.on.ca

CUPE welcomes new members at Grand View Manor, Berwick

BERWICK, NOVA SCOTIA–(Marketwired – July 20, 2017) – The Canadian Union of Public Employees (CUPE) is pleased to welcome our newest members, the employees of Grand View Manor in Berwick, Nova Scotia. Votes were counted by the Nova Scotia Labour Board today and CUPE is happy to welcome this newly certified local.

“We are pleased to welcome the new members of CUPE Local 5183, Grand View Manor, and we will work hard to represent them,” says CUPE National Representative Grant Dart.

CUPE now represents just over 200 members at Grand View Manor, a long-term care and community services facility. The new local at Grand View Manor represents members who work as licensed practical nurses, continuing care assistants and health care aides, as well as staff in dietary, payroll, scheduling, environmental services, laundry, housekeeping and maintenance. In addition to the new members at Grandview Manor, CUPE represents more than 3,200 long term care workers in communities across Nova Scotia.

“Thank you to all employees of Grand View Manor for their patience and dedication through this long process,” says Dart. “We look forward to working with this dedicated group of new CUPE members, as well as the employer, to reach a first collective agreement,” adds Dart.

The Canadian Union of Public Employees is Canada’s largest union representing more than 640,000 members across Canada. In Nova Scotia, CUPE represents approximately 19,000 members working in the public sector, including health care facilities, personal care homes, school boards, municipal services, social services, child care centres, public utilities, libraries and family emergency services.

Contact Information:
Grant Dart
CUPE National Representative
902-921-1304

Colleen Reynolds
CUPE Atlantic Communications
902-809-2253