Espunged? Totally Cleared?Based on what yesterday's BCSC Report says below.....I wouldn't necessarily use the words "espunged" or "totally cleared".
But yes, the 'Cease Trade Order has been lifted against PREV. Now you can look forward to some renewed selling pressure, for your Consultants can now sell their remaining 30 million shares. And it looks like that pressure has already started.
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[31] With respect to the remaining seven Issuers (Kootenay, Affinor, Beleave, Liht, PreveCeutical, Speakeasy and Abattis), we find that the executive director has not provided prima facie evidence of their having engaged in conduct contrary to the public interest. The evidence establishes that they completed private placements with certain of the Non-Issuer Respondents using the Consultant Exemption and that the subscribers then quickly sold most of their shares acquired in the private placements at an average price less than the subscription price. There is also evidence that three of these Issuers paid significant consulting fees during the same financial period as the private placements, but we have no evidence on the nature of these services and to whom they were paid. That is suspicious and involves elements of the transactions of the other four Issuers. However, this evidence is closer to the “unsubstantiated suspicion” described inFairtide than prima facie evidence of misconduct. Therefore, we are not going to extend the temporary orders against these seven Issuers.