Cache Exploration Inc V.CAY

Oh schitt ... it gets worse about jacks new business buddy

[KozmoT]

2018-BCSECCOM-369.pdf (bcsc.bc.ca)

"1 The British Columbia Securities Commission (Commission) will hold a hearing under s. 161(3) of the Securities Act, RSBC 1996, c. 418 (the Act), to determine whether to extend the temporary order under section 161 based on the following facts:

Summary

1. Commission staff are investigating whether the Respondents violated securities legislation by participating in a scheme that involves conduct abusive to the capital markets and the illegal distribution of securities.

2. Staff are concerned that members of the BridgeMark Group generated profits for themselves and that the Issuers raised capital through the scheme, as follows:
(a) members of the BridgeMark Group entered into agreements to provide consulting services to the Issuers,
(b) members of the BridgeMark Group paid for free-trading securities of the Issuers through private placements,
(c) the Issuers issued securities through private placements to members of the BridgeMark Group relying on the consultant exemption to the prospectus requirement in section 2.24 of National Instrument 45-106 (Consultant Exemption),
(d) members of the BridgeMark Group purported to be consultants under the Consultant Exemption but were not,
(e) the Issuers paid most of the private placement funds back to members of the BridgeMark Group and kept very little of the money raised,
(f) members of the BridgeMark Group sold securities of the Issuers in the market, often at prices below the private-placement acquisition cost, and
(g) the Issuers issued news releases informing the market they raised the full amount of the private placement when they had only retained a small portion of the funds.

3. By engaging in the conduct set out in this Notice of Hearing, the BridgeMark Group engaged in conduct that is abusive to the capital markets, and the Issuers illegally distributed securities, contravening section 61 of the Act. 4. Temporary orders are required to stop the Respondents from abusing the capital markets while Commission staff complete their investigation. The length of time 3 required to hold a hearing into possible misconduct by the Respondents could be prejudicial to the public interest." 

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14. JCN Capital Corp. (JCN) is a BC company whose registered and records office is the same as BridgeMark. 15. John Rosarino Bevilacqua is a resident of Vancouver, BC. He is the sole director of JCN