VANCOUVER, BC, July 28, 2022 /CNW/ - The British Columbia Securities Commission (BCSC) alleges that a Vancouver-based blockchain technology investment company and three of its officers made a misrepresentation about the sales of its shares.
BLOK Technologies Inc. announced in a news release in 2018 that it had raised approximately $5.4 million through a private placement. BLOK did not disclose that it had already spent or owed approximately $4.4 million on consulting fees, and would therefore only retain approximately $950,000 – less than 18 per cent of the amount raised.
The BCSC alleges that BLOK, which traded on the Canadian Securities Exchange, made a statement to investors that it knew, or ought to have reasonably known, was a misrepresentation to investors and violated the Securities Act.
Robert Earle Dawson, BLOK's president and CEO; James Joseph Hyland, its vice-president and director; and David Malcolm Alexander, its chief financial officer, are alleged to have authorized,...
Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.
INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...