Wednesday, November 26, 2014 3:38:36 PM
Info regarding act and regulation 51-105:
http://www.lautorite.qc.ca/files//pdf/reglementation/valeurs-mobilieres/51-105/2012-05-10/2012mai10-51-105-avis-publ-en.pdf
ROUGH translation of CTO:
DECISION No 2014-CNF-0171
FILE NO: 35676
Subject: Global Clean Energy, Inc.
Prohibition of securities transactions
Having regard to Decision 2014-CNF-0135, delivered May 28, 2014, prohibiting immediately Global Clean Energy, Inc. (the "issuer of the OTC market") and its securityholders, brokers and their representatives and any other person, any activity related to trading in securities of the reporting issuer's counter market for a period of
15 days from the date of the prohibition decision (the "interim decision");
Given the failure of the reporting issuer's option-counter market to file with the Autorité des marchés financiers (the "AMF") documents and information (the "failure") required under Article 73 of the Law on Securities, RSQ, c. V-1.1 (the "Act") and Article
5 of Regulation 51-105 issuers listed on US counter markets will, RRQ, c. V-1.1, r. 24.1 ("Regulation 51-105");
Given the temporary decision sent to the issuer of the contract by voluntarily informing
the following:
- It was in the public interest to issue a cease its values as a result of its failure to file the documents and information required under the Act and Regulation 51-105;
- There was urgency to pronounce this decision and any deadline for it to submit its comments could harm;
In view of the notice under section 318 of the Act included in the temporary decision by which
Authority advised the reporting issuer's option contract which it intends to pronounce the
June 12, 2014, pursuant to section 265 of the Act, a new ban on operations
values if it was still missing to file with the Authority, the documents and information required under the Act and Regulation 51-105;
Given the failure of the issuer of the contract by the option to remedy the breach of the date of this decision;
Having regard to Articles 265, 267 and 318 of the Act;
Given the powers delegated in accordance with Article 24 of the Authority Procurement Act
financial, R.S.Q., c. A-33.2.
FILE NO: 35676
- 2 -
Consequently, the Authority:
prohibits Global Clean Energy, Inc. and its securityholders, brokers and their representatives, as well as any other person, any activity related to trading in securities of the reporting issuer's counter market because that it did not comply with their obligations under Regulation 51-105.
You may ask, within 30 days, the revision of this decision to the Bureau decision and review established under section 92 of the Act respecting the Autorité des marchés financiers, RSQ, c. A-33.2 in accordance with section 322 of the Act.
The Authority may revoke this decision under section 318 of the Act if the issuer of the OTC market to remedy the breach satisfactorily.
The prohibition is June 12, 2014 and remains in effect until it is
modified or terminated.
Josée Deslauriers
Principal Investment Fund Continuous Disclosure and
MHA / jfl
Global Clean Energy, Inc.
4150, Ste-Catherine Street West, Suite 525
Montreal (Quebec) H3G 2Y5
Attention: Mr. Kenneth Adessky cc: OTC PINK
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