El Capitan Precious Metals Inc (ECPN)

[georgeiporgi]

Git, What matters is the intention of the release and what it leads people to believe. Not the exact wording.

Clearly that release is worded to lead a reader to believe that the 7 tonnes of concentrates contain $3.7 million in precious metals. If that is known to be not true then the PR is intentionally misleading. If it becomes known to a issuer that a statement made is not true after the PR is released then the issuer is obligated to immediately issue corrections to the false and misleading statements.

Rule 10b-5, It shall be unlawful for any person, directly or indirectly, by the use of any means or instrumentality of interstate commerce, or of the mails or of any facility of any national securities exchange,

(a) To employ any device, scheme, or artifice to defraud,

(b) To make any untrue statement of a material fact or to omit to state a material fact necessary in order to make the statements made, in the light of the circumstances under which they were made, not misleading, or

(c) To engage in any act, practice, or course of business which operates or would operate as a fraud or deceit upon any person,
in connection with the purchase or sale of any security.