AQUI NEWS
In April 2009, our President, Dr Paul A. Taillefer – who was at the time Chairman of the Audit Committee – was told that the Autorité des Marchés Financiers (AMF), the Canadian equivalent of the Security Exchange Commission (SEC), was looking into the share transactions done by the company.
One must recall that Manuel Da Silva had been recently relieved of his functions in the company for conduct inappropriate for the president of Aquagold International Inc., March 28, 2009
Since Dr Taillefer was convinced that all the transactions made by the company were legal, he asked for an audition by the AMF to clarify the situation. The audition took part on April 16, 2009. Based on the information given by Dr Taillefer the company was cleared of any wrongdoings.
So the company was very surprised to be accused on June 11, 2011 of having been involved in three of the 42 legal proceedings against Manuel Da Silva.
The three persons mentioned in the proceedings were unknown to the company. So immediately our president sent a letter to the pursuit lawyer asking for 1. - The transfer of the file concerning the cases 2. - All the details of the accusations and 3. - The dismissal of the cases.
We were told that they would not withdraw the accusations and to wait for the documents
We received the documents 11 months later, May 2012. They were all based on interrogations that had taken place 2 years earlier and on the face of it, it was obvious that Aquagold had NOTHING to do with the cases.
Once more on May 30, 2012, Dr Taillefer sent another long letter analysing the documents and showing the elements proving, without a shadow of a doubt, that Aquagold International was not involved in the procedures involving solely Manuel Da Silva.
We finally got the attention of the AMF and on September 5, 2012, the lawyer in charge of the case officially withdrew the accusations after telling Dr Taillefer on
the phone that the AMF recognized that they had no proofs against Aquagold International Inc.
“Our company has always strived to operate under the most stringent ethic and will never accept that anybody involved with the company conducts himself in any other way” quoted our president, “we are now cleared to go on with our business”
