ASC extends Interim Order against Calgary resident Craig Michael Thompson, Black Box Management Corp., and Invader Management Ltd.

CALGARY, AB, Aug. 13, 2024 /CNW/ - The Alberta Securities Commission (ASC) has extended an Interim Order against Craig Michael Thompson along with two companies he controlled, Black Box Management Corp. and Invader Management Ltd. (collectively, the Respondents).

On April 2, 2024, the ASC Staff issued a Notice of Hearing alleging that the Respondents perpetrated a fraud on investors and breached registration requirements by raising about $150 million from approximately 1,000 investors between March 2020 and September 2023. The case is scheduled to be heard by an ASC hearing panel in October 2024 and the allegations have not yet been proven.

The original Order, dated of October 27, 2023, has been extended and remains in effect until the panel determines whether or not the Respondents have contravened Alberta securities laws.   

The Order requires that the Respondents:

• Must cease trading in or purchasing any securities or derivatives;
• Are prohibited from using any exemption contained in Alberta securities laws;
• Are prohibited from engaging in investor relations activities;
• Are prohibited from advising in securities or derivatives; and
• Are prohibited from becoming or acting as an investment fund manager.

A copy of the Interim Order extension can be found at asc.ca.

The ASC is the regulatory agency responsible for administering the province's securities laws. It is entrusted with fostering a fair and efficient capital market in Alberta and with protecting investors. As a member of the Canadian Securities Administrators, the ASC works to improve, coordinate and harmonize the regulation of Canada's capital markets.

SOURCE Alberta Securities Commission

For further information please contact: For Media Inquiries: Gabrielle Chamiço, Advisor, Communications, [email protected]; For Investor Inquiries: ASC Public Inquiries, [email protected], Toll Free 1.877.355.4488