ASC sanctions Paul Anthony Ogilvie for breaching Alberta securities laws

CALGARY, AB, March 23, 2023 /CNW/ - The Alberta Securities Commission (ASC) has sanctioned Paul Anthony Ogilvie for making misrepresentations in connection with two news releases issued by Saint Jean Carbon Inc. (Saint Jean) in February and March 2017.

An ASC panel previously determined that Ogilvie, a senior officer and director of Saint Jean at the time of the misrepresentations, was responsible for making materially misleading or untrue statements in two corporate news releases. In its sanction decision, the ASC panel ordered that Ogilvie be restricted from acting as a director or officer of any issuer for three years, and that he pay an administrative penalty of $60,000 and investigation and hearing costs of $30,000. The panel stated in its decision that Ogilvie's conduct as a senior executive with responsibility for disclosure to the capital market "fell short of expected standards and constituted a serious contravention of Alberta securities laws."

A copy of the decision is available on the ASC website 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 Media Inquiries: Theresa Schroder, Senior Advisor, Communications, [email protected]; For Investor Inquiries: ASC Public Inquiries, Toll Free 1.877.355.4488