Core Capital Partners Inc. Responds to BCSC Notice of Hearing

/NOT FOR DISTRIBUTION IN THE U.S./

VANCOUVER, BC, July 24, 2023 /CNW/ - Over four years ago, in April 2019, Core Capital Partners Inc. ("Core Capital") was notified by a third party that the British Columbia Securities Commission ("Commission") had frozen several bank accounts, brokerage accounts and certain real assets of its principal Mr. Kam Thindal and its Chief Financial Officer Mr. Aman Thindal. 

Core Capital is, and has always been, committed to maintaining and adhering to the highest levels of compliance and ethical business practices. We have been working with the Commission openly and transparently throughout their investigation, which has now spanned over five years. For personal and professional reasons, we had hoped to conclude this matter without the need for a public spectacle.

The Commission's investigation has proceeded over five years. During this time, the Commission has had access to our personal and business bank accounts, brokerage accounts, trading history, and personal communications. In that same time, we have expended countless hours and incurred significant legal expense navigating the process, and had to go to incredible lengths to protect our interests and privacy, without an opportunity to defend ourselves.

We have grown increasingly concerned with the Commission's use of its significant and largely unchecked powers – to freeze our assets for over 4 years without any allegation of wrong-doing, and to pursue what we view is a meritless investigation. We repeatedly communicated our concerns to the Commission, and were advised on several occasions that the investigation was near completion. In fact, we were given dates for when the investigation would be completed, only to have those dates pass without further action.

Today, the Commission has finally issued a Notice of Hearing publicizing allegations relating to events in 2017 and 2018. We believe these allegations are without merit and look forward to defending them vigorously, and concluding this matter without further delay.

SOURCE Core Capital Partners Inc.

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