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Gold/Mining/Energy : Rubberman's picks for the second half of 1998 -- Ignore unavailable to you. Want to Upgrade?


To: The Fix who wrote (253)10/15/1998 8:47:00 AM
From: Mr Metals  Read Replies (1) | Respond to of 405
 
Where does GUMBY find these guys.

Globe says TSE charges John Ing with share price fixing
Sonora Diamond Corp SON
Shares issued 89,486,350 1998-10-13 close $0.05
Thursday Oct 15 1998
The Globe and Mail reports in its Thursday, Oct. 15, 1998 edition that John Ing, the president of Maison Placements Canada, has been charged by the Toronto Stock Exchange with manipulating the share price of a penny stock in order to facilitate an $8-million to $10-million private placement. The Globe's Allan Robinson writes that the TSE alleged yesterday before a three member tribunal that Mr. Ing was responsible for an order to sell 15,000 shares of Sonora Gold (now Sonora Diamond of Toronto), placed late in the day on Oct. 30, 1996. That sell order in the thinly traded stock was enough to drive the shares of Sonora down to 37.5 cents from about 45 cents each. The TSE claims the broker wanted to drive the stock down in order to complete a private placement at 30 cents a share. The TSE alleges the trading paved the way for a private placement consisting of shares and warrants at an unduly low price.

(c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com

MM



To: The Fix who wrote (253)10/15/1998 9:20:00 AM
From: Mr Metals  Read Replies (1) | Respond to of 405
 
GUMBY made the news again. He's making the headlines every day.

BC Securities Commission -
Van Sun says broker believed lawyer in Stanhiser scheme
BC Securities Commission BCSEC
Shares issued 0 1899-12-30 close $0
Thursday Oct 15 1998

The Vancouver Sun reports in its Thursday edition that a Vancouver stockbroker who acted as a conduit for a "loan" scheme into which investors sunk millions of dollars in junior stocks says that a local lawyer assured him the scheme was legal. Reporter David Baines notes that John Johnston of Canaccord Capital told a British Columbia Securities Commission panel that Vancouver lawyer Stephen Dadson told him the scheme concocted by former California preacher Gary Stanhiser did not breach securities rules. Mr. Johnston told the three-person panel that he asked Mr. Dadson straightforward if it was legal and the lawyer assured him it was. Commission staff, however, allege the loan scheme was a sham and that investors understood their money was being pooled to buy shares privately from junior companies, thereby circumventing minimum investment rules. Staff also allege that in most cases, the 300 B.C. and United States investors who sunk $15-million into the scheme through Mr. Stanhiser's offshore companies did not receiver their shares or recover their money.

(c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com

MM