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by Mike Caswell

The B.C. Securities Commission has determined that Mountainstar Gold Inc. and its president, Brent Hugo Johnson, misled investors between 2012 and 2015 with claims related to Barrick Gold Corp.'s Pascua Lama project in Chile. Mountainstar said that it had a process under way in Chile to obtain part of the project, but it failed to fully disclose several court losses, the BCSC has found. The disclosure failures came as the company paid $4.6-million (U.S.) to a Chilean man as part of an agreement for the project.

The findings are contained in a decision that the BCSC released on Friday, Oct. 12. They come after a hearing that the regulator held in January, February and March, 2018, before a three-member panel. Mr. Johnson attended the hearing on behalf of himself and Mountainstar. (He requested an adjournment at one point to obtain a lawyer, but the panel turned him down after he was unable to show how he would pay for one. The panel members also noted that they had received extensive written submissions from Mountainstar's corporate lawyer.)

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