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by Mike Caswell

The B.C. Securities Commission has fined and banned Varandeep Singh Grewal, a Vancouver man who misled investors in a junior metals listing, helping to distribute material that claimed the company was actively mining, among other things. The BCSC says that Mr. Grewal sent materials through e-mail distributions and website advertising. He was carrying out investor relations on behalf of the company, according to the BCSC.

The penalties for Mr. Grewal are contained in a very brief settlement agreement that the BCSC released on Friday, Feb. 13. Mr. Grewal has accepted a 10-year ban that prohibits him from trading, serving as an officer or director, and promoting stocks. He must also pay a $500,000 fine.

The case, as briefly spelled out in the settlement, arises from investor relations activities that Mr. Grewal performed in 2018 for a company (name not mentioned) that traded on the Canadian Securities Exchange. According to the BCSC, Mr. Grewal helped to arrange for material to be distributed to potential investors through websites and e-mail lists. That material, as described in the settlement, contained misleading claims about the company.

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