09:30:51 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Crestview Exploration Inc
Symbol CRS
Shares Issued 13,516,932
Close 2020-06-23 C$ 0.58
Market Cap C$ 7,839,821
Recent Sedar Documents

Globe says six regulators issued warnings on Crestview

2020-06-23 07:59 ET - In the News

The Globe and Mail reports in its Tuesday edition that the Canadian Securities Administrators' annual enforcement report highlighted a spike in investor warnings in March, as COVID-19 spread in Canada and economic anxiety set in for retail investors. The Globe's Greg McArthur writes that CSA chairman Louis Morisset says: "The current situation is prone to fraud of all kinds. People, often elderly people, are more vulnerable and the number of fraudulent schemes that we are seeing, and [Canada Revenue Agency] is seeing are, unfortunately, extraordinary at the moment." Mr. Morisset says it is important that regulators act pro-actively and target possible scams before investors fall "into the trap." One example of such an alert is the case of Crestview Exploration, a penny stock that has been promoted through a pan-Canadian mail campaign launched in early April. Six securities commissions have issued warnings to the public about a letter, labelled "Coronavirus affecting markets: Read now," that promotes Crestview as a safe-haven investment despite the company holding zero dollars in precious metals reserves. Crestview denies any involvement in the promotion. Mr. Morisset sees more proceedings next year.

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