Mr. Ray Baterina reports
BEARING LITHIUM CORP. ANNOUNCES SETTLEMENT AGREEMENT
Further to the
Sept. 29, 2021,
news release announcing the notice of hearing, Bearing Lithium Corp. has entered into a settlement agreement with the B.C. Securities Commission.
Pursuant to the settlement agreement, Bearing (then known as Bearing Resources Ltd.) admits that it retained Stock Social Inc. (SSI), a marketing company, to conduct investor relations and that SSI disseminated advertorials and social media posts about Bearing during the period of January, 2017, to February, 2017, and failed to ensure such promotional materials disclosed were issued on behalf of Bearing, which is a contravention of Section 52(2) of the Securities Act (British Columbia). Jeremy Poirier, who was the chief executive officer and a director of Bearing at such time, also entered into a settlement agreement with the BCSC and admits that he authorized, permitted or acquiesced in Bearing's contravention of Section 52(2) of the act and therefore contravened the same provision. Bearing has paid the BCSC $25,000 in settlement of the matter, and Mr. Poirier paid the BCSC $10,000 in settlement of the matter.
The settlement agreement can be viewed on the BCSC's website by typing in 2022 BCSECCOM 293 in the search box.
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