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by Mike Caswell

The B.C. Securities Commission has imposed a six-year ban and $50,000 in financial penalties on Ron Loudoun, the former president of OTC Markets listing Green Hygienics Holdings Inc., for improperly selling shares. The BCSC said that Mr. Loudoun and Green Hygienics sold $5.4-million worth of stock and $3-million worth of notes in violation of a cease trade order. Mr. Loudoun, a resident of Vancouver and Kelowna, was aware of the cease trade, the BCSC said.

The penalties for Mr. Loudoun and Green Hygienics are contained in a decision that the BCSC released on Monday, June 15. The decision orders Mr. Loudoun to resign any position that he holds as an officer or director and bars him from taking on such a role until June 12, 2032. He is also prohibited from engaging in promotional activities. In addition to the $50,000 fine for Mr. Loudoun, the BCSC has ordered Green Hygienics to pay $20,000.

The penalties arise from events that occurred between October, 2019, and March, 2022, when Green Hygienics distributed 5.6 million shares, valued at $5.4-million, to 50 investors. The company also issued two promissory notes, worth $3-million, the BCSC said. On top of that, Mr. Loudoun personally sold 250,000 shares, according to the BCSC.

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