Business
BCSC Cease Trade Order
BCSC Cease Trade Order.
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[{"type":"text","content":"Citation: 2018 BCSECCOM 346Cease Trade OrderAmerican CuMo Mining CorporationSection 164 of the Securities Act, R.S.B.C. 1996, c. 418¶ 1 American CuMo Mining Corporation (American CuMo) is a reporting issuer incorporated in British Columbia with its head office in Vancouver, BC. Its securities are listed on the TSX-Venture Exchange.¶ 2 In its April 10, 2018 news release, American CuMo disclosed the results of a preliminary economic assessment (PEA) on its CuMo property (the PEA disclosure) that would constitute a material change in relation to American CuMo.¶ 3 Under 4.2(1)(j)(ii) of National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101), American CuMo is required to file a technicalreport to support the PEA Disclosure.¶ 4 On May 29, 2018, American CuMo filed a technical report for the CuMo property (the Report). American CuMo did not complete the Report in accordance with NI 43-101.¶ 5 In a September 17, 2018 research report issued on behalf of American CuMo, American CuMo disclosed mineral reserves at its CuMo property (the Reserves disclosure) that would constitute a material change in relation to American CuMo.¶ 6 Under 4.2(1)(j)(i) of NI 43-101, American CuMo is required to file a technical report to support the Reserves disclosure. American CuMo has not filed a technical report to support the Reserves disclosure.¶ 7 Under section 164(1) of the Act, the Executive Director orders that all persons cease trading in American CuMo securities until:1. American CuMo files a technical report to support the PEA and Reserves disclosure, completed in accordance with the Act and rules, and2. the Executive Director revokes this order.¶ 8 Despite this order, a beneficial shareholder of American CuMo who is not, and was not at the date of this order, an insider or control person of American CuMo, may sell securities of American CuMo acquired before the date of this order, if:1. the sale is made through a market outside Canada, and2. the sale is made through an investment dealer registered in British Columbia.¶ 9 November 2, 2018Christopher Collins, P. Geo.Chief Mining AdvisorCorporate FinanceOriginal","length":2800,"tagName":"div"}]