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The BridgeMark Group scam and Prize Mining (PRZ.v): The Alberta Securities Commission lays it out

A must-read report for anyone who cares enough about Canada’s capital markets to want them cleaned of scumbags and rip-off merchants. North Shore News has the gig, which sets the scene for the hearing in the Alberta Securities Commission hearing brought against Prize Mining (PRZ.v) with company CEO and chief enabler of this scam present in the room, Mike McPhie. Here’s an excerpt:
Prize entered a deal in July 2018 to issue $6.5 million worth of new
shares to 18 BridgeMark Group consultants while simultaneously agreeing
to $5.5 million worth of prepaid services for marketing and investor
relations, the ASC claimed.
The claim mirrors allegations set out by the BCSC, which claims at
least 11 Canadian Securities Exchange (CSE)-listed companies issued
about $51 million worth of shares to so-called consultants, under
consultant exemptions, but repaid most of the money in consulting
agreements. The companies touted the fundraising activity as investor
interest. BCSC says actual consulting didn’t occur. The consultants,
dubbed the BridgeMark Group by the BCSC, then immediately flogged the
shares for an overall profit to retail investors, who were then left
with devalued shares.
It’s unknown if the Prize consultants sold off their shares, although the stock is now trading at $0.04.
But you have to read the whole thing, so do so.

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