Following a merits decision finding that the respondents breached a cease trade order by issuing approximately US$7.4 million in convertible debentures, the Commission held a sanctions and costs hearing. The Commission ordered permanent market bans against the individual respondents, finding their conduct egregious and demonstrating a serious risk to the public. The Commission ordered disgorgement of the funds obtained from new debentures, but excluded the value of rolled debentures as no new funds were obtained. Administrative penalties totaling $600,000 and costs totaling $100,000 were also ordered against the individual respondents.
Ontario Securities Commission Commission des valeurs mobilières de l’Ontario 22nd Floor 20 Queen Street West Toronto ON M5H 3S8 22e étage 20, rue Queen Ouest Toronto ON M5H 3S8
Citation: MOAG Copper Gold Resources Inc (Re), 2020 ONSEC 29 Date: 2020-12-14 File No.: 2018-41
IN THE MATTER OF MOAG COPPER GOLD RESOURCES INC., GARY BROWN and BRADLEY JONES
(Subsection 127(1) and [section 127.1](https://www.canlii.org/