News Release

Vancouver – A British Columbia Securities Commission panel has sanctioned Rodney John Snider for illegally distributing securities.

In October 2015, the panel found that Snider, a resident of Kelowna during the relevant period, assisted in the sale of promissory notes in Flag Resources (1985) Limited to four B.C. residents for proceeds of $21,000. Flag is an Alberta-incorporated mining company and reporting issuer in B.C. In 2005, the TSX Venture Exchange de-listed the company for failing to maintain exchange-listing requirements, and in 2006 the BCSC issued a cease trade order against Flag for failing to file financial records.

The panel determined that Snider referred the investors to Murdo Campbell McLeod (now deceased), a director of Flag. The sale of securities to these investors were illegal distributions.

In its sanctions decision, the panel wrote that Snider’s conduct did not comply with Securities Act requirements:

It is clear that the respondent was not diligent in determining whether the requirements of the exemptions were met with respect to any of the four investors with the result that those investors were denied the protections intended by the Act. The respondent’s conduct was either careless or reckless or both with respect to compliance with securities laws.

The panel ordered that Snider pay a fine of $7,500. The panel also ordered that Snider be prohibited from trading or purchasing securities, and from acting as a director or officer of any issuer for a period of four years. He is also prohibited, for the same period, from becoming or acting as a promoter or registrant, from engaging in investor relations activities, and from acting in a management or consultative capacity in connection with the securities market.

You may view the sanctions decision on our website www.bcsc.bc.ca by Rodney John Snider or 2016 BCSECCOM 13 in the search box. Information regarding disciplinary proceedings can be found in the Enforcement section of the BCSC website.

Please visit the Canadian Securities Administrators’ Disciplined Persons List for information relating to persons disciplined by provincial securities regulators, the Investment Industry Regulatory Organization of Canada (IIROC) and the Mutual Fund Dealers Association (MFDA).

About the British Columbia Securities Commission (www.bcsc.bc.ca)

The British Columbia Securities Commission is the independent provincial government agency responsible for regulating capital markets in British Columbia through the administration of the Securities Act. Our mission is to protect and promote the public interest by fostering:

• A securities market that is fair and warrants public confidence
• A dynamic and competitive securities industry that provides investment opportunities and access to capital

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Media Contact:
Richard Gilhooley, Media Relations
604-899-6713
mediarelations@bcsc.bc.ca

Public inquiries:
604-899-6854 or 1-800-373-6393 (toll free)
inquiries@bcsc.bc.ca

Learn how to protect yourself and become a more informed investor at www.investright.org