News Release

Vancouver – In a settlement agreement with the British Columbia Securities Commission (BCSC), Kamaljeet Kaur Sumal has admitted that she made false statements to a BCSC investigator during a compelled interview.

Sumal, a resident of Vancouver, B.C., was interviewed under oath by an investigator appointed under the Securities Act. The agreement states that Sumal made a misleading statement about the last time she had spoken to two directors of a company that BCSC staff were investigating. Phone records indicate that Sumal spoke to both directors during the lunch break of her interview but she claimed otherwise in her interview.

Sumal acknowledges that her actions were contrary to the public interest. She has paid $5,000 to the BCSC, and has agreed to be prohibited from becoming or acting as a director or officer of any issuer or registrant until the later of one year from the date of this agreement and the date on which Sumal successfully completes a course on the responsibilities of officers and directors to the satisfaction of the Executive Director.

You may view the settlement agreement on our website www.bcsc.bc.ca by typing Kamaljeet Kaur Sumal or 2016 BCSECCOM 106 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 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

Media Contact:
Richard Gilhooley, Media Relations
604-899-6713

Public inquiries:
604-899-6854 or 1-800-373-6393 (toll free)

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