News Release

Vancouver -- A financial adviser who failed to exercise due diligence on his clients’ behalf before selling them shares in a company touting tire cleaner has agreed to a seven-year market ban and to pay $15,000 to the BC Securities Commission in a negotiated settlement.

Brian Paul Kuhn admitted that between February and July 1999 he sold 31 of his clients about $175,000 worth of shares in a company doing business as North American Marketing Ltd. and North American Enterprises Ltd. The investment firm that employed Kuhn did not authorize Kuhn’s trading in securities of North American.

Kuhn agreed he did not exercise due diligence by checking the accuracy and truth of the information North American gave him to distribute to his clients. He also agreed he did not put $14,000 investors gave him into a trust account as required by securities law.

In its promotional documents, North American said it had an exclusive agreement with Tire-Glo Ltd. to manufacture and market the tire cleaner and projected it would sell two million bottles of Tire Glo or Tire Tux in 2001. North American offered 750,000 company shares to investors at 35 cents a share. The company also said it would go public by Aug. 31, 1999, either on the former Alberta Stock Exchange or the Over The Counter Bulletin Board. The company’s representations were false.

Under the negotiated settlement, Kuhn is barred from the securities markets for seven years or until he returns $14,000 to four of his investors, whichever event comes later.

The B.C. Securities Commission is the independent provincial government agency responsible for regulating trading in securities and exchange contracts within the province. Copies of the settlement can be obtained on the commission’s website at www.bcsc.bc.ca or by contacting Michael Bernard at 604-899-6524.