Contact:

Torres Las Americas, Punta Pacifica, 9th Floor
 Panama City, Panama

Telephone: 507 302-0000
Fax: 1-888-379-7304

 www.inovatrade.com (link no longer operational)

Background:

The National Securities Commission of the Republic of Panama (the CNV) issued a Warning on August 19, 2011, saying that that InovaTrade Inc. and InovaTrade Panama Inc. are not licenced by the CNV to carry out business as financial intermediaries of securities or investments.

On January 26, 2011, the U.S. Commodity Futures Trading Commission (the CFTC) filed a complaint permanent injunction, civil monetary penalty and other relief against InovaTrade Inc.

The British Columbia Securities Commission also has information that InovaTrade, Inc. has residents of British Columbia as clients.
 
InovaTrade Inc. and InovaTrade Panama Inc. are not registered in British Columbia to trade in, or advise on, securities and exchange contracts.

We urge British Columbia residents to exercise extreme caution when dealing with firms that are not registered to trade or advise in British Columbia.

Supporting Documents:

• CNV Warning: August 19, 2011 (link no longer operational)
• CFTC Complaint: January 26, 2011