Penn Capital Management, Ltd.
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Date:
2009-09-24
Contact:
1-4-27 Shiromi, Chuo-ku
540-8560, Osaka, Japan
www.penncm.com (link no longer operational)
Background:
In late September 2009, we learned that Penn Capital Management, Ltd. (Penn Capital) had contacted shareholders of York-Rio Resources Ltd. (York-Rio) and offered to repurchase their York-Rio shares at an inflated price. To complete the transaction, the shareholders were asked to pay an Equity Transfer Fee, in advance, and wire it to an offshore bank account.
Penn Capital is not registered in British Columbia to trade in, or advise on, securities or exchange contracts.
On September 24, 2009, the British Columbia Securities Commission and The Manitoba Securities Commission issued a joint Investor Alert about Penn Capital.
Penn Capital is also on the list of suspected cold callers published by Japan's Financial Services Authority.
