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Cease Trade Order Issued Against Goldpoint Resources Corporation

Cease Trade Order.

A permanent cease-trade order has been issued by the Financial and Consumer Services Commission against Goldpoint Resources Corporation, Lino Novielli, Brian Moloney, and Zaida Pimentel, all of Ontario.

Goldpoint Resources Corporation and the named individuals solicited New Brunswickers to invest in a fraudulent investment scheme.

The order bans the company and the individuals from operating in New Brunswick capital markets; orders the individuals to resign any position they hold as director or officer of any issuer; and states that any exemptions to New Brunswick securities law do not apply to them.

The order recognizes an order issued by the Ontario Securities Commission on 1 February 2013 and follows a temporary one issued by the New Brunswick Securities Commission in 2008.

Hearing from New Brunswickers about suspicious financial and investment activity early is integral to combatting fraud and the harm it can do. Please contact the Commission at 1 866 933-2222 (toll-free) to get further information, to make a complaint or to express other related concerns.

The Financial and Consumer Services Commission provides protection to consumers and investors from unfair, improper or fraudulent practices. The Provincial government established the Commission on 1 July 2013.

The Financial and Consumer Services Commission brings together regulatory authorities for securities, insurance, pensions, consumer affairs, co-operatives, credit unions, caisses populaires, and loan and trust companies. It is an arm’s-length Crown Corporation self-funded by the fees and assessments paid by the regulated sectors.