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TORONTO, Jan. 17, 2019 /CNW/ – Beleave Inc. (CSE: BE) (OTCQX: BLEVF) (“Beleave” or the “Company“) is pleased to provide an update on its participation and cooperation regarding the ongoing investigation by the British Colombia Securities Commission (“BCSC“).
As previously announced, Beleave was named as a respondent in a temporary order dated November 26, 2018 (the “Temporary Order“) issued by the Executive Director of the BCSC in connection with distributions to certain individuals connected to the “BridgeMark Group”. The respondents named in the Temporary Order (the “Respondents“) were restricted from purchasing and distributing securities in reliance on the consultant exemption to distribute securities without a prospectus (the “Consultant Exemption“). The Executive Director of the BCSC sought an extension of the Temporary Order (the “Extension Request“) pending the conclusion of the BCSC’s investigation into the Respondents’ reliance on the Consultant Exemption. On December 7, 2018, the BCSC held a hearing to consider the Extension Request and, on January 15, 2019, the BCSC issued a decision approving the Extension Request in the case of certain of the Respondents. As a result of the decision, Beleave is no longer subject to the Temporary Order or the terms of the Extension Request.
The BCSC’s investigation is ongoing. Beleave will continue to cooperate with the BCSC in its investigation.
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