Toronto, Ontario--(Newsfile Corp. - June 10, 2015) - Added Capital Inc. (TSXV: AAD) today announced that the Ontario Divisional Court (the "Court") has dismissed the appeal by its subsidiary, Northern Securities Inc. ('NSI") and its President and CEO, Vic Alboini of the merit and sanction decisions of the Ontario Securities Commission.
The fine payable by NSI is $50,000 plus costs of $10,000. The fine payable by Mr. Alboini, plus disgorgement of commissions and costs totals $557,485. Mr. Alboini is also subject to a suspension of one year in all registration capacities and for two years as an Ultimate Designated person. These sanctions will become effective, unless changed, upon disposition of the court proceedings. NSI and Mr. Alboini may seek leave to appeal the Divisional Court decision to the Ontario Court of Appeal.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
About Added Capital Inc.
Added Capital Inc. is a financial advisory firm and merchant bank, with a specialization in mergers and acquisitions, merchant banking investments, risk arbitrage merger and acquisition investments, financial restructurings, proxy solicitation and information agent services.
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