B.C. resident and Nevada company agree to pay $10,000 for breaching a cease trade order

VANCOUVER, Feb. 20, 2015 /CNW/ - In a settlement agreement with the British Columbia Securities Commission (BCSC), Protokinetix Inc. and Ross L. Senior have admitted to breaching a cease trade order (CTO).

The agreement states that on May 9, 2013, the Executive Director of the BCSC cease-traded the securities of Protokinetix Inc. for failure to make required filings under the Securities Act. Protokinetix is a Nevada-incorporated issuer with its principal executive offices in West Vancouver, B.C. Senior, a B.C. resident, was Protokinetix's President, Chief Executive Officer, and a director during the relevant period.

Between May 28, 2013 and June 6, 2014, and while subject to the CTO, Protokinetix and Senior distributed securities to 14 individuals and 2 companies for payment of services and repayment of loans valued at approximately $360,000, as well as an existing shareholder and current director for cash proceeds of $100,000. Senior acknowledges that he and Protokinetix made the distributions in contravention of the CTO.

For his misconduct, Senior is prohibited from becoming or acting as a director or officer of any reporting issuer other than Protokinetix for a period of one year, and Senior and Protokinetix have agreed to jointly pay $10,000 to the BCSC. Senior has also agreed to successfully complete a course on the duties and responsibilities of corporate officers and directors that is acceptable to the Executive Director within one year of the date of the settlement agreement.

The agreement notes that Senior and Protokinetix cooperated with the Executive Director in reaching the settlement agreement.

You may view the settlement agreement on our website www.bcsc.bc.ca by typing Ross L. Senior, Protokinetix Inc. or 2015 BCSECCOM 62 in the search box. Information regarding disciplinary proceedings can be found in the Enforcement section of the BCSC website.

Please visit the Canadian Securities Administrators' Disciplined Persons List for information relating to persons disciplined by provincial securities regulators, the Investment Industry Regulatory Organization of Canada (IIROC) and the Mutual Fund Dealers Association (MFDA).

About the British Columbia Securities Commission (www.bcsc.bc.ca)

The British Columbia Securities Commission is the independent provincial government agency responsible for regulating capital markets in British Columbia through the administration of the Securities Act. Our mission is to protect and promote the public interest by fostering:

• A securities market that is fair and warrants public confidence
• A dynamic and competitive securities industry that provides investment opportunities and access to capital

Learn how to protect yourself and become a more informed investor at www.investright.org

SOURCE British Columbia Securities Commission

Related Links

http://www.bcsc.bc.ca