News Release
ASC alleges Roadman Investments Corp. and Luke Montaine breached Alberta securities laws in relation to COVID-19 claims
Aug 21, 2020
CALGARY – The Alberta Securities Commission (ASC) has issued a Notice of Hearing alleging that Roadman Investments Corp. (Roadman) and its CEO, Luke Montaine (Montaine) made misleading statements that would reasonably be expected to have a significant effect on the market price or value of Roadman’s securities. The alleged misleading statements were made in news releases issued by Roadman in February and March 2020, advising that Roadman and CLOV BioPharma Corp. (CBP) were involved in research and development in preventing the spread of coronaviruses, including COVID-19. CBP became a wholly owned subsidiary of Roadman within days of being incorporated in February 2020.
It is also alleged that Roadman and Montaine engaged in conduct contrary to the public interest by issuing the news releases in February and March 2020.
None of the allegations have been proven.
An appearance to set a date for a hearing will be held on Monday, September 28, 2020 at 9:00 a.m.
A copy of the Notice of Hearing can be found on the ASC website at www.albertasecurities.com.
The ASC is the regulatory agency responsible for administering the province's securities laws. It is entrusted with fostering a fair and efficient capital market in Alberta and with protecting investors. As a member of the Canadian Securities Administrators, the ASC works to improve, coordinate and harmonize the regulation of Canada's capital markets.
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For further information please contact:
For Media Inquiries:
For Investor Inquiries:
Theresa Schroder
Senior Advisor, Communications
media@asc.ca
ASC Public Inquiries
Toll Free: 1-877-355-4488
inquiries@asc.ca