Reviews and recommendations are unbiased and products are independently selected. Postmedia may earn an affiliate commission from purchases made through links on this page.
A Kelowna investment portfolio manager had inadequate compliance systems, record-keeping, and financial reporting, an investigation has found.
Kilburn Ogilvie Waymann Investment Management Ltd. has paid $55,700 to the B.C. Securities Commission in a settlement agreement for not managing business-associated risks and not providing reasonable assurance that it complied with securities legislation.
“Despite the deficiencies, there is no evidence that any clients were harmed,” the BCSC stated in Monday release.
As part of the firm’s settlement agreement with the BCSC, it must retain an independent compliance consultant for two years.
During a 2019 field investigation, BCSC staff found various problems with Kilburn Ogilvie Waymann Investment Management Ltd. These included:
– making unsubstantiated marketing claims
– not maintaining records capable of generating certain account activity reports
– inaccurately calculating its excess working capital
– producing deficient audited financial statements
The company’s chief compliance officer also failed to adequately perform his duties, the BCSC says.
The company’s website shows two employees, Trevor Kilburn, based in Kelowna, and John Waymann, based in Toronto. Between them, they have more than 75 years of combined investing experience, the website says.
Lumina Gold Announces Signing of an Exploration Investment Protection Agreement – Yahoo Canada Finance
VANCOUVER, BC, Dec. 6, 2021 /CNW/ – Lumina Gold Corp. (TSXV: LUM) (OTCQX: LMGDF) (the “Company” or “Lumina”) is pleased to announce the signing of an Exploration Investment Protection Agreement (“EIPA”) for the Cangrejos project (the “Project”). This groundbreaking agreement between the Government of Ecuador and Lumina Gold provides a foundation that the parties can build on as the Project advances towards development and a future negotiation of the Exploitation Agreement and Exploitation Investment Protection Agreement required for mining. This negotiation would occur after the completion of a Pre-Feasibility study for the Project.
The EIPA explicitly covers an investment commitment by Lumina totaling a minimum of US$36M for the period 2019-2024 and also covers investments by the Company in Ecuador from December 2010 to the end of 2018. The agreement also extends to any additional investments made by Lumina during the term and beyond. The Company has invested approximately US$18M from January 1, 2019 to September 30, 2021 in Ecuador and just completed a financing to continue work on drilling and engineering in order to complete a Pre-feasibility study by early 2023.
Image 1: Marshall Koval and Guillermo Lasso, President of Ecuador and key foreign investment ministers at the Ecuador Open For Business conference.
Image 2: Marshall Koval and Guillermo Lasso, President of Ecuador at the Open For Business conference.
Under the terms of the EIPA, the Government of Ecuador pledges to maintain legal certainty and stability for the investment, as well as to provide non-discriminatory treatment compared to other similar projects with regards to the administration, operation, expansion, and transfer of the Company’s investments. In addition, the Government commits that it will not subject the Company and its investments to arbitrary or discriminatory measures. The guarantee also extends to property rights, which bars any confiscation or other termination of rights without fair compensation, and also forbids restrictions on the legal transfer of the investment (e.g., the project or local holding companies) by the Company or its shareholders. The agreement also contains detailed procedures for dispute resolution, with arbitration in London pursuant to the rules of the International Chamber of Commerce.
The process of entering into this EIPA was greatly accelerated under the leadership of Guillermo Lasso´s administration, particularly following the issuance of Decree 151, which defined the national Mining Action Plan. It involved direct negotiations with the Ministry of Production, Foreign Commerce, Investments and Fishing. In addition, approvals were obtained from the Strategic Committee for Promotion and Attraction of Investments, as well as the Ministry of Energy and Non-Renewable Natural Resources, the Ministry of Economy and Finance, and, lastly the State Attorney General in relation to the approval of the international arbitration clause.
About Lumina Gold
Lumina Gold Corp. (TSXV: LUM) is a Vancouver, Canada based precious and base metals exploration and development company focused on the Cangrejos Gold-Copper Project located in El Oro Province, southwest Ecuador. Lumina has an experienced management team with a successful track record of advancing and monetizing exploration projects.
Further details are available on the Company’s website at https://luminagold.com/
Please click here and subscribe to receive future news releases: https://luminagold.com/contact
LUMINA GOLD CORP.
Signed: “Marshall Koval”
Marshall Koval, President & CEO, Director
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 news release.
Cautionary Note Regarding Forward-Looking Information
Certain statements and information herein, including all statements that are not historical facts, contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. Such forward-looking statements or information include but are not limited to statements or information with respect to completing an Exploitation Agreement, Exploitation Investment Protection Agreement and a Pre-feasibility study. Often, but not always, forward-looking statements or information can be identified by the use of words such as “will” or “projected” or variations of those words or statements that certain actions, events or results “will”, “could”, “are proposed to”, “are planned to”, “are expected to” or “are anticipated to” be taken, occur or be achieved.
With respect to forward-looking statements and information contained herein, the Company has made numerous assumptions including among other things, assumptions about general business and economic conditions, the prices of gold and copper, and anticipated costs and expenditures. The foregoing list of assumptions is not exhaustive.
Although management of the Company believes that the assumptions made and the expectations represented by such statements or information are reasonable, there can be no assurance that a forward-looking statement or information herein will prove to be accurate. Forward-looking statements and information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause the Company’s actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. These factors include, but are not limited to: risks associated with the business of the Company; business and economic conditions in the mining industry generally; the supply and demand for labour and other project inputs; changes in commodity prices; changes in interest and currency exchange rates; risks relating to inaccurate geological and engineering assumptions (including with respect to the tonnage, grade and recoverability of reserves and resources); risks relating to unanticipated operational difficulties (including failure of equipment or processes to operate in accordance with specifications or expectations, cost escalation, unavailability of materials and equipment, government action or delays in the receipt of government approvals, industrial disturbances or other job action, and unanticipated events related to health, safety and environmental matters); risks relating to adverse weather conditions; political risk and social unrest; changes in general economic conditions or conditions in the financial markets; and other risk factors as detailed from time to time in the Company’s continuous disclosure documents filed with Canadian securities administrators. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
View original content to download multimedia:https://www.prnewswire.com/news-releases/lumina-gold-announces-signing-of-an-exploration-investment-protection-agreement-301437706.html
SOURCE Lumina Gold Corp.
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/December2021/06/c1772.html
Maria Sharapova takes equity stake in investment platform Public.com – CNBC
Former top-ranked tennis star Maria Sharapova is looking to make financial literacy more accessible. The tennis champion and entrepreneur announced Monday that she has taken an equity stake in Public.com, a company that lets you buy and sell stocks and cryptocurrencies online. Sharapova did not disclose the size of her stake.
“Since I was a very young girl, as a teenager, I made my first big paycheck by winning Wimbledon and to be honest, the financial investment space is one that’s very intimidating,” Sharapova told CNBC. “I appreciate how Public is more user-friendly, and offers a simplified way to educate yourself to make investing less intimidating.”
Sharapova knows a thing or two about making money. For 11 straight years she held the title of highest-paid female athlete, according to Forbes.
She says in addition to her financial stake in Public, she will host events, share advice and serve as an advisor for NCAA student-athletes on the platform.
Public was founded in September 2019 by Jannick Malling, who now serves as co-CEO. Today, the platform that allows users to build portfolios and invest in stocks and cryptocurrency has more than 1 million users, 90% of which are first-time investors. The company says its user base grew 13 times in 2020.
Public has raised $310 million in funding, with investment from Accel, Greycroft and Lake Star. Other big-name investors include actor Will Smith, NFL player JJ Watt, media mogul Shari Redstone, businessman Dick Parsons and skateboarding legend Tony Hawk.
“One of the most important reasons of my investment into Public is the incredible stat that 40% of the audience on the Public app is female, which in this space, is almost unheard of,” said Sharapova. In addition to attracting women, 45% of Public’s users are Black or people of color.
For Sharapova, her unique upbringing as a professional tennis player gave her a front-line seat to the business world. The young tennis player came to the United States from Russia as a 7 year old with just $700 in her pocket. Her career quickly took off, and she become the top tennis player in the world on five separate occasions. During that time, she gained high-profile endorsement deals with companies from Nike to Pepsi to Porsche.
In 2012, Sharapova launched her own company, Sugarpova, a successful candy and sweets brand. The company now reportedly earns more than $20 million per year. Sharapova has also invested companies in the health and wellness space such as Tonal, Therabody and SuperGoop. Despite her success, she’s always trying to learn more.
“I try to grab as much education from meetings, sitting in boardrooms, to looking at my own contracts, and not having too many external people doing it for me,” she said.
Sharapova retired from the professional tennis circuit in 2020, following nagging injuries and a failed doping test that sidelined her for 15 months.
While Sharapova made her name on the tennis courts playing for nearly two decades and earning five Grand Slam titles, she’s optimistic about what lies ahead.
“The first chapter was incredible and I got to experience so much in my youth but there’s something about this next chapter that gets me just as excited,” she said.
The former tennis ace says she spends much of her day focusing on her many business ventures, however she says she has kept a close eye on the Peng Shuai situation in China. On Nov. 2, Chinese tennis player Shuai alleged sexual assault by a top Chinese government official. Women’s Tennis Association chief Steve Simon made the decision on Dec. 1 to suspend all tour events in China because he says that Shuai’s allegations have not been listened to or taken seriously. This decision will cost the WTA hundreds of millions of dollars in lost revenue. The Chinese government responded to the WTA’s decision by accusing it of “putting on an exaggerated show.”
“I’ve actually been incredibly impressed by how the the WTA has stood up and took a stance. Steve Simon doing the right thing has been wonderful,” she added.
Sharapova says she hopes and prays that her former colleague and rival and her family are safe.
“I think of people before I think of business, I think of the human element and that’s why I’m in complete support of the tour,” she said.
Correction: Steve Simon is chief of the Women’s Tennis Association. An earlier version misstated the name of the organization.
Continued education is an investment, and it leads to greater wealth – Financial Post
This article was created by StackCommerce. Postmedia may earn an affiliate commission from purchases made through our links on this page.
There are some standards that will help you no matter what line of work you’re in. For those who don’t want to fall into a pattern of repetition, who want to avoid feeling stagnant, the only thing you need to do is push yourself to consistently evolve and grow. How does somebody do that? It’s simple. You try .
Feed your mind, so it can operate
One of the most obvious ways to try and grow consistently is to learn. You can learn about just anything and it can benefit your life, your career and your business. Part of the reason why this is true is that feeding your mind new information on a regular basis is actually healthy for it. In this piece from Inc ., they cite a CCSU article saying that “Practicing a new skill increases the density of your myelin or the white matter in your brain that helps improve performance on a number of tasks.”
You can also learn more about your industry
While taking up a new hobby, or learning a new language can be hugely beneficial to your networking and mind-building, you can also devote time to studying your industry. If you’re in tech, there are endless online courses on coding, AI, blockchain, and so much more. If you’re in business, you can study investing, dropshipping, and a lot more.
Digital gifts like e-learning courses can help you skip holiday shipping delays
As international travel opens up, travelers can rediscover one of the great inspirations for learning a new language
Learning new skills can help both your brain and career
Where to find the information
You can scour the web and parse together what you need, or you can keep things simple. For $192, you can get the Unlimited Lifetime Learning Subscription Bundle , which features a lifetime subscription to Rosetta Stone, the iconic language-learning app that’s been trusted by NASA, Calvin Klein, TripAdvisor, and countless learners over the last three decades. It also features a StackSkills Unlimited Online Courses: Lifetime access subscription to over 1,000 premium online courses.
Prices subject to change.
Canada’s ambassador to China to leave post after helping free detainees
Tennis-Canada’s Andreescu to sit out Australian Open
Republican Devin Nunes leaving U.S. Congress to head Trump’s new media company – Globalnews.ca
Silver investment demand jumped 12% in 2019
Europe kicks off vaccination programs | All media content | DW | 27.12.2020 – Deutsche Welle
Iran anticipates renewed protests amid social media shutdown
Sports23 hours ago
Canucks hire Bruce Boudreau as head coach to replace Travis Green – Sportsnet.ca
Media23 hours ago
Tearful reunions, music comebacks and pop freedom: 2021 showbiz stories
News23 hours ago
U.S. condemns militant attack in Mali that killed 31
Health22 hours ago
WECHU issues additional COVID-19 measures | CTV News – CTV News Windsor
News23 hours ago
Travel survey finds Canadians looking forward to 2022 trips – CTV News
Sports18 hours ago
REPORT: Jim Benning and Travis Green out, Bruce Boudreau in as Canucks head coach – Vancouver Is Awesome
Health23 hours ago
INQUINTE.CA | Health unit warns of COVID exposure at Signal – inquinte.ca
Business11 hours ago
COVID-19 antiviral drug molnupiravir to be manufactured in Canada – CTV News