A B.C. man accused of insider trading has been fined $19,177 by the BC Securities Commission.
According the BCSC, David Charles Greenway bought 68,500 shares of Global Uranium Corp. (TSX-V: GU) knowing that the company had acquired mining claims in Arizona (known as the Anderson Property) before the information was made public.
Global Uranium Corp. officially changed its name to Global Met Coal Corp. (TSX-V:GMZ) in October 2011.
“Greenway admitted that he was a person in a special relationship with Global during the acquisition period and that his purchase contravened the prohibition against illegal insider trading,” a BCSC press release stated.
The BCSC banned Greenway from trading or buying any securities or exchange contracts of any company with which he is in a special relationship for one year.
But because he had already been under a seven-month prohibition in relation to another undertaking he made on the TSX venture exchange, the BCSC set the prohibition to end July 22, 2012. He was also ordered to pay an administrative penalty of $19,177.
Global Met Coal is a Vancouver junior miner focused on acquiring advanced stage properties, especially metallurgical coal projects. The company’s stock was down 11% to $0.12 per share at close of trading Monday.
