The president of North Bay, Ont., based Silver Bar Mines (COATS) and his wife are scheduled to appear in Provincial Court April 19 and 20, to face a series of fraud charges. Ronald and Shirley Gilson have been charged by the Ontario Provincial Police with attempting to defraud the public and fraudulently affecting the public market by allegedly issuing misleading statements about a Kirkland Lake, Ont., exploration property.
St Thomas, Ont., securities salesman Marcus Groenweg will also appear at the hearing to face identical charges.
The charges concern press releases regarding the company’s Lady Blue property located in Kirkland Lake’s Boston Creek region.
On Oct 1, the Ontario Securities Commission placed a cease trading order on the Silver Bar issue which had risen from 60 to $4.25 on the COAT system in less than two months. In an interview with The Northern Miner, Ronald Gilson said his claims are based on a geologist’s report.
Be the first to comment on "Gilsons charged with fraud over Silver Bar statements"