The British Columbia Securities Commission (BCSC) has issued a halt trade order on the securities of Vancouver-based Valorem Resources, after unsubstantiated claims were published online.
The BCSC indicated in its order, issued after the markets closed on Friday, that it had become aware of unsubstantiated information about Valorem posted by a third party in April. The information included claims at Valorem’s future share price and mining reserves for its Black Dog Lake gold property.
Valorem on April 16 issued a news release stating that the information disseminated by the third party was false.
The company on Friday reiterated that it had no involvement with the preparation or distribution of the information at any time, and that it had never had any communications with the third party responsible for publishing the information online.