The Nova Scotia Securities Commission has approved a settlement agreement with Glooscap Wind Field Inc.

The Nova Scotia community economic development corporation violated Nova Scotia securities laws by failing to provide annual financial statements to its shareholders between 2010 and 2012.

“Providing regular and timely disclosure to shareholders is key to helping investors make informed investment decisions,” said Heidi Schedler, NSSC enforcement counsel. “Continuous and timely disclosure protects investors and encourages others to invest money in Nova Scotia companies.”

Glooscap Wind Field Inc. accepted responsibility for its conduct.

The commission approved the settlement agreement and ordered Glooscap Wind Field Inc to:
— comply with Nova Scotia securities laws
— pay an administrative penalty of $2,500
— pay $750 in costs for the commission’s investigation and proceeding

The Nova Scotia Securities Commission is the provincial government agency that regulates securities trading in the province. To view the order, visit http://nssc.novascotia.ca .

Source: Release