Tuesday, December 4, 2018

Micheal McPhie - BridgeMark Venture Scam


On November 26 the BCSC prohibited a group of purported consultants from buying or selling the securities of 11 companies listed on the Canadian Securities Exchange (CSE), alleging that they participated in a scheme that is abusive to the capital markets. The so called "Bridgemark Group" is now blocked from all CSE-listed companies from using the consultant exemption to sell shares without a prospectus to the group of 25 people and 26 firms, most of whom are in B.C.’s Lower Mainland. $17.9 million worth of shares sold to members of the BridgeMark Group, returned $15.3 million to members of the group.

The latest to emerge is a list of Venture companies who dealt with Bridgemark. Among them is Prize Mining PRZ.v, led by Micheal McPhie. $5.5m of a recent $6.5m in financing was returned to the Bridgemark Group. "Of the funds raised, $5.5 million will be directed towards activities 1 and 2 listed above."

McPhie had the ballulars to call a swack of dead free dilution (SRUs) 'just paper.' McPhie also had the manstones to claim the free paper needed to be 'earned' even though 400k vested immediately.
mmcphie@prizemining.com

ajackson@jacksoncompany.ca
The Executive Director alleges that the securities sales to BridgeMark were illegal because they improperly used the consultant exemption to avoid filing a prospectus, a formal document that provides details of an investment.

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