The British Columbia Securities Commission is warning the public about Pegasus Pharmaceuticals Group Inc. (Pegasus) and its associated companies:
• Careseng Cancer Institute Inc. • Pegasus BioPark (Dalian) Co., Ltd.
Pegasus has been offering Pegasus bonds and debentures through its website (http://pegasusbonds.com) and sales agents. According to the company’s website, Pegasus is using the funds raised for cancer therapy clinics, new drug development and to upgrade manufacturing facilities.
The BCSC is concerned that Pegasus is offering these investments when it has not issued a prospectus or registered with the BCSC. Furthermore, BCSC staff have concerns about the returns offered on the Pegasus investments, which are as high as 100% per annum.
The BCSC urges the public to be wary about investing in Pegasus or its associated companies.
The BCSC urges investors, agents, or members of the public who have been approached or have information about Pegasus Pharmaceuticals or any of its associated companies to contact the BCSC inquiries line at 604-899-6854 or 1-800-373-6393 (toll free).
I have been blogging about this Cyprus-based company for some time. On February 12, we issued a temporary order against Genius Funds alleging that it had breached various securities laws. Last week, the Alberta Securities Commission issued an interim cease trade order against the company alleging that they have engaged in illegal trading and distribution of funds. This morning […]