Investor Alert: High-pressure Phone Calls

The British Columbia Securities Commission (BCSC) is warning the public to exercise extreme caution about unsolicited phone calls promoting an investment in a B.C.-based technology company.

The BCSC has recently learned that several vulnerable seniors in B.C. have been targeted by someone using high-pressure sales tactics, including daily phone calls, to encourage them to buy shares in CannaOne Technologies Inc. The caller, whose number appears on caller identification as coming from a 646 area code (New York), instructs people to buy a certain number of shares at a certain price, and tells them not to sell until they receive a follow-up phone call.

The BCSC is currently working with CannaOne to determine who is responsible for the telephone calls. The calls, which appear to have been made to people in other parts of Canada as well, took place between January and March.

The BCSC urges anyone who has received an unsolicited phone call about purchasing CannaOne or any other investment to contact the BCSC Inquiries Staff at 604-899-6854 or 1-800-373-6393.

The BCSC also encourages anyone who is considering buying or selling an investment to do research or talk to their registered investment advisor to ensure it is an appropriate decision.

The BCSC takes a proactive approach to help protect B.C. investors by publishing an Investment Caution List, which identifies unregistered activity and unqualified securities promoted in British Columbia. The BCSC relies on information from the public and other agencies to identify new entries to the list.

Report a Concern

If you have any concerns about a person or company offering an investment opportunity, please contact BCSC Inquiries at 604-899-6854 or 1-800-373-6393 or through e-mail at [email protected] You can also file a complaint or submit a tip anonymously using the BCSC’s online complaint form.

InvestRight.org is the British Columbia Securities Commission’s investor education website. Subscribe to receive email updates from BCSC InvestRight.

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