The British Columbia Securities Commission (BCSC) is warning the public to exercise extreme caution about aggressive promotion of companies with products or initiatives to detect, cure or treat COVID-19.
The BCSC is aware that Revive Therapeutics Inc. a B.C. reporting issuer, is currently being promoted in North America and Europe. The pharmaceutical company is based in Ontario and listed on the Canadian Securities Exchange.
Germany’s Federal Financial Supervisory Authority has issued an investor alert about Revive, warning that buy recommendations are currently being made on a large scale in the form of market letters and e-mails. The promotions in Germany make aggressive claims about Revive’s potential success in treating COVID-19 and the prospects of investors receiving large profits.
The BCSC reminds investors to exercise caution when considering aggressive promotions as a basis for investment decisions as these promotions may make false claims of large profits. At this time, there is no vaccine or any health product that is authorized to treat or protect against COVID-19.
The BCSC 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.
More information about the BCSC’s response to the COVID-19 crisis is available on the BCSC’s website.
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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