Investor Alerts &Cautions Review: April – June

Submitted by nsscadmin on Wed, 06/24/2026 - 09:00

The principal mandate of the Nova Scotia Securities Commission (NSSC) is to protect Nova Scotia investors. One of the ways we do that is by issuing investor alerts and cautions. You can find all the alerts and cautions we’ve issued for the last nine years on our Investor Alert Database.

To create further awareness concerning the companies and people identified in Alerts and Cautions, our Before You Invest Blog regularly reviews the Alerts throughout the year.

This review looks back at all the Alerts and Cautions issued between December 2025 and March 2026. This month we’ve also included some alerts issued by external organizations that are relevant to Nova Scotia investors.

April 16 - Investor Alert: Ramp-and-dump scams surge as fraudulent “investment groups” target unsuspecting investors

The CSA warned Canadians about fraudulent investment groups being promoted on social media that could be running a stock price manipulation scam called a “ramp and dump.”

The Nova Scotia Securities also published a short video warning investors about Ramp and Dump scams.

May 11 - Investor Alert: Fraudsters impersonating IIROC employees in cryptocurrency scam

The CIRO warned Canadian investors about an ongoing cryptocurrency scam by individuals who are impersonating employees of the Investment Industry Regulatory Organization of Canada (IIROC), a predecessor of CIRO.

Investor Cautions issued by NSSC:

Investor Cautions are warnings to potential investors that the individuals or entities named do not appear to be registered to engage in the business of offering securities or derivatives in Nova Scotia or that the investment products do not appear to be offered in a manner permitted by Nova Scotia securities laws. Visit our Investor Cautions List for more information on the entities listed below.

Gelaxy Investment Group
PU Prime/ PU Prime (PTY) Ltd.
Braxons Group
Obsidian Strive
BlueQubit
buygoldotc
MNCTN Global
Northern Advisory
DrakeWhale

Failure to file annual financial statements.
Failure to file interim financial statements.
Failure to file an annual or interim management’s discussion and analysis (MD&A) or an annual or interim management report of fund performance (MRFP).
Failure to file an Annual Information Form (AIF).
Failure to file a certification of annual or interim filings required by Multilateral Instrument 52-109 Certification of Disclosure in Issuers’ Annual and Interim Filings (MI 52-109).
Failure to file required proxy materials or a required information circular.
Failure to file an issuer profile supplement on the System for Electronic Disclosure by Insiders (SEDI).
Failure to file a material change report.
Failure to provide a written update after filing a confidential report of a material change.
Failure to file a business acquisition report.
Failure to file annual oil and gas disclosure prescribed by National Instrument 51-101 Standards of Disclosure of Oil and Gas Activities (NI 51-101) or technical reports for a mineral project required under NI 43-101 Standards of Disclosure for Mineral Projects (NI 43-101).
Failure to file a mandatory news release.
Failure to file corporate governance disclosure as required by national Instrument 58-101 Disclosure of Corporate Governance Practices (NI 58-101).
Failure to file audit committee disclosure as required by Multilateral Instrument 52-110 Audit Committees (MI 52-110) or BC Instrument 52-509 Audit Committees.
Failure to include disclosure in an issuer’s MD&A relating to disclosure controls and procedures and their direct effectiveness that is referred to in a certificate filed under MI 52-109.
Financial statements of the reporting issuer, or the auditors’ report accompanying the financial statements, do not comply with the requirements of NI 51-102 Continuous Disclosure Obligations (NI 51-102), National Instrument 81-106 Investment Fund Continuous Disclosure (NI 81-106) or National Instrument 52-107 Acceptable Accounting Principles, Auditing Standards and Reporting Currency (NI 52-107).
The reporting issuer has acknowledged that its financial statements, or the auditors’ report accompanying the financial statements, may no longer be relied upon.
The reporting issuer’s AIF, MD&A, MRFP, information circular, or business acquisition reports do not contain information for each of the content items required by NI 51-102 or NI 81-106.
The reporting issuer’s technical disclosure or other reports do not comply with the disclosure requirements of NI 43-101 or 51-101.
Failure to pay a fee required by the Act or the regulations.
Failure to comply with any other requirement related to continuous disclosure.