Tietz et al v BridgeMark Financial Corp et al

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On July 2, 2024, the B.C. Supreme Court (the “Court”) certified a class action in Tietz & Loewen v. BridgeMark Financial Corp. et al, S.C.B.C. No. S 197731 (the “Action”).  The Action was commenced in 2019.  It arises from private placements in securities carried out between February 2018 and August 2018 in the 10 public companies (the “Issuers”) listed below.  The private placements are alleged to be part of a fraudulent investment scheme in which the Issuers entered into consulting agreements with the subscribers to the private placements and their designated associates (referred to in the Action as “Purported Consultants”) as a condition to the subscribers’ participation in the private placements, pursuant to which the Purported Consultants were paid lump sum consulting fees from the subscription proceeds which effectively reduced the price paid for the shares.  The Action is brought on behalf of persons who purchased shares in the Issuers within the dates listed below:

 

Kootenay Zinc Corp. (“Kootenay”) - 30/01/2018 to 26/11/2018

CSE: PKB; OTC: PKBF; FRA: KYH; CUSIP: 07470L; ISIN: CA70470T2092

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Affinor Growers Inc. (“Affinor”) - 05/03/2018 to 26/11/2018

CSE: AFI; OTC: RSSFF; FRA: 1AFO CUSIP: 00830Q306; ISIN: CA00830Q3061

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Green 2 Blue Energy Corp. (“Green Corp.”) - 12/04/2018 to 26/11/2018

CSE: GTOO; OTC: GTGED; FRA: B40 CUSIP: 40054T; ISIN: CA40054T1075

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Beleave Inc. (“Beleave”) - 24/04/2018 to 26/11/2018

CSE: BE (delisted); OTC: BLEVF; CUSIP: 077561108; ISIN: CA 0775611084

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Marapharm Ventures Inc. (“Marapharm”) - 17/05/2018 to 26/11/2018

CSE: FIOR (delisted); OTC: FIORF; CUSIP: 31811L107; ISIN: CA31811L1076

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Cryptobloc Technologies Corp. (“Cryptobloc”) - 18/05/2018 to 26/11/2018

CSE: KAS; OTC: CRYBF; FRA: EVB CUSIP: 26806J109; ISIN: CA26806J1093

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BLOK Technologies Inc. (“BLOK”) - 01/06/2018 to 26/11/2018

CSE: BLK (delisted); OTC: BLPFF; FRA: 2AD CUSIP: 09370Q105; ISIN: CA09370Q1054

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PreveCeutical Medical Inc. (“PreveCeutical”) - 09/04/2018 to 26/11/2018

CSE: PREV; OTC: PRVCF; FRA: 18H CUSIP: 74141E104; ISIN: CA74141E1043

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Speakeasy Cannabis Club Ltd. (“Speakeasy”) - 29/06/2018 to 26/11/2018

CSE: EASY (delisted); FRA: 39H CUSIP: 84730M102; ISIN: CA84730M1023

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New Point Exploration Corp. (“New Point”) - 25/07/2018 to 26/11/2018

CSE: BFG; OTC: BFGFF; FRA: YW5 CUSIP: 37452L108; ISIN: CA37452L1085

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Further information about the claims made in the Action and the parties to it, and the certification of the Action and how to participate in it, is set out in the Certification Notice approved by the Court on October 15, 2025, which can be accessed through the “Certification ” link on the left.  Further details about the Action are set out in the Reasons for Judgment of the Honourable Madam Justice Wilkinson, pronounced July 2, 2024, supporting the Court's Order certifying the Action as a class proceeding.  Those Reasons and the Court's Order can also be accessed through the “Certification” link on the left.

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The Certification Order was appealed by one group of Defendants, and the Plaintiffs appealed the Court's exclusion from the class of persons who bought and sold all of their shares within the dates listed above.  The appeal was heard in January 2025, and the judgment of the Court of Appeal is currently under reserve.  Once judgment on the appeal is pronounced, the Reasons for Judgment will be posted on this website.

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Before the Action was certified, the Plaintiffs applied for and were granted leave by the Court to bring claims for secondary market misrepresentation under s. 140.3 of the Securities Act, RSBC 1996, c. 48, against several of the defendant Issuers and certain of their officers and directors named as defendants in the Acton.  The Court of Appeal affirmed the granting of leave for which the Plaintiffs had applied.  The Court's decision and the Court of Appeal decision can be accessed through the “Certification” link on the left.

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As set out in the Certification Notice, the Court has previously approved settlements totaling CAD $4.44 million with the four Issuer defendants (Beleave, Affinor, PreveCeutical, and Kootenay) and the process for distributing the amounts paid under these settlements.  Further details about these settlements are available in the settlement documents, which can be accessed through the various Issuer Settlement links on the left. The deadlines for making claims under these settlements have expired.

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As also set out in the Certification Notice, the Court has also approved several settlements with some of the Purported Consultants (the “Consultant Settlements”).  On October 15, 2025, the Court approved the Settlement Administration Plan for the amounts under these settlements, which total CAD $3,880,500.  Details on how to make a claim under these Consultant Settlements, which must be made by February 12, 2026, are available at www.bridgemarkconsultantsclaims.com and are set out in the Consultant Settlements Administration Plan, accessible through the "Consultant Settlements" link to the left.

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