B.C. company ordered to pay $35K over posts shared by social media influencers
A B.C. lithium mining company that paid for promotional posts to be shared by social media influencers has been fined by the province's financial markets regulator.
The BC Securities Commission announced a combined $35,000 settlement, to be paid by Bearing Lithium Corp. and its CEO Jeremy Arthur William Poirier, in a release Friday.
In 2017, the settlement document says, Bearing hired a marketing company to prepare and distribute an "advertorial" online. It also contracted the company to create a series of posts on platforms like Linkedin, Twitter, and Facebook.
The advertorial was sent to newswires and websites and "was written in the style of a news article designed to look and read like objective journalistic content," according to the BCSC.
The "multiple promotional posts" on social media were shared by 19 influencers, the settlement agreement notes.
While this type of "investor relations" activity is not prohibited in and of itself, the Securities Act requires that companies disclose when "promotional materials are issued by them or on their behalf," the BCSC's statement says. Both the advertorial and the posts failed to make such a disclosure.
Bearing and Poirier admitted to the misconduct, reaching the settlement without the matter going to a hearing. The company will pay $25,000 and Poirier – who reviewed and approved the materials -- will pay $10,000.
CTVNews.ca Top Stories
A 'tragedy that can't be measured': North Bay's forever chemical problem is also the rest of Canada's
For decades, North Bay, Ontario's water supply has harboured chemicals associated with liver and developmental issues, cancer and complications with pregnancy. It's far from the only city with that problem.
opinion How to use your credit card as a powerful wealth-building tool
Irresponsibly using a credit card can land you in financial trouble, but personal finance columnist Christopher Liew says when used properly, it can be a powerful wealth-building tool that can help grow your credit profile and create new opportunities.
Spectacular aurora light show to be seen across Canada Friday night
A rare and severe solar storm is expected to bring spectacular displays of the northern lights, also known as aurora borealis, across much of Canada and parts of the United States on Friday night.
For moms-to-be, it's possible to take maternity leave without breaking the bank
Pregnancy is often an exciting and anxious time for parents-to-be. And while painting the nursery and choosing a stroller are typically on the agenda, experts say preparing financially for a maternity leave can help reduce stress later on as well.
Bouchard lifts Edmonton Oilers to 4-3 overtime win over Canucks in Game 2
Evan Bouchard scored 5:38 into overtime and the Edmonton Oilers bounced back for a 4-3 win over the Vancouver Canucks in the second round of the Stanley Cup playoffs on Friday.
Swarm of 20,000 bees gather around woman’s car west of Toronto
A swarm of roughly 20,000 bees gathered around a woman’s car in the parking lot of Burlington Centre.
Questlove was not happy with Drake and Kendrick Lamar's beef: 'Nobody won the war'
While some may have been excited and/or amused by the diss-track feud between Drake and Kendrick Lamar, the man many consider to be an elder statesman of hip-hop appears less than enthused about it.
Israel orders new evacuations in the southern Gaza city of Rafah as it prepares to expand operations
Israel ordered new evacuations in Gaza's southern city of Rafah on Saturday, forcing tens of thousands more people to move as it prepares to expand its operation and adding that it is also moving into an area in northern Gaza where Hamas has regrouped.
Which Canadian cities have the highest and lowest grocery prices?
Where you live plays a big factor in what you pay at the grocery store. And while it's no secret the same item may have a different price depending on the store, city or province, we wanted to see just how big the differences are, and why.