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B.C. Securities Commission warns investors about companies peddling cures for COVID-19
VANCOUVER -- The British Columbia Securities Commission is warning the public about any company that is “aggressively promoting” products that promise to detect or treat COVID-19.
The warning comes after the BCSC has received reports that a company called Revive Therapeutics has been promoted to investors in Europe and North America.
“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,” said the BCSC in a press release.
“The promotions in Germany make aggressive claims about Revive’s potential success in treating COVID-19 and the prospects of investors receiving large profits.”
Revive Therapeutics is based in Ontario and listed on the Canadian Securities Exchange, but is a B.C. reporting issuer.
The BCSC is reminding investors that there is not yet a vaccine or any other health product authorized to treat or protect against COVID-19, a highly contagious virus that has created an unprecedented global pandemic.