Ontario Securities Commission charges Burlington man with Securities Act Offences
Published July 9, 2021 at 8:13 pm
A Burlington man has been charged by the Ontario Securities Commission (OSC) quasi-criminally with one count of fraud.
The charge is in relation to Grant-Ferdinand Sanders’ role as the Chairman and Chief Executive Officer of Instadose Pharma (formerly the Excellence Health Group).
Since July 2017, Instadose, which purports to be a licensed certified grower and cultivator of medicinal cannabis, has raised more than $9.4 million from investors.
The OSC alleges that investor funds were diverted to the benefit of Sanders, his family, and associates. The OSC further alleges that Instadose materially misrepresented the nature of the company’s business.
Any investors who were solicited by Mr. Sanders or who invested with Instadose should contact the OSC’s Contact Centre at 1-877-785-1555 (Toll Free) or [email protected].
Sanders is scheduled to appear in court regarding the charge on Monday, Aug. 16 at 9 a.m. in Courtroom No. 104 at A. Grenville and William Davis Courthouse, 7755 Hurontario Street, Brampton.
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Charges laid under the Securities Act (quasi-criminal) are prosecuted by the OSC. Charges laid under the Criminal Code are prosecuted by the Ministry of the Attorney General.
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