The British Columbia Securities Commission has ordered Multi-Metal Development Ltd. to pay CAD 15,000 after finding that the B.C.-based public mining company made false or misleading statements in a 2019 technical report. The panel found that the report used the electronic signature and name of a qualified person, a professional engineer whose consent and certification are required for mineral project disclosure, even though he did not sign the report or consent to the use of his name. It also found that certain forward-looking statements about the feasibility of producing tungsten lacked a reasonable basis because they were attributed to the qualified person without his certification. The panel concluded that Multi-Metal breached the Securities Act provision against false or misleading statements in filed documents and also contravened mineral project disclosure requirements for public companies. Trading in Multi-Metal is prohibited until the penalty is paid, in addition to an existing cease trade order for failure to file required documents. In setting sanctions, the panel found no evidence of direct investor harm, enrichment or prior securities misconduct by the company. Separate proceedings against former president, chief executive and director Shaun Methven Dykes were discontinued after his death in December 2025.

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