The British Columbia Securities Commission (BCSC) reached a settlement with Hypercharge Networks Corp., under which the B.C.-based public company paid CAD 35,000 for misconduct in investor relations activities and for violating continuous disclosure requirements. In 2023, Hypercharge used Gold Standard Media LLC and affiliated companies (the GSM group) to send 20 promotional email newsletters over two months, but the required disclosure that the emails were sent on Hypercharge’s behalf was not presented clearly and conspicuously. Separately, an investor presentation posted on Hypercharge’s website projected 200 per cent growth in total charging ports sold and 300 per cent growth in total revenue for the year without providing the material factors or assumptions underlying those projections; three months later, Hypercharge issued a news release retracting the projected growth figures. The BCSC noted Hypercharge’s cooperation with the investigation, and thanked the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) for its assistance with the case.
Financial Transactions and Reports Analysis Centre of Canada 2025-12-16
British Columbia Securities Commission settles with Hypercharge Networks for CAD 35,000 over promotional and continuous disclosure breaches
The British Columbia Securities Commission settled with Hypercharge Networks Corp., which paid CAD 35,000 for misconduct in investor relations and violating continuous disclosure requirements. Hypercharge failed to clearly disclose its use of Gold Standard Media LLC for promotional emails and retracted growth projections lacking material assumptions. The BCSC acknowledged Hypercharge's cooperation and FINTRAC's assistance in the investigation.