The Securities Commission of The Bahamas issued a statement to investors in Pinnacle Franchise Brands, responding to media coverage that referenced a letter circulated by the Joint Official Liquidators of Mdollaz Ltd (trading as Arawak X). The Commission said that, insofar as the letter concerns Pinnacle, it is potentially misleading because it does not reflect investors’ rights with respect to Pinnacle or Pinnacle’s obligations as a public issuer. The Commission stated it is pursuing Pinnacle to ensure it complies with its obligations to investors as a public issuer under the Securities Industry Act 2024 and the Securities Industry (Business Capital) Rules 2021.
Bahamas Securities Commission 2025-11-04
Securities Commission of The Bahamas pursues Pinnacle Franchise Brands to ensure compliance with public issuer obligations to investors
The Securities Commission of The Bahamas addressed media reports concerning a letter from the Joint Official Liquidators of Mdollaz Ltd, stating it may mislead Pinnacle Franchise Brands investors regarding their rights and Pinnacle's obligations. The Commission is actively pursuing Pinnacle to ensure compliance with the Securities Industry Act 2024 and the Securities Industry (Business Capital) Rules 2021.