The Alberta Securities Commission (ASC) concluded a settlement with Colin Garfield Wagner over fraud and false and materially misleading statements made between October 2019 and February 2021 while he was chief financial officer of a reporting issuer formerly known as Target Capital Inc. Wagner admitted he transferred CAD 2,286,440 of Target’s cash, at the request of Target’s chief executive officer Shahin “Sonny” Mottahed, to support the operations of a related company, Performance CBD Brands Corp., without seeking independent confirmation from Target’s other directors, and without the transfers being disclosed to investors or the market as required under Alberta securities laws. He also admitted to making false and materially misleading statements about the transfers in Target’s continuous disclosure, including certifications of interim filings and certain company news releases. Under the settlement, Wagner paid CAD 100,000, agreed to resign from any director and or officer positions, and accepted 15-year prohibitions that include acting as a director or officer of any issuer, engaging in investor relations, trading or purchasing securities or derivatives (with limited exceptions), advising in securities or derivatives, relying on Alberta securities law exemptions, becoming or acting as a registrant, investment fund manager or promoter, and acting in a management or consultative capacity in connection with securities market activities. The remaining respondent, Mottahed, is scheduled to proceed to a hearing commencing September 22, 2025.

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