Cedar tree drugs for China
The Securities and Exchange Commission (“SEC“) issued an order to temporarily suspend the trading of the shares of another pubco with ties to Canada – this time is was Vancouver-based Roadman Investments Corp. (“Roadman“).
Roadman made statements to the investing public suggesting oil from cedar leaves may be effective to treat Covid-19. There is no known cure for Covid-19.
The shares were suspended over concerns in respect of the accuracy of the disclosure information of Roadman.
Among other things, Roadman filed on SEDAR, a license agreement to acquire a licence for certain intellectual property connected to oil from cedar tree leaves (cedar leaf oil), which the agreement states, in its exhibit, may be effective against the corona virus.
In a press release here, which relies on medical research from an alleged expert paid by Roadman Investments who works at the University of British Columbia, its headline states that its cedar leaf oil helps with Covid-19.
Roadman earlier announced a deal to sell cedar leaf oil to consumers in Asia on WeChat with a Hong Kong company called Shanghai Ingredients Trading Limited. Roadman stated that the principals of that company have imported “premium western” pharmaceutical drugs (e.g., controlled substances) to China for over ten years, and they could, it stated, bring market demand to China for cedar leaf oil products for Covid-19.
Shanghai Ingredients, the corporate entity, was also represented as having commercially imported pharmaceutical drugs from Canada to China for ten years. However, according to the Hong Kong corporate registry, Shanghai Ingredients has only been incorporated for 130 days in Hong Kong – since November 21, 2019.
With respect to Shanghai Ingredients’ business of commercial exportation of premium pharmaceuticals from Canada to China, as stated by Roadman, such substances can only be exported and imported by a licensed dealer under export permits.
Enter another Vancouver publo
Another public mining company in Vancouver called Brigadier Gold Limited, issued a somewhat similar news release here about WeChat sales of drugs to consumers in China and represented that it was meeting with the heads of a provincial government from China in mid-January 2020 to collaborate and discuss investment. During mid-January 2020, China was in lockdown over Covid-19.
SEDAR filings from Roadman and Brigadier Gold both mention deals involving James Foster of Shanghai Ingredients and agreements with another material person named Ranjeet Sundher. Neither issuer appears to have disclosed the cross-over, namely of the same two people with the same plan to use the WeChat platform to sell drugs to the exact same market using the expertise of the exact same one person, James Foster. In the event the cross-over is material to investors, or the apparent statutory conflict under the Business Corporations Act is, neither reporting issuer has made a filing in connection therewith on SEDAR.
And enter another Vancouver pubco
Another Vancouver mining pubco called Bolt Metals also has a cross over of China, James Foster and Ranjeet Sundher. Both of the latter are officers of Bolt Metals according to its SEDAR filings and are striking out to sell products in China.
Magic drugs for California
Roadman is also funding a centre in California for psychedelic experiences with magic truffles in case the dispensation and administration of magic truffles by non-medical persons is legalized. Magic truffles are a Schedule III controlled substance under the Controlled Drugs and Substances Act.
Under the 51-102 disclosure rules, Roadman must immediately file on SEDAR, a news release and within ten days, a material change report to disclose the SEC cease trade.