Alberta securities regulators have filed a notice of hearing against Naxos Resources and company insiders Jimmy John, Ian Gordon, Carl Campbell, Sidney Kemp, Antony Moilliet and Frederick Arkoosh Jr.
The date for the hearing has been set for June 26 in Calgary. Naxos no longer trades on the Alberta Stock Exchange.
The notice alleges the company failed to provide proper disclosure of mining results from it properties, made misleading disclosures to influence the stock price, and failed to file reports disclosing material changes in it affairs.
The notice also alleges that each of the individuals named above failed to disclose his trading as an insider pursuant to the Securities Act.
During a recent audit, an independent consultant was not able to confirm gold values previously reported by Naxos from a California property.
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