The British Columbia Securities Commission (BCSC) is warning the public to exercise extreme caution about unsolicited phone calls promoting an investment in a B.C.-based technology company.
The BCSC has recently learned that several vulnerable seniors in B.C. have been targeted by someone using high-pressure sales tactics, including daily phone calls, to encourage them to buy shares in CannaOne Technologies Inc.
The caller, whose number appears on caller identification as coming from a 646 area code (New York), instructs people to buy a certain number of shares at a certain price, and tells them not to sell until they receive a follow-up phone call.
The BCSC is currently working with CannaOne to determine who is responsible for the telephone calls. The calls, which appear to have been made to people in other parts of Canada as well, took place between January and March.
The BCSC urges anyone who has received an unsolicited phone call about purchasing CannaOne or any other investment to contact the BCSC Inquiries line at 604-899-6854 or 1-800-373-6393. The BCSC first learned of the calls due to a complaint made to the Inquiries line.
The BCSC also encourages anyone who is considering buying or selling an investment to do research or talk to their registered investment advisor to ensure it is an appropriate decision.
For information on how to become better informed about investment products and services, please visit InvestRight at www.investright.org.