A B.C. man who held leadership roles or significant shares in five different mining companies has agreed to pay $50,000 to settle 200 violations of the provincial Securities Act’s reporting requirements. Christopher R. Anderson was CEO, president and director of Alliance Mining Corp., Great Atlantic Resources Corp. and Ximen Mining Corp. between January 2020 and December 2023, when the breaches occurred, according to his settlement with the B.C. Securities Commission. He was also CEO of Golden Dawn Minerals Inc. and a significant shareholder of Alliance, Great Atlantic, Golden Dawn and a fifth company called GGX Gold Corp., with which he held no leadership role. Because of his significant holdings and positions of authority within the various companies, Anderson was a “reporting insider” under the act, according to the BCSC. This means he was required to report every transaction that “changed his ownership of, or control or direction over,” the securities of each of the five companies, the settlement notes. The document lists 374 total transactions that Anderson was required to report during the relevant period. The transactions involved shares of all five companies, GGX having the lowest total—just 22 transactions—and Ximen having the highest (151). Of the total, Anderson failed to file timely reports for 172 of them, which had a combined value of more than $2 million. Anderson also failed to file 28 reports and issue related news releases in situations where he increased or decreased his holdings of three of the companies by two per cent or more, or where he became or ceased to be a significant shareholder—defined as owning or controlling 10 per cent or more of a company’s outstanding shares. The settlement lists nine such unfiled reports related to Alliance, 12 related to Great Atlantic and seven related to Golden Dawn. When BCSC staff contacted him about his reporting deficiencies, he fully co-operated with the investigation, corrected his filings and paid $10,300 in late filing fees, according to the settlement. He also agreed to enter the settlement and pay the commission a $50,000 penalty, which he has now paid, the BCSC confirmed in a news release this week. Anderson has no prior discipline history with the BCSC.
