Thursday, 28 January 2016

PRESS RELEASE Kelowna , BC June 18 , 2 0 1 5

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Case #2015-25-798, Wednesday June 3, 2015



Wrongful Prosecution and Discrimination against five U-GO Brands Directors

KELOWNA, June 9, 2015 * The Directors of U-GO Brands Nutritional Products Inc., Peter Harris, Lorne Cire, Christopher Burke, Millard Michael Kwasnek, and John Thibert are announcing that they are responding to 24 months of defending themselves from an unlawful and illegal prosecution, perpetrated by the Commission’s investigators and litigators, that resulted in the Commission destroying a perfectly good start-up company and failing to protect some 400 investors.

The Commission investigation was opened when Peter Harris contacted the Commission on June 12, 2013 to advise the Commission that Lorne Cire, Peter Harris and the SPYru Inc. investors had been defrauded by Klaus Glusing, sole owner of SPYru Inc. registered in Providencials, Turks and Caicos Islands. The other Directors, Christopher Burke, Millard Michael Kwasnek, and John Thibert had nothing to do with SPYru’s management. However, the Commission selected to illegally and unlawfully include their names as co-accused in the SPYru Inc. case file. What the Commission neglected to mention to Harris on June 12, 2013 was that the Commission has no control or authority over an offshore company and as a result the Commission investigators and litigators knew very well that bringing forth unfounded allegations against the five Directors under SPYru Inc. was illegal and unlawful.

The Directors retained two different law firms at two different time periods over the last 2 years and these firms ended up doing nothing for the Directors other than costing the Directors $151,700.00 in legal fees to have the attorneys send documents prepared by Peter Harris and forward them to the Commission investigators. The Directors could have used FedEx for the same service and saved a fortune by doing so.

Once the Directors realised that they had been lied to and deceived by the Commission investigators, it was decided by the Directors that Peter Harris would be the spokesperson for the Directors and deal directly with the Commission investigators. From day one, when Peter Harris started dealing directly with the investigators, it became very clear that the Commission investigators strongly objected to and resented the fact that they had to deal directly with a non-attorney Peter Harris. From that point on, the strong arm and intimidating tactics began on the part of the Commission’s investigators.

The Commission investigators and litigators withheld admissible evidence and information from PRESS RELEASE Kelowna , BC June 18 , 2015

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the Directors, specifically the Tribunal Administrative Hearing transcripts. The investigators lied to the SPYru Inc. and to the U-GO Brands investors claiming that the Directors were bad people and operated a bad company and for this reason the Commission will make sure that the Directors are banned for life from trading in securities.

Under oath the investigator testified that she had found no financial wrong doing on the part of Lorne Cire and Peter Harris. The Commission has alleged since January 2014 that Cire and Harris had paid themselves over $400,000.00 in commission fees and to this date this false allegation is still published on the BCSC website.

To protect the SPYru shareholders’ investments, the Directors restructured its Business Model and formed U-GO Brands Nutritional Products Inc., a British Columbia registered company accepted by the Commission. For unknown reasons, once U-GO Brands was formed, the Commission investigators formally accused and issued a Cease Trade Order (CTO) against the Directors and U-GO Brands making allegations of co-conspiracy with SPYru Inc.

For seven months the Directors completely and voluntarily co-operated with the Commission investigators in providing them complete documentation with respect to Klaus Glusing’s misappropriation of funds from SPYru Inc. Following this reasonable and voluntary co-operation by the Directors, the Directors then became the accused instead of the victims and consequently suffered seventeen months of threats, abusive behavior. As a result of this mistreatment, it was decided by the Directors to contact directly the Executive level of the Commission including the Ms. Brenda Leong, Chair and CEO that has refused to be involved.

It has become evident to all parties involved that the Commission is in a compromised position since the March 31, 2015 final hearing due to the wrongful prosecution and false assumptions by the Commission investigators and litigators. For the last six weeks the Commission has gone silent and is stonewalling the official Panel decision in regards to this case. By researching the BCSC website, the Directors have determined that the average deliberating time is from 3 to 4 days from the closing of the final hearing. The Directors were advised by the Commission after the March 31, 2015 final hearing that the panel will take up to 90 days to reach its verdict. Why the constant delays?
Christopher Burke
Peter Harris

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