OSC Charges Grant Sanders with Securities Act Offences

TORONTO - The Ontario Securities Commission (OSC) announced that Grant Ferdinand Sanders of Burlington, Ontario, has been charged quasi-criminally with one count of fraud.

Mr. Sanders is charged in relation to his role as the Chairman and Chief Executive Officer of Instadose Pharma Corp. (formerly the Excellence Health Group).  Instadose purports to be a licensed certified grower and cultivator of medicinal cannabis.  Since July 2017, Instadose has raised more than $9.4 million from investors.  The OSC alleges that investor funds were diverted to the benefit of Mr. Sanders, his family, and associates.  The OSC further alleges that Instadose materially misrepresented the nature of the company’s business. 

The accused is scheduled to appear in court on this matter on Monday August 16, 2021 at 9:00 a.m. in Courtroom #104 at A. Grenville and William Davis Courthouse, 7755 Hurontario Street, Brampton, Ontario.

Any investors who were solicited by Mr. Sanders or who invested with Instadose should contact the OSC’s Contact Centre at 1-877-785-1555 (Toll Free) or [email protected]. 

This investigation was conducted by a team within the OSC Enforcement branch that investigates quasi-criminal and criminal offences related to securities, including the investigation of alleged recidivists. Their primary objective is to protect investors and further enhance confidence in the Canadian capital markets through effective enforcement.  To date, this team has pursued 52 quasi-criminal and criminal matters involving 76 accused.

Charges laid under the Securities Act (quasi-criminal) are prosecuted by the OSC. Charges laid under the Criminal Code are prosecuted by the Ministry of the Attorney General.

***Updates as of March 15, 2024***

On March 8, 2024, Justice Jennifer McAleer of the Ontario Court of Justice in Brampton granted an application to stay the proceedings against Mr. Sanders on the basis of a breach of the defendant’s section 11(b) Charter right to a trial within a reasonable time.

The mandate of the OSC is to provide protection to investors from unfair, improper or fraudulent practices, to foster fair, efficient and competitive capital markets and confidence in the capital markets, to foster capital formation, and to contribute to the stability of the financial system and the reduction of systemic risk. Investors are urged to check the registration of any persons or company offering an investment opportunity and to review the OSC investor materials available at http://www.osc.ca.

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