Sask. residents warned of 'aggressive' letter campaign promoting stock purchase amid COVID-19

A screen above the trading floor of the New York Stock Exchange shows the closing number for the Dow Jones industrial average, Friday, Feb. 2, 2018. (AP Photo/Richard Drew)

REGINA — Saskatchewan residents are reminded to use “extreme caution” if they are sent a letter promoting investment in a B.C. gold mining company, Crestview Exploration Inc.

The Financial and Consumer Affairs Authority (FCAA) says people in B.C., Alberta, Saskatchewan and Manitoba are receiving letters about Crestview, promising major returns during the COVID-19 pandemic. The FCAA says the letters come in an envelope with no return address, and say “CORONAVIRUS AFFECTING MARKETS: READ NOW” on the front in bold red letters.

On April 8, Crestview issued a statement saying it’s not responsible for the letters, which the company says contains “unfounded forward-looking statements.”

The company said investors should verify any statements or buying recommendations.

Investors should use caution when considering promotions from businesses, the FCAA says.

Anyone interested in buying or selling investments should research the company or speak to a registered investment advisor.