February 14, 2017: Canadians can no longer trade shares of Horizon Minerals Corp. (HZNM) after the Alberta Securities Commission issued a 15 day halt trade order, citing, “...unexplained and unusual fluctuations in the volume of trading in, and market price of, securities and derivatives of Horizon...”. OTCmarkets slapped HZNM with a Caveat Emptor tag following the Canadian regulator's defensive move.
Penny stock traders can explain HZNM's "fluctuations" having received dozens of promotional emails from the usual suspects. The company, which pretends to be a miner of lithium, carries a market cap of $130 million, a rather generous assessment considering that latest financials report total assets of 181 bucks in cash.
» Related: HZNM Past Performances
Although HZNM is a Delaware corporation purporting to operate out of a Las Vegas mail box, the Alberta Securities Commission was in bounds in its move to prevent Canadians from trading shares, as company President, Robert Fedun, is a Canadian residing in the Province of Alberta, and as such, must file corporate documents in Canada. The company's auditor and securities counsel are both based in Vancouver, British Columbia.