B.C. and Alberta securities regulators urge "extreme caution" after aggressive promotion of mining company

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      These days, dubious stock promotions commonly occur over social media.

      But today, the B.C. and Alberta securities commissions are warning investors to "exercise extreme caution" in connection with a mailout to residents of B.C., Alberta, and Saskatchewan.

      The promotional material claimed that there was a "short-term potential upside" of around 500 percent for people who bought shares in a Calgary-based gold mining company Crestview Exploration Inc. 

      The letter purported that long-term gains could top 2,400 percent.

      And in bold red type, the envelope declared: "CORONAVIRUS AFFECTING MARKETS: READ NOW".

      That drew the ire of the regulators, who warned about that promotions may make false claims of large profits and baseless stock price projections.

      The company issued a statement today acknowledging that the letter carried "unfounded foreward-looking statements".

      "To the best of the company's knowledge no Officers and Directors were involved in this letter," Crestview stated. "Crestview has not paid any compensation for this analyst endorsement."

      It also urged investors and potential investors to verify any statements contained in recommendations to buy its stock..

      The company's Rock Creek Project is the Tuscarora Mountains in Eko County, Nevada.

      Crestview's shares closed at $1.02 today on the Canadian Securities Exchange, up 21.43 percent on the day.