On the heels of the Norbourg affair, Michel Cousineau, CEO and chairman of MCA Securities Inc., says that Norbourg never acquired MCA Securities.

“The acquisition project reported in the Norbourg press release dated October 7, 2004, 8:24pm, specified that the transaction required approval from regulatory authorities. However, approval was never received,” explains Cousineau.

“While Norbourg owns less than 10% of MCA Securities shares, the current Norbourg scandal has had absolutely no effect on MCA Securities operations. I want to make it perfectly clear that Mr. Vincent Lacroix was never directly or indirectly an administrator or director of MCA Securities.”

“We want to reassure our clients, our employees and our partners that it is business as usual for MCA Securities and that we will continue to serve our clients with all the professionalism that they deserve and have come to expect from us,” added Cousineau.

Founded in 1992, Montreal-based MCA Securities Inc. is an independent full-service brokerage firm.