Background:
Pure Gold Mining Inc. was a reporting issuer in British Columbia and had listed its shares on the TSX Venture Exchange and other markets. Larouche, a shareholder, purchased Pure Gold securities during the class period (March 2021–October 2022). She alleged that the company and its officers made false and misleading statements regarding the company's financial and operational state, including liquidity issues, in various disclosure documents. Two major securities offerings were involved: the April 2021 and September 2021 offerings.

By mid-2023, Pure Gold's shares were delisted, and its assets were acquired by West Red Lake Gold Mines Ltd. following insolvency proceedings under the Companies' Creditors Arrangement Act.

Legal Claims:

• Primary Market Claim (s. 131): Misrepresentation in prospectuses for the 2021 securities offerings.
• Secondary Market Claim (s. 140.3): Misrepresentation in public disclosures (struck for lack of leave).
• Negligence: Failure to conduct proper due diligence by the defendants.
• Vicarious Liability: Claims against Pure Gold and underwriters for the actions of their officers.

Court’s Decision:
The court struck the secondary market and parts of the vicarious liability claims, allowing Larouche to amend her pleadings. No final costs or awards were granted as the case remained ongoing.