July 15, 2020
ENFORCEMENT AND INVESTOR PROTECTION DEPARTMENT
SEC ADVISORY
ADVISORY ON THE SEASHORE BEACH CLUB, INC. AND MAV DISCOVERY BEACH RESORT DEV'T. CORP.
This is to clarify the SEC Advisory posted in the Commission's website on 8 July 2020 regarding THE SEASHORE BEACH CLUB, INC. and MAV DISCOVERY BEACH RESORT DEV'T. CORP. headed by their president and chairman of the board Mr. Arnel S. Mindanao. The said SEC Advisory was issued by the Commission based on numerous reports and information that the subject companies are found to be selling and offering club shares to the public without the necessary authority and licence issued by the Commission in violation of Section 8 of the Securities Regulation Code (SRC). HTcADC
The public is hereby informed that MAV DISCOVERY BEACH RESORT DEV'T. CORP. (one of the companies subject of the 8 July 2020 SEC Advisory) is NOT IN ANY WAY RELATED TO OR CONNECTED WITH DISCOVERY WORLD CORPORATION ("DWC," a listed company and doing business under the names and styles of DISCOVERY SHORES BORACAY, DISCOVERY SHORES, PLATITOS RESTO-BAR, SANDS LOUNGE, INDIGO RESTO-BAR,...
