From local CBC (source here):

The University Prince Edward Island has removed David Weale from the classroom after he offered students in his history class a 70 to quit the course.

Weale, a sessional lecturer at the university, said his class in the history of Christianity was too big and there were some students that were not going to get anything out of it. He told the students that anyone who wanted to drop out just had to send him an e-mail and stop coming to class. As long as they paid their registration fee they would get a 70.

Weale said the offers were “common practice”
The university announced Wednesday that it was taking disciplinary action against Weale and placed Joe Velaidum, director of the UPEI Centre for Christianity and Culture, in charge of the third-year course.

The school said earlier that all students enrolled in the course would have to complete the work to get a grade.

“It is of paramount importance to ensure the highest standard of academic integrity and attention to student welfare for which UPEI is known,” said president Wade MacLauchlan in a news release.

Gary Bradshaw, the vice-president of finance and facilities, answered media questions on behalf of MacLauchlan.

“The process does call for a follow-up meeting with Dr.Weale and I think that will be taking place shortly. And it will be a matter then for Dr.Weale and perhaps the representation from the faculty association to determine what next steps they might chose to follow. There’s a grievance process if that’s chosen.”

Weale said he refused an invitation to resign from his teaching duties.