ASC Upholds TSXV Ruling Against Frank D'Addario

CALGARY, Nov. 18 /CNW/ - The Alberta Securities Commission (ASC) dismissed an appeal by Frank D'Addario to overturn a TSX Venture Exchange (TSXV) determination that precludes D'Addario from acting as a director or officer of any TSXV-listed issuer.

The TSXV prohibition was issued in October 2006 and is to remain in effect until revoked by the TSXV.

In making the decision to dismiss the appeal, the ASC panel found that the TSXV had both the authority and a valid reason to make its determination against D'Addario.

A copy of the decision can be found on the ASC website at www.albertasecurities.com.

The ASC is the regulatory agency responsible for administering the province's securities laws. It is entrusted with fostering a fair and efficient capital market in Alberta and protecting investors. As a member of the Canadian Securities Administrators, the ASC works to improve, coordinate and harmonize the regulation of Canada's capital markets.

For further information: For Media Inquiries: Mark Dickey, Senior Communications Advisor, (403) 297-4481; For Investor Inquiries: ASC Public Inquiries, Toll Free 1-877-355-4488