ASC alleges Rogers Oil & Gas Inc. and former executives misled investors

CALGARY, May 2 /CNW/ - The Alberta Securities Commission (ASC) has issued a Notice of Hearing alleging that Rogers Oil & Gas Inc., John Rogers, Charles (Chad) Mitchell, Brian Wilkinson, Reza Bamoniri and Paul Barker breached Alberta securities laws by making misrepresentations to potential investors and illegally distributing shares in the private, Alberta-based company Rogers Oil & Gas Inc.

ASC staff allege that between June 2008 and January 2011, Rogers Oil & Gas, Rogers, Mitchell, Wilkinson, Bamoniri and Barker raised $18 to 24 million from investors, including Alberta residents. ASC staff also allege that Rogers, Mitchell, Wilkinson, Bamoniri and Barker authorized Rogers Oil & Gas to issue offering memoranda containing several deficiencies, including statements they knew or ought to have known were materially misleading or untrue.

An appearance to set a date for hearing in Calgary will be held on May 12, 2011 at 11 a.m. in the ASC Hearing Room, 5th floor, 250 - 5th Street SW, Calgary, Alberta.

A copy of the Notice of Hearing is available 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 to foster a fair and efficient capital market in Alberta and to protect investors. As a member of the Canadian Securities Administrators, the ASC works to improve, coordinate and harmonize the regulation of Canada's capital markets.

SOURCE Alberta Securities Commission

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

 


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