CALGARY, May 31, 2011 /CNW/ - The Alberta Securities Commission (ASC)
has issued a Notice of Hearing alleging that Edmonton businessman Dr.
Richard Gary Nash engaged in illegal insider trading of Liberty Mines
ASC staff allege that Nash, as a company director and member of the
senior management team, was in a special relationship with Liberty
Mines and was in possession of material information relating to Liberty
Mines' operations that had not been generally disclosed to the public.
ASC staff allege that following his departure from the company's board
of directors and senior management team, and prior to the general
disclosure of this fundamental change in Liberty Mines' operations,
Nash sold 1,240,500 Liberty Mines shares on November 10, 2010. ASC
staff further allege that Nash avoided a loss of more than $21,800 as a
result of having engaged in this illegal trading activity.
An appearance to set a date for a hearing in Edmonton will be held on
June 1, 2011 at 9:30 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
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
SOURCE Alberta Securities Commission
For further information:
| For Media Inquiries: |
| Mark Dickey |
Senior Communications Advisor
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| ASC Public Inquiries |
Toll Free 1.877.355.4488