ASC extends cease trade order against Calgary businessman Hugo Pittoors and Humanus Initiative

CALGARY, Feb. 16 /CNW/ - The Alberta Securities Commission (ASC) has further extended an Interim Cease Trade Order against Hugo Pittoors and his company Humanus Initiative Inc. based on allegations that Pittoors and Humanus Initiative have illegally sold securities to Alberta investors.  The cease trade order will now remain in effect until February 14, 2012.

The ASC panel originally issued an Interim Cease Trade Order against Pittoors and Humanus Initiative on August 9, 2010 and first extended the order on August 24, 2010.  The order prohibits all trading in any securities issued by Pittoors or Humanus Initiative.  The order also prohibits Pittoors and Humanus Initiative from trading in any securities or using any Alberta securities laws exemptions. 

ASC staff continue their investigation into this matter.  Anyone who has been contacted by someone from or on behalf of Hugo Pittoors or Humanus Initiative is asked to contact the ASC Public Inquiries Office at 403-355-4151 or 1-877-355-4488.  Investors are cautioned against sending money for securities or investment purposes to either of the above named parties while the extended Interim Cease Trade Order is in effect.

Copies of the Interim Cease Trade Order: Extension and the Notice of Hearing can be found 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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