ASC extends cease trade order against Vendivision

CALGARY, April 13 /CNW/ - The Alberta Securities Commission (ASC) has extended an Interim Cease Trade Order against Calgary-based Vendivision Inc., Vendivision Canada Inc. and 1556500 Alberta Ltd. (operating as Vendivision) based on allegations that they engaged in illegal trading and distribution of securities in Alberta.

The extended Interim Cease Trade Order is now in effect until October 12, 2011 and prohibits all trading in Vendivision, Vendivision Canada and 1556500 Alberta securities.  The order also prohibits the named parties from trading in all securities and relying on any Alberta securities laws exemptions.  An ASC panel issued the interim cease trade order after hearing evidence from ASC staff that the named parties distributed securities in Alberta without registration, a prospectus or use of an applicable exemption when they sold DVD vending machine kiosks to Alberta investors through service level and revenue sharing agreements.

Vendivision, Vendivision Canada and 1556500 Alberta are operated by Sidney John Reisner and Gregory Daniel MacPherson, who were subject to an unrelated ASC cease trade order (TSS Management Corp., Re, 2008 ABASC 215) which expired on April 11, 2011.

ASC staff are continuing their investigation into this matter.  Anyone who has been contacted by someone from or on behalf of the Vendivision companies regarding the sale of DVD kiosks through a revenue sharing arrangement or other securities is asked to contact the ASC Public Inquiries Office at 403-355-4151 or 1-877-355-4488.  Investors are cautioned against sending money to any of the Vendivision companies while the extended Interim Cease Trade Order is in place and the investigation is underway.

Copies of the extended Interim Cease Trade Order and Notice of Hearing related to this case can be found on the ASC 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: 

    Lorinda Brinton
Senior Advisor, Investor Education
403.297.2665
For Investor Inquiries: 
    ASC Public Inquiries
Toll Free 1.877.355.4488


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