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
SOURCE Alberta Securities Commission
For further information:
| For Media Inquiries: |
| || || Lorinda Brinton |
Senior Advisor, Investor Education
| For Investor Inquiries: |
| || || ASC Public Inquiries |
Toll Free 1.877.355.4488