CALGARY, June 28, 2012 /CNW/ - The Alberta Securities Commission (ASC)
has issued an Interim Cease Trade Order against Edmonton-based
Prosperity Development Group Ltd. and its principal and director
Saileshwar (Sal) Narayan.
The Interim Cease Trade Order is effective immediately and prohibits all
trading in or purchasing of Prosperity Development Group Ltd.
securities. Prosperity Development Group Ltd. and Saileshwar (Sal)
Narayan are also prohibited from trading in or purchasing of all
securities and are denied the use of all Alberta securities laws
exemptions. This Interim Cease Trade Order will expire on July 12,
2012 unless it is extended by the ASC.
A copy of the Interim Cease Trade Order and Notice of Application are 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
SOURCE Alberta Securities Commission
For further information:
For Media Inquiries:
Senior Communications Advisor
For Investor Inquiries:
ASC Public Inquiries
Toll Free 1.877.355.4488