ASC reaches settlement agreement with Ryan James McCool

CALGARY, Sept. 11, 2014 /CNW/ - The Alberta Securities Commission (ASC) has concluded a settlement agreement with Alberta resident Ryan James McCool related to distributions made by Sundre River Resorts Inc.

Under the Settlement Agreement, McCool paid the ASC $15,000 and $2,000 in costs, and for a period of two years agreed to refrain from using any exemptions under Alberta securities laws and not to act as a director or officer of any issuer, registrant or investment fund manager that is relying on any exemptions (with limited exceptions).

In the Settlement Agreement, McCool admitted that between September 2009 and June 2012 he permitted Sundre River Resorts to raise approximately $1.2 million from approximately 30 Alberta investors without filing a prospectus or preliminary prospectus and without an applicable prospectus exemption.  McCool also admitted that he was the sole director, a shareholder, and Vice-President of Sundre River Resorts.

A copy of the Settlement Agreement can be found 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 with fostering a fair and efficient capital market in Alberta and with protecting 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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