ASC reciprocates bans against Andrew Walker, Dale Paulson and Giuliano Tamburrino

CALGARY, April 6 /CNW/ - The Alberta Securities Commission (ASC) has reciprocated an October 7, 2010 British Columbia Securities Commission (BCSC) decision and issued bans against Andrew Gordon Walker, Dale Michael Paulson and Giuliano Angelo Tamburrino.

An ASC panel has ordered that Tamburrino be permanently banned, with limited exceptions, from: trading in or purchasing securities; acting as a director or officer of any issuer; acting in a management or consultative capacity in connection with securities market activities; and disseminating to the public any oral or written communications, by or on behalf of any issuer, that promote or reasonably could be expected to promote the purchase or sale of securities of such issuer. The ASC panel has ordered bans of the same type against Walker and Paulson until at least October 7, 2020.  Each must pay their administrative penalty ordered by the BCSC for their bans to be lifted after October 7, 2020.

In a July 12, 2010 BCSC decision, a BCSC panel found that Walker, Paulson and Tamburrino perpetrated a fraud on Panterra Resource Corp. when they used company funds to purchase Panterra Resource shares for themselves from third parties and sold other wrongfully-issued shares with the intention of keeping the proceeds for themselves. The BCSC panel also found that Walker, Paulson and Tamburrino authorized, permitted or acquiesced to Panterra Resource's filing of financial statements containing false and misleading disclosure. Walker, Paulson and Tamburrino were the operating mind and management of the TSX Venture Exchange-listed Panterra Resource.

A copy of the ASC panel's decision is 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 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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