ASC seeks bans against Andrew Gordon Walker, Dale Michael Paulson and Giuliano Angelo Tamburrino

CALGARY, Feb. 24 /CNW/ - The Alberta Securities Commission (ASC) is seeking to reciprocate orders imposed by the British Columbia Securities Commission (BCSC) against Andrew Gordon Walker, Dale Michael Paulson and Giuliano Angelo Tamburrino.

A BCSC panel found that Walker, Paulson and Tamburrino perpetrated a fraud against Panterra Resource Corp. when they used company funds to buy Panterra Resource shares for themselves from a third party and sold other wrongfully-issued shares with the intention of keeping the proceeds for themselves. At the time, they were all directors at the TSX Venture Exchange-listed Panterra Resource and were its directing mind and management.

On October 7, 2010, the BCSC permanently banned Tamburrino, with limited exceptions, from purchasing securities or exchange contracts, and from acting as a director or officer of any issuer. He is also permanently banned from acting as a manager or consultant in connection to the securities market and from engaging in investor relations activities. The BCSC imposed the same bans against Walker and Paulson for a period of 10 years.  The bans will only be lifted if Walker and Paulson pay the administrative penalties ordered in the October 7, 2010 decision.

The ASC seeks reciprocation of the BCSC orders to protect Alberta investors and the Alberta capital market.

It is anticipated that the ASC panel will consider this application in March 2011.

A copy of the Notice of Hearing 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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