CALGARY, Nov. 25, 2011 /CNW/ - The Alberta Securities Commission (ASC)
has received undertakings from OCI Q Corp., Lethbridge area-based Rand
Tyler Stevenson and Brent Ray Derricott to cease trading in securities
of OCI Q and all securities, and to refrain from using any exemptions.
The undertakings remain in force until December 7, 2011.
The undertakings are connected to an ASC staff application for an
interim cease trade order against OCI Q, Stevenson and Derricott for
alleged breaches of Alberta securities laws. In the application, ASC
staff allege that OCI Q, Stevenson, and Derricott illegally raised $1.2
million from more than 50 investors, via loan agreements with six month
terms, with the promise of returns of up to 150 times the loan amount.
The funds were purportedly to be used to obtain the release of a
billion dollar inheritance connected to the late Ferdinand Marcos of
The application is set to be heard on December 6, 2011, at 9 a.m., in
the ASC Hearing Room on the 5th Floor, 250 -5th Street SW, Calgary, Alberta.
A copy of the Undertakings and Notice of Application can be found at www.albertasecurites.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
SOURCE Alberta Securities Commission
For further information:
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Senior Communications Advisor
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Toll Free 1.877.355.4488