OCI Q Corp., Stevenson and Derricott temporarily cease trading

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 Philippines.

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 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

 


FORFAITS PERSONNALISÉS

Jetez un coup d’œil sur nos forfaits personnalisés ou créez le vôtre selon vos besoins de communication particuliers.

Commencez dès aujourd'hui .

ADHÉSION À CNW

Remplissez un formulaire d'adhésion à CNW ou communiquez avec nous au 1-877-269-7890.

RENSEIGNEZ-VOUS SUR LES SERVICES DE CNW

Demandez plus d'informations sur les produits et services de CNW ou communiquez avec nous au 1‑877-269-7890.