CALGARY, Oct. 22 /CNW/ - The Alberta Securities Commission (ASC) has
banned Goldpoint Resources Corporation and its president and sole director
Lino Novielli from all trading in securities and the use of any Alberta
securities law exemptions.
The ASC order reciprocates similar orders first issued against Goldpoint
Resources and Novielli on May 27, 2008 by the Saskatchewan Financial Services
Commission, on April 30, 2008 by the Ontario Securities Commission, and on
May 12, 2008 by the New Brunswick Securities Commission.
An ASC panel ruled that the Alberta bans will remain in place for as long
as the longest surviving order against Goldpoint Resources and Novielli
remains in effect. In seeking the reciprocal order, ASC staff provided
evidence that Goldpoint Resources and Novielli had never been registered to
trade securities in Alberta and that between November 2007 and April 2008 four
Alberta residents purchased Goldpoint Resources shares.
A copy of the decision is available on the ASC website at
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.
For further information:
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