CALGARY, July 27 /CNW/ - The Alberta Securities Commission (ASC) has issued an Interim Cease Trade Order against Calgary-based Aspen Springs Capital Group Inc., Sundre Development Ltd. (aka Aspen Springs Lake Resort) and William Joseph Sander based on allegations that they made prohibited representations and have engaged in or are engaging in illegal trading and distribution of Sundre Development securities.
In a Notice of Hearing, ASC staff also allege that Aspen Springs Capital and Sander dealt in securities in Alberta without being registered with the ASC and Aspen Springs Capital, Sundre Development and Sander relied on Alberta securities laws exemptions that were not applicable to particular investors.
The Interim Cease Trade Order is effective until August 5, 2010 and prohibits all trading in and purchasing of Aspen Springs Capital or Sundre Development securities and any trading in securities or use of Alberta securities laws exemptions by Aspen Springs Capital, Sundre Development or Sander.
The next appearance in this matter is scheduled for 9 a.m. on August 4th, 2010, in the ASC Hearing Room on the 6th floor, 300-5th Ave SW, Calgary, Alberta. At that time, an ASC panel will consider extending the interim order.
Copies of the Interim Cease Trade Order and Notice of Hearing can be found 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 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 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