ASC extends cease trade order against Aspen Springs Capital Group, Sundre Development and William Joseph Sander

CALGARY, Jan. 20, 2012 /CNW/ - The Alberta Securities Commission (ASC) has again extended an Interim Cease Trade Order against Calgary-based Aspen Springs Capital Group Inc., Sundre Development Ltd. (also known as Aspen Springs Lake Resort) and William Joseph Sander.  The Interim Cease Trade Order remains in effect until a hearing into this matter is conducted and a decision rendered.

The extended Interim Cease Trade Order prohibits all trading in or purchasing of Aspen Springs Capital Group and Sundre Development securities. It also prohibits Aspen Springs Capital Group, Sundre Development and Sander from trading in all securities and using Alberta securities laws exemptions.

The ASC panel had issued the Interim Cease Trade Order against these parties on July 21, 2010 and extended it on August 4, 2010, on January 25, 2011, and on January 18, 2012 after receiving evidence from ASC staff suggesting that Aspen Springs Capital Group, Sundre Development and Sander had made prohibited representations and had engaged in illegal trading and distribution of Sundre Development securities.

ASC staff caution investors against sending money for securities or investment purposes to either Aspen Springs Capital Group or Sundre Development while the Interim Cease Trade Order is in effect. Anyone who has information about Aspen Springs Capital Group, Sundre Development Group or Aspen Springs Lake Resort, or about Sander's involvement in Aspen Springs Capital or Sundre Development, is asked to contact the ASC Public Inquiries Office at 403-355-4151 or 1-877-355-4488.

A copy of the Interim Cease Trade Order: Extension and other documents related to this matter 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 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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