ASC Finds Toronto Residents Illegally Traded Limelight Shares




<location>CALGARY</location>, <chron>Sept. 24</chron> /CNW/ - The Alberta Securities Commission (ASC) has determined that Toronto-area residents <person>David Campbell</person>, Carlos Da Silva, Tim McCarty, <person>Jacob Moore</person>, Ove Simonsen, Eric O'Brien, Hank Ulfan and <person>Rick Clynes</person> contravened Alberta securities laws while promoting shares of Limelight Entertainment Inc. The ASC panel found that between <chron>January 2004</chron> and <chron>January 2006</chron>, "some 249 Alberta investors who purchased Limelight shares have apparently been left with a worthless, illiquid investment. Some <money>$817,000</money> raised from Alberta investors has disappeared."  <p></p>
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    Other ASC panel findings include:

    -   Limelight, Campbell, Da Silva, McCarty, Moore, Simonsen, O'Brien,
        Ulfan and Clynes illegally traded and distributed Limelight shares;

    -   Da Silva, Moore, Simonsen, O'Brien and Ulfan made prohibited
        representations to investors; and

    -   Campbell made misleading statements to ASC investigators.
    
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<p>The ASC panel will consider submissions from the parties before it decides what, if any, sanctions it should impose.</p>
<p>A copy of this decision can be found on the ASC website at www.albertasecurities.com.</p>
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<p>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.</p>
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For further information:

For further information: For Media Inquiries: Tamera Van Brunt,
Director, Communications and Investor Education, (403) 297-2664; For Investor
Inquiries: ASC Public Inquiries, (403) 297-4296, Toll Free 1-877-355-4488


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