CALGARY, June 15 /CNW/ - The Alberta Securities Commission (ASC) today
ordered that the Interim Cease Trade Order against CV Technologies Inc. (CVT)
be further extended.
The Interim Cease Trade Order, initially issued on April 19, 2007 and
extended on May 2, 2007, will remain in effect until all conditions in the
latest Extension Order have been met or until July 16, 2007, at which time all
parties will meet before an ASC panel for further advice and direction. The
Interim Cease Trade Order prohibits all trading in securities of CVT.
The ASC panel issued the Extension Order after hearing submissions
presented by ASC staff and counsel for CVT.
In a news release issued on April 11, 2007, CVT acknowledged that its
financial statements for the year ended September 30, 2006 and first quarter
interim financial statements for the period ended December 31, 2006 were not
prepared in accordance with Canadian generally accepted accounting principles.
As a result of this acknowledgement, the ASC issued the initial Interim Cease
Copies of the Interim Cease Trade Order and Extension Orders are
available 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.
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