CALGARY, March 7 /CNW/ - The Alberta Securities Commission (ASC) has
ordered a six-year market ban (with exceptions), payment of a $15,000
administrative penalty and $1,000 in costs by Susan Amelia Sanford of Calgary,
Alberta. The ASC panel also prohibited Glen Lochton Management Inc. (GLMI), a
company owned and operated by Sanford, from trading for six years.
The ASC panel found that Sanford, through GLMI, had raised approximately
$237,000 through the illegal distribution of securities in Goldtech Mining
Corporation (Nevada) to 30 Alberta residents.
In its decision, the ASC panel stated that the sanctions it imposed "...
are in the public interest and will provide the appropriate specific
deterrence of future misconduct by Sanford and GLMI and general deterrence of
others who might be inclined to engage in similar misconduct."
A copy of the decision will be 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: Tamera Van Brunt,
Director, Communications and Investor Education, (403) 297-2664; For Investor
Inquiries: ASC Public Inquiries, (403) 297-4296, Toll Free 1-877-355-0585