CALGARY, June 4 /CNW/ - The Alberta Securities Commission (ASC) has
issued an interim cease trade order against Shayne Lorne Malsbury and Malsbury
Investment Corporation. The order prohibits the parties from trading in any
securities and denies them the use of all exemptions contained in Alberta
An ASC panel issued the 15-day interim order after hearing evidence from
ASC staff that the parties had illegally distributed Malsbury Investment
Corporation securities to Alberta residents in the form of promissory notes
purporting to pay interest rates of up to 50% per year. ASC staff allege that
approximately 171 investors contributed over $12 million to Malsbury
Investment Corporation through these promissory notes.
An ASC panel will consider whether to extend the interim cease trade
order during a hearing scheduled at 9 a.m. on Wednesday, June 18, 2008, in the
ASC Hearing Room on the 6th floor, 300 - 5th Avenue S.W., Calgary, Alberta.
A copy of the interim cease trade order and notice of hearing can be
found 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: Mark Dickey, Senior
Communications Advisor, (403) 297-4481; For Investor Inquiries: ASC Public
Inquiries, Toll Free 1-877-355-4488