ASC Reaches Illegal Insider Trading Settlement with Retired Calgary
Businessman

CALGARY, Dec. 29 /CNW/ - The Alberta Securities Commission (ASC) has concluded a settlement with William Bint, a retired senior employee of a major energy company, in connection with allegations that he engaged in illegal insider trading of Canadian Quantum Energy Corporation securities in May 2008.

Under the settlement agreement, Bint paid the ASC $234,000 to settle the allegations against him, plus $5,000 towards costs. Bint also undertook to cease trading in securities and refrain from using any Alberta securities laws exemptions for three years.

In the settlement agreement, Bint admitted that he was aware of impending business agreements between a corporation related to Canadian Quantum and a third party which would result in Canadian Quantum acquiring a potentially valuable shale gas property in the Province of Quebec. He admitted that he purchased shares of Canadian Quantum before the agreements were made public. By doing so, Bint realized a profit of approximately $156,000.

A copy of the settlement agreement is posted 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 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


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890