ASC Reaches Settlement with Calgary-based Sunningdale Group Inc.



    CALGARY, Sept. 11 /CNW/ - The Alberta Securities Commission (ASC) has
concluded a settlement with Calgary investment promoter Sunningdale Group Inc.
and its principals Victor Spaetgens and Maureen Murray for the illegal
distribution of Sunningdale securities to Alberta investors.

    
    Under the Settlement Agreement:

    -  Spaetgens paid $30,000 in settlement and undertook to cease trading in
       securities, refrain from relying on Alberta securities laws exemptions
       and refrain from acting as a director or officer of any issuer for two
       years;

    -  Murray paid $20,000 in settlement and undertook to cease trading in
       securities, refrain from relying on Alberta securities laws exemptions
       and refrain from acting as a director or officer of any issuer for one
       year; and

    -  Spaetgens and Murray also paid a total of $10,000 towards costs.
    

    In the Settlement Agreement, Sunningdale, Spaetgens and Murray admitted
that Sunningdale had illegally entered into "loan agreements" with members of
the public, which are securities under the Alberta Securities Act. None of the
parties are registered with the ASC to trade or distribute securities, and
they failed to file the required documentation for such transactions as
required by Alberta securities laws.
    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.





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


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