ASC Seeking Permanent Trading Ban Against Alberta-based Companies and Businessman



    CALGARY, Sept. 25 /CNW/ - The Alberta Securities Commission (ASC) is
seeking to reciprocate a New Brunswick order against Alberta businesses Locate
Technologies Inc., Tubtron Controls Corp., and 706166 Alberta Ltd. and Alberta
businessman Lorne Drever. Drever is sole director and president of Locate
Technologies and Tubtron Controls and the sole director and shareholder of
706166 Alberta Ltd.
    ASC staff are seeking orders similar to those imposed by the New
Brunswick Securities Commission against Locate Technologies, Tubtron Controls,
706166 Alberta Ltd. and Drever on August 25, 2008:

    
    -   Locate Technologies, Tubtron Controls and 706166 Alberta Ltd. were
        permanently banned from issuing any securities to New Brunswick
        residents and from using any exemptions available under New Brunswick
        securities laws;
    -   Drever was permanently banned from all trading in securities and from
        acting as a director or officer of any securities issuer engaging in
        securities-related activities in New Brunswick;
    -   Locate Technologies and Tubtron Controls were ordered to offer
        refunds to all New Brunswick investors;
    -   Drever, Locate Technologies and Tubtron Controls were ordered to pay
        administrative penalties in the amounts of $100,000, $60,000 and
        $40,000 respectively; and
    -   Locate Technologies, Tubtron Controls, 706166 Alberta Ltd. and Drever
        were ordered to pay costs in the amount of $25,000.
    

    ASC staff allege that both Locate Technologies and Tubtron have
distributed their securities to Alberta investors over the past several years.
    It is anticipated that an ASC panel will consider this matter in October
2008.
    A copy of the Notice of Application is 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: Mark Dickey, Senior
Communications Advisor, (403) 297-4481; For Investor Inquiries: ASC Public
Inquiries, Toll Free 1-877-355-4488


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