CALGARY, Sept. 25 /CNW/ - The Alberta Securities Commission (ASC) has
issued a Notice of Hearing seeking trading bans and monetary sanctions against
Delaware business Sea Sun Capital Corporation, its former chair and director
Rodney Koch and its former president and director Graham Millington. The ASC
is also seeking to ban Koch and Millington from acting as directors or
officers of any issuer.
ASC staff allege that the named parties breached Alberta securities laws
by illegally distributing Sea Sun Capital securities to investors in Alberta,
making misleading statements to investors and making prohibited
representations regarding Sea Sun Capital's listing status. ASC staff allege
the named parties raised approximately $5 million from investors, including at
least 55 Alberta investors.
The ASC will convene in Calgary at 9 a.m. on October 24, 2008 to set an
Edmonton hearing date into this matter.
A copy of the Notice of Hearing outlining the allegations in their
entirety 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