CALGARY, Feb. 2 /CNW/ - Alberta Securities Commission (ASC) staff are
seeking to reciprocate orders similar to those issued by the Ontario
Securities Commission (OSC) against Ontario-based York-Rio Resources Inc. and
Brilliante Brasilcan Resources Corp.
The OSC temporary Cease Trade Order, which has been extended to March 4,
2009, prohibits trading in Brilliante Brasilcan Resources securities and
prohibits all trading by York-Rio Resources and Brilliante Brasilcan
Resources. The OSC alleges that York-Rio Resources and Brilliante Brasilcan
Resources contravened Ontario securities laws by illegally trading and
distributing securities without a prospectus and proper registration. Similar
temporary cease trade orders have been issued against York-Rio Resources in
Saskatchewan and British Columbia.
ASC staff allege York-Rio Resources and Brilliante Brasilcan Resources
have been active in the Alberta capital market and solicited Alberta
investors. Neither is registered with the ASC to trade securities.
It is anticipated that an ASC panel will consider this matter in March
A copy of the Notice of Hearing is available on the ASC website at
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