CALGARY, June 11 /CNW/ - The Alberta Securities Commission (ASC) has
concluded a settlement with former CV Technologies Inc. vice-president Paul
Norman Oliver regarding allegations of illegal insider trading of CV
Technologies securities. Oliver paid the ASC $375,000 to settle the
allegations and $25,000 towards costs. Oliver also agreed to cease trading in
or purchasing securities, with some exceptions, and refrain from using Alberta
securities laws exemptions for a period of seven years.
In the Settlement Agreement, Oliver admitted he used material undisclosed
information when he sold 415,700 shares of CV Technologies Inc. between
December 14 and 21, 2006. The timing of this sale resulted in Oliver avoiding
a loss of approximately $250,000.
A copy of the Settlement Agreement is posted 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