CALGARY, Dec. 23 /CNW/ - The Alberta Securities Commission (ASC) has
concluded a settlement with Concrete Equities Executive Club Inc. regarding
allegations that it breached Alberta securities laws. As of June 2, 2008,
Concrete Equities Executive Club promoted and sold Class B shares to 18
Alberta investors, raising $1,620,000. Concrete Equities Executive Club
admitted it breached Alberta securities laws when it engaged in an illegal
distribution by distributing its Class B shares to 13 of these investors
without a prospectus and without being registered to trade in them.
Concrete Equities Executive Club paid $80,000 to settle the allegations
and $2,000 toward investigation costs. In addition, Concrete Equities
Executive Club has offered to recind and refund all investors who purchased
its Class B shares and has undertaken to refund the investments of the 13
unqualified Alberta investors.
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: Tamera Van Brunt,
Director, Communications & Investor Education, (403) 297-2664; For Investor
Inquiries: ASC Public Inquiries, Toll Free 1-877-355-4488