BCSC Executive Director's Bulletin: Securities regulator issues temporary
order and gives notice of a hearing into alleged advance fee scheme

VANCOUVER, Oct. 9 /CNW/ - The executive director of the British Columbia Securities Commission has issued a notice of hearing and cease trade order against two entities alleging that they have been conducting an advance fee scheme in three Canadian provinces.

The notice of hearing alleges that The Castleton Group and Beltway M&A, two purportedly Hong Kong-based entities, contacted shareholders of TLC Explorations Inc. offering to purchase their shares if they paid a fee in advance.

The notice says Castleton representatives contacted at least six TLC Explorations shareholders in B.C. with the offer in or around May and June 2009. The notice also alleges that Castleton has been operating the advance pay scheme in B.C., Manitoba and Saskatchewan, and Beltway has offered the scheme to an investor in Saskatchewan.

Castleton and Beltway are not registered as corporations in B.C., and TLC Explorations is a non-reporting federally incorporated company.

An advance pay scheme involves soliciting shareholders of private companies for their shares and requires that shareholders pay a fee before their shares are purchased.

A hearing into the allegations will be held before a panel of commissioners on Oct. 23, 2009 at 9 a.m.

The B.C. Securities Commission is the independent provincial government agency responsible for regulating trading in securities within the province. You may view the notice of hearing on our website, www.bcsc.bc.ca. If you have questions, contact Ken Gracey, media relations, 604-899-6577.

SOURCE British Columbia Securities Commission

For further information: For further information: Ken Gracey, (604) 899-6577 or (Canada) 1-800-373-6393


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