ASC accepts undertakings from Bul River Mineral Corporation, Gallowai Metal Mining Corporation and the estate of Ross Stanfield

CALGARY, Jan. 20 /CNW/ - The Executive Director of the Alberta Securities Commission (ASC) has accepted undertakings from Bul River Mineral Corporation, Gallowai Metal Mining Corporation and the Estate of Ross Stanfield in connection with an ASC staff application to reciprocate a November 4, 2010 order of the British Columbia Securities Commission (BCSC).

Bul River Mineral and Gallowai Metal Mining have each undertaken not to distribute their own securities until the BCSC order is varied to permit such activity.  Representatives of the Estate of Ross Stanfield, which controls 100 per cent of the voting stock of Bul River Mineral and Gallowai Metal Mining, have also undertaken not to permit trading in the companies' securities by the Estate of Ross Stanfield until such time as the BCSC order is varied to permit such activity. Finally, the named parties have also undertaken to post information relating to the companies' activities at www.smginfo.com until such time as the BCSC order is varied to relieve them of the obligation.

The ASC's application to reciprocate the BCSC order was withdrawn upon receipt of the required undertakings.

Copies of the undertakings of Bul River Mineral Corporation, Gallowai Metal Mining Corporation and the Estate of Ross Stanfield have been posted to 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.


SOURCE Alberta Securities Commission

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


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