ASC extends cease trade order against Aspen Springs Capital Group, Sundre Development and William Joseph Sander

CALGARY, Jan. 27 /CNW/ - The Alberta Securities Commission (ASC) has extended an Interim Cease Trade Order against Calgary-based Aspen Springs Capital Group Inc., Sundre Development Ltd. (also known as Aspen Springs Lake Resort) and William Joseph Sander until January 25, 2012.

The extended Interim Cease Trade Order prohibits all trading in or purchasing of Aspen Springs Capital Group and Sundre Development securities. It also prohibits Aspen Springs Capital Group, Sundre Development and Sander from trading in all securities and using Alberta securities laws exemptions.

An ASC panel extended the Interim Cease Trade Order after receiving evidence that ASC staff continue to investigate alleged breaches of Alberta securities laws by Aspen Springs Capital Group, Sundre Development and Sander. The ASC panel had issued an Interim Cease Trade Order against these parties on July 21, 2010 and extended it on August 4, 2010 after receiving evidence from ASC staff suggesting that Aspen Springs Capital Group, Sundre Development and Sander had made prohibited representations and had engaged in illegal trading and distribution of Sundre Development securities

Anyone who has information about Aspen Springs Capital Group, Sundre Development and Aspen Springs Lake Resort, or about Sander's involvement in Aspen Springs Capital or Sundre Development is asked to contact the ASC Public Inquiries Office at 403-355-4151 or 1-877-355-4488.  Investors are cautioned against sending money for securities or investment purposes to either Aspen Springs Capital or Sundre Development while the Interim Cease Trade Order is in effect.

A copy of the Interim Cease Trade Order: Extension and other documents related to this matter can be found on 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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