ASC Extends Cease Trade Order Against Progressive Energy Partners

CALGARY, Dec. 15 /CNW/ - The Alberta Securities Commission (ASC) has extended an interim cease trade order against Nevada-based Progressive Energy Partners, LLC, Progressive Energy Partners, LLC 3, and Progressive Energy Partners, LLC 4 based on allegations that the companies illegally sold securities to Alberta investors.

The interim cease trade order prohibits the Progressive Energy companies from trading in any securities or using any Alberta securities law exemptions. The cease trade order will remain in effect until a hearing into this matter is concluded and a decision rendered, unless otherwise ordered by the ASC.

Copies of the extended Interim Cease Trade Order, the original Interim Cease Trade Order, and Notice of Hearing can be found 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.

For further information: For Media Inquiries: Mark Dickey, Senior Communications Advisor, [phone]; For Investor Inquiries: ASC Public Inquiries, Toll Free: 1-877-355-4488