ASC issues permanent bans against Steven Peter Kyllo, Mercury Capital, Moenkopi Resources and Frey Mining Company

CALGARY, Jan. 27 /CNW/ - The Alberta Securities Commission (ASC) has reciprocated a British Columbia Securities Commission (BCSC) decision and issued permanent bans against Steven Peter Kyllo, Mercury Capital S.A., Moenkopi Resources Inc. and Frey Mining Company Ltd.

In its November 16, 2010 decision, a BCSC panel stated that Kyllo used Frey Mining Company, Moenkopi Resources and Mercury Capital to raise US$1.14 million from investors in British Columbia, Alberta, Ontario and the United States. The BCSC panel found that Kyllo perpetrated a fraud when he lied to investors and used investors' funds to enrich himself, his family members and for other purposes.

An ASC panel has ordered that:

  • all trading in Mercury Capital, Moenkopi Resources and Frey Mining Company securities cease permanently;
  • Kyllo must permanently cease trading in or purchasing securities;
  • Kyllo is permanently prohibited from becoming or acting as a director or officer (or both) of any issuer;
  • Kyllo is permanently prohibited from acting in a management or consultative capacity in connection with activities in the securities market;
  • the named parties are each permanently prohibited from becoming or acting as a registrant, investment fund manager  or promoter; and
  • the named parties are each permanently prohibited from disseminating to the public any oral or written communications, by or on behalf of any issuer, that promote or reasonably could be expected to promote the purchase or sale of securities of such issuer.

A copy of the Decision is available 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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