ASC alleges illegal advertising statements by Prism Investments Ltd.

CALGARY, Dec. 9 /CNW/ - The Alberta Securities Commission (ASC) has issued a Notice of Hearing alleging that Prism Investments Ltd. and its President and Chief Executive Officer Ali Ghani breached Alberta securities laws by making misleading or untrue statements in an advertisement in the November 2009 - January 2010 edition of Uptown magazine.

ASC staff allege that Prism Investments made misleading or untrue statements when it advertised that securities investment opportunities were fully secure and safe, were strictly regulated and monitored by the ASC, and offered projected returns of 60 to 100 per cent.

An appearance to set a date for hearing in Calgary will be held on January 13, 2010 at 2 p.m. in the ASC Hearing Room, 6th Floor, 300 - 5th Avenue S.W., Calgary, Alberta.

A copy of the Notice of Hearing can be found on the ASC website at

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 further information: For Media Inquiries: Tamera Van Brunt, Director, Communications & Investor Education, (403) 297-2664; For Investor Inquiries: ASC Public Inquiries, Toll Free 1-877-355-4488

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