ASC alleges Kenneth and Robert Edmundson breached Alberta securities laws
Nov 12, 2015, 18:05 ET
CALGARY, Nov. 12, 2015 /CNW/ - Alberta Securities Commission (ASC) staff have issued a Notice of Hearing alleging that Kenneth Gilbert Edmundson and Robert Lionel Edmundson made material misrepresentations while acting as nominee directors and officers of Claridge Ventures, Inc. (now Indo Global Exchange(s) Pte, Ltd.).
ASC staff allege the Edmundsons acted at the direction of the company's undisclosed de facto director, Brent Glen Jardine. The alleged misrepresentations include statements and omissions made in filings with the U.S. Securities and Exchange Commission, the U.S. Financial Industry Regulatory Authority and corporate registries. It is alleged that the misrepresentations and misconduct enabled Claridge Ventures to obtain quotation status on the U.S. over-the-counter markets, and enabled Jardine's efforts to evade compliance with British Columbia securities laws, including a director and officer ban. Jardine and Claridge Ventures are currently subject to British Columbia Securities Commission proceedings.
These allegations have not been proven.
An appearance to set a date for a hearing will be held on December 10, 2015 at 2 p.m. in the ASC Hearing Room on the 5th floor, 250 – 5 Street S.W., Calgary, Alberta.
A copy of the Notice of Hearing 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 with fostering a fair and efficient capital market in Alberta and with protecting 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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