ASC Bans B.C. Man for Illegal Trading of NOF Electrical Generation Securities

    CALGARY, July 29 /CNW/ - The Alberta Securities Commission (ASC) has
issued market bans against B.C. resident Gregory William Rivers. The
reciprocal order, based on a sanction issued on February 21, 2008 by the
British Columbia Securities Commission (BCSC), bans Rivers from trading in or
purchasing securities and prohibits him from acting as a director or officer
of any issuer or relying on exemptions under Alberta securities laws until
February 21, 2020.
    In the settlement agreement with the BCSC, Rivers admitted to illegally
distributing $4.5 million of NOF Electrical Generation Inc. preferred shares
to individuals in five provinces. Rivers also admitted that he failed to
inform investors of certain material facts, contravened B.C. securities laws
and that his conduct was contrary to the public interest.
    ASC staff presented evidence to the ASC panel that indicated Rivers had
raised more than $1.8 million from at least 40 Alberta residents. In granting
the reciprocal order, the ASC panel stated "We consider that it is appropriate
to make orders designed to restrict Rivers from repeating his misconduct in
Alberta and to deter others from similar misconduct."
    A copy of this decision 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.

For further information:

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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