CALGARY, Nov. 6 /CNW/ - The Alberta Securities Commission (ASC) has issued an Interim Cease Trade Order against British Columbia-based Liberty International Mineral Corporation and its President and CEO Leonard Allen Lindstrom based on ASC staff allegations that Lindstrom and Liberty International Mineral engaged in illegal distributions of Liberty International Mineral securities to Alberta residents.
The Interim Cease Trade Order is in effect for 15 days and prohibits all trading in or purchasing of Liberty International Mineral securities and any trading in securities or use of Alberta securities laws exemptions by Liberty International Mineral or Lindstrom. The ASC has also issued a Notice of Hearing in which ASC staff allege that:
- Liberty International Mineral and Lindstrom are not registered with
the ASC to trade shares in Alberta;
- Liberty International Mineral has not filed a prospectus with the
ASC to trade shares in Alberta; and
- Liberty International Mineral and Lindstrom traded Liberty
International Mineral shares to Alberta investors who did not
qualify for the registration and prospectus exemptions being relied
upon by the respondents.
The next appearance is scheduled for 9 a.m. on November 16, 2009, at the Alberta Securities Commission, 6th Floor, 300 - 5th Avenue SW, Calgary, Alberta. At that time, an ASC panel will consider extending the Interim Order.
Copies of the Interim Cease Trade Order and Notice of Hearing are 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 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