CALGARY, June 1 /CNW/ - The Alberta Securities Commission (ASC) has issued an interim cease trade order against Vancouver-based Halo Property Services Inc., Red Deer-based Canadian Alternative Resources Inc. and Red Deer resident Chad Delbert Burback, based on allegations that they engaged in illegal trading and distribution of Halo Property Services and Canadian Alternative Resources securities in Alberta.
The interim cease trade order is in effect until June 11, 2010 and prohibits all trading in Halo Property Services and Canadian Alternative Resources securities. The order also prohibits Halo Property Services, Canadian Alternative Resources and Burback from trading in all securities and relying on any Alberta securities laws exemptions. An ASC panel issued the interim cease trade order after hearing evidence from ASC staff that Halo Property Services, Canadian Alternative Resources and Burback distributed securities in Alberta without registration, a prospectus or use of an applicable exemption.
The ASC anticipates that an application to extend the interim order will be scheduled some time prior to June 11, 2010 in the ASC Hearing Room on the 6th floor, 300-5th Ave SW, Calgary, Alberta.
Copies of the Interim Cease Trade Order and Notice of Application 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 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