CALGARY, April 18 /CNW/ - The Alberta Securities Commission (ASC) today
announced a settlement with Kenneth Biddell of Medicine Hat.
Under terms of the Settlement Agreement and Undertaking, Biddell agreed
to pay $15,000 to the Commission to settle its allegations against him and
$3,000 towards investigation costs. In addition, Biddell undertook for a
period of five years to refrain from trading in or purchasing securities (with
exceptions), using any exemptions under Alberta securities laws, or acting as
a director or officer of any reporting issuer.
In the Settlement Agreement and Undertaking, Biddell admitted to
breaching the Alberta securities laws by engaging in an illegal distribution
of securities of 786387 Alberta Ltd., which carried on business as LED
During the illegal distribution in 2004 and 2005, Biddell participated in
the promotion and sale of approximately 6 million securities of LED from 113
Alberta residents that raised approximately $700,000.
A copy of the Settlement Agreement and Undertaking is posted 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.
For further information:
For further information: For Media Inquiries: Tamera Van Brunt,
Director, Communications and Investor Education, (403) 297-2664; For Investor
Inquiries: ASC Public Inquiries, (403) 297-4296, Toll Free 1-877-355-0585