CALGARY, June 16 /CNW/ - The Alberta Securities Commission (ASC) has extended 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. The extended Interim Cease Trade Order prohibits all trading in Halo Property Services and Canadian Alternative Resources securities. It also prohibits Halo Property Services and Canadian Alternative Resources from trading in all securities and relying on any Alberta securities laws exemptions. The Order further prohibits Burback from trading in all securities and relying on any Alberta securities laws exemptions except for trading in his own personal accounts through a registrant.
An ASC panel extended the Interim Cease Trade Order after hearing evidence from ASC staff that Halo Property Services, Canadian Alternative Resources and Burback appeared to have distributed securities in Alberta without registration, a prospectus or use of an applicable exemption. The extended Interim Cease Trade Order remains in effect until a hearing into this matter is concluded and a decision is rendered, or until otherwise ordered by the ASC.
ASC staff are continuing their investigation into this matter. Anyone who has been contacted by someone from or on behalf of Halo Property Services or Canadian Alternative Resources is asked to contact the ASC Public Inquiries Office at 403-355-4151 or 1-877-355-4488. Investors are cautioned against sending money to either company while the extended Interim Cease Trade Order is in place and the investigation is underway.
Copies of the extended Interim Cease Trade Order, Interim Cease Trade Order and 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 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: Lorinda Brinton, Senior Advisor, Investor Education, 403.297.2665; For Investor Inquiries: ASC Public Inquiries, Toll Free 1.877.355.4488