ASC finds illegal trades and distributions by Calgary-based Delta 3 Capital

CALGARY, July 23 /CNW/ - The Alberta Securities Commission (ASC) has found that Calgary-based Delta 3 Capital Corporation Inc. and its directors Darrell W. Dunn, Michael Gottselig and Lucas "Luke" Brzeski illegally traded and distributed securities in contravention of Alberta securities laws registration and prospectus requirements and contrary to the public interest.

An ASC panel found that the named parties made misrepresentations to Alberta investors and that "the making of materially untrue and misleading statements to entice investment by Alberta investors is obviously at variance with fairness to investors and capital market integrity."

Delta 3 Capital Corporation, Dunn, Gottselig and Brzeski raised US$1 million through a program that promised fixed returns from trading in United States government treasury bills. The ASC panel noted that "the Program in substance was an amateurish venture by the Respondents, with the Individual Respondents being perhaps somewhat credulous about its profitability."

The ASC panel has set dates regarding submissions by all parties on possible sanctions in this proceeding. Once all parties have made their submissions, the ASC panel will decide what, if any, sanctions ought to be ordered.

A copy of the decision is posted on the ASC website at

The ASC is the regulatory agency responsible for administering the province's securities laws. It is entrusted with fostering a fair and efficient capital market in Alberta and with protecting 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

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