CALGARY, Oct. 30, 2014 /CNW/ - The Alberta Securities Commission (ASC) has issued an order granting a partial variation of an ASC cease trade order against Crossroads-DMD Mortgage Investment Corporation (Issuer). Subject to certain conditions, the partial variation order permits the following:
- other than to insiders of the Issuer, redemptions by holders of the Issuer's class B preferred shares, to the extent permitted by the Issuer's Articles and the Business Corporations Act (Alberta); and
- acquisitions by the Issuer of class B preferred shares in accordance with the statutory dissent and appraisal procedures in the Business Corporations Act (Alberta).
Other than as specifically permitted by the partial variation order, the original cease trade order issued on September 13, 2013 remains in effect.
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 Media Inquiries: Mark Dickey, Senior Communications Advisor, 403.297.4481; For Investor Inquiries: ASC Public Inquiries, Toll Free, 1.877.355.4488