ASC sanctions John Rogers, Robert Keenan and Charles (Chad) Mitchell in relation to Rogers Oil & Gas and Rogers Gold

CALGARY, Nov. 1, 2013 /CNW/ - The Alberta Securities Commission (ASC) has found that John Dale Rogers, Robert Harold Keenan and Charles (Chad) Mitchell illegally distributed Rogers Oil & Gas Inc. and Rogers Gold Corp. securities, and that Rogers and Keenan made misleading or untrue statements. All that misconduct was found to be contrary to the public interest.

In its decision, an ASC panel ordered that:

• Rogers pay an administrative penalty of $200,000 and $10,000 for investigative costs and be banned from trading in securities, using securities laws exemptions, acting as a director or officer of any reporting issuer, or acting as a registrant or investment fund manager for 12 years;
• Rogers be permanently banned from acting in a management or consultative capacity in connection with activities in the securities market;
• Keenan pay an administrative penalty of $200,000 and $10,000 for investigative costs and be banned from trading in securities, using securities laws exemptions, acting as a director or officer of any issuer, acting as a registrant or investment fund manager, and acting in a management or consultative capacity in connection with activities in the securities market for 12 years; and
• Mitchell pay an administrative penalty of $45,000 and $5,000 for investigative costs and be banned from trading in securities, using securities laws exemptions and from acting as a director or officer of any issuer for 10 years.

In releasing its decision, the ASC panel found that Rogers', Keenan's and Mitchell's misconduct directly harmed investors or put them at risk and "showed a general disregard for fundamental protective elements of Alberta securities laws.  In the result, [Rogers Oil & Gas] and Rogers Gold investors were denied the benefits of fundamental protections to which they were entitled under Alberta securities laws."

A copy of the Decision and the original Notice of Hearing is available 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

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