ASC Sanctions Oxford and Imposes Permanent Market Ban on Joseph Edward Allen

    CALGARY, March 28 /CNW/ - The Alberta Securities Commission (ASC) has
determined that Joseph Edward Allen (Allen), Oxford Investments Holdings Inc.
(Oxford), and Michael Bernard Donaghy (Donaghy) engaged in illegal trades and
distributions of Oxford securities. In its decision, the ASC panel also
concluded that Allen made misrepresentations to investors and engaged in an
unfair practice by putting unreasonable pressure on an investor to purchase
Oxford securities. The ASC permanently prohibited Allen from trading
securities and from using exemptions under Alberta securities laws, and
ordered Allen to pay an administrative penalty of $100,000, as well as costs.
    In addition, the ASC panel found that Oxford and Donaghy filed documents
with the ASC that contained misrepresentations. The ASC panel barred Oxford
and Donaghy from using exemptions until December 15, 2007 and ordered them to
pay administrative penalties of $20,000 each, as well as costs.
    The ASC panel noted it is, "imperative that we remind those wishing to
raise funds from the public by using the capital raising exemptions that the
Commission demands strict compliance with Alberta securities laws and that
there are harsh consequences for non-compliance with our laws."
    A copy of the Decision is available on the ASC website at

    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

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