CALGARY, June 25 /CNW/ - The Alberta Securities Commission (ASC) has
issued a Notice of Hearing seeking to reciprocate New Brunswick and Ontario
orders in Alberta against First Global Ventures, S.A. and Allen Grossman. ASC
staff allege that First Global and Grossman solicited an Alberta resident to
buy shares in First Global without registering with the ASC or filing the
proper documents as required under the Alberta Securities Act.
Grossman is currently under a November 6, 2007 ASC cease trade order that
bans him from trading and prohibits him from acting as a director or officer
of any issuer for a period of 20 years.
First Global and Grossman are the subject of orders issued by the New
Brunswick Securities Commission (NBSC) on June 14, 2006 and by the Ontario
Securities Commission (OSC) on June 28, 2006. Both the New Brunswick and
Ontario orders banned First Global and Grossman from all trading in securities
and the use of securities law exemptions.
The ASC hearing into this matter is scheduled for Wednesday, July 23,
A copy of the Notice of Hearing outlining the allegations in their
entirety 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.
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