CALGARY, Dec. 20 /CNW/ - The Alberta Securities Commission (ASC) is seeking to impose orders against Bul River Mineral Corporation and Gallowai Metal Mining Corporation. The ASC relies on the fact that Bul River Mineral Corporation and Gallowai Metal Mining Corporation are subject to a November 4, 2010 Order made by the British Columbia Securities Commission (BCSC).
The BCSC Order incorporates an undertaking by Bul River Mineral Corporation and Gallowai Metal Mining Corporation to refrain from issuing any new securities and from permitting a distribution of their issued and outstanding voting shares until the BCSC issues an Order permitting such transactions.
Bul River Mineral Corporation and Gallowai Metal Mining Corporation have issued securities to Alberta investors, and the ASC seeks orders against them to protect Alberta investors and the Alberta capital market.
It is anticipated that the ASC panel will consider this application in January 2011.
A copy of the 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.
For further information: For further information:
|For Media Inquiries:
||Tamera Van Brunt
Director, Communications & Investor Education
|For Investor Inquiries:||ASC Public Inquiries
Toll Free 1-877-355-4488