CALGARY, May 4, 2012 /CNW/ - Alberta Securities Commission (ASC) staff have issued a Notice of Hearing alleging that Global 8 Environmental Technologies, Inc., Halo Property Services Inc., Canadian Alternative Resources Inc., Milverton Capital Corporation, Rene Joseph Branconnier and Chad Delbert Burback breached Alberta securities laws by illegally distributing shares, making misrepresentations and perpetrating a fraud on investors. ASC staff also allege that Shane Eli Lucien Thibault participated in the illegal distribution of Global 8 securities.
In the Notice, ASC staff allege that Global 8 Environmental Technologies, Halo Property Services and Canadian Alternative Resources distributed securities without filing a prospectus with the ASC and without an appropriate exemption. ASC staff allege that between May 2003 and June 2009 Global 8 Environmental Technologies raised in excess of $19.5 million by illegally selling shares and warrants to more than 950 investors. ASC staff also allege that Branconnier, Burback and Thibault directed or participated in this illegal distribution and made misrepresentations to investors.
ASC staff further allege that Branconnier and Burback authorized or directed Global 8 Environmental Technologies and Halo Property Services to misdirect investor funds to the Branconnier-controlled entity Milverton Capital Corporation, perpetrating a fraud on investors.
An appearance to set a date for hearing in Calgary will be held on Friday, May 11, 2011, at 9:30 a.m. in the ASC Hearing Room, 5th floor, 250 - 5th Street SW, Calgary, Alberta.
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 Media Inquiries:
Senior Communications Advisor
For Investor Inquiries:
ASC Public Inquiries
Toll Free 1.877.355.4488