Commission overturns TSX Venture Exchange decision to disqualify Nichols

    VANCOUVER, June 11 /CNW/ - A British Columbia Securities Commission panel
has overturned a TSX Venture Exchange decision that disqualified a man with a
history of criminal convictions from performing investor relations activities.
    On June 7, 2007, the commission panel set aside the TSX-V exchange's
decision that William John Nichols is unacceptable to perform investor
relations activities on behalf of any Exchange-listed company and must obtain
Exchange approval to do any work for a listed company.
    The Exchange disqualified Nichols because of his criminal convictions in
1976 for robbery, theft, and breaking and entering, and because he initially
disclosed only his first-degree murder conviction in his personal information
    The Exchange stated that "in order to foster investor confidence in the
Exchange it is prudent for the Exchange to protect its reputation by refusing
to be associated with persons having such a serious criminal history as Mr.
Nichols does."

    The commission panel found that, in reaching its decision, the Exchange
overlooked material evidence, including:
    -   the fact that Nichols made no attempt to conceal his first-degree
        murder conviction and promptly provided full information about all of
        his convictions when the Exchange requested more information
    -   Nichols' release from prison under the 'faint hope' clause, the
        passage of time and evidence of rehabilitation since his conviction
        for murder, and his past work for Exchange-listed companies

    In setting aside the Exchange's decision, the commission panel said that
"the Exchange could not reasonably conclude, based on the evidence before us,
that it should disqualify Nichols from performing investor relations
activities for listed companies."

    The B.C. Securities Commission is the independent provincial government
agency responsible for regulating trading in securities within the province.
You may view the decision on our website by typing in the
search box, William John Nichols or 2007 BCSECCOM 319. If you have questions,
contact Ken Gracey, Media Relations, 604-899-6577.

For further information:

For further information: Ken Gracey, (604) 899-6577 or (B.C. & Alberta)

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