CALGARY, June 12 /CNW/ - Solid Resources Ltd. (Solid) and Alvin Harter of
Ardrossan, Alberta have paid the Alberta Securities Commission (ASC) $65,000
after admitting they breached Alberta Securities laws. As well, under terms of
the ASC settlement, Harter will refrain (with limited exceptions) for a period
of five years from trading in or purchasing securities, from using any
exemptions under Alberta securities laws, and from acting as a director or
officer of any issuer.
In a settlement with the ASC, Harter admitted that between 2001 and 2003,
he illegally sold securities of Pride Resources Ltd. (which ceased operations
in January 2004) and improperly advised potential investors that Pride
Resources would be applying for listing on an exchange. The sale of Pride
Resources securities to 40 Alberta investors raised approximately $1 million.
Solid and Harter also admitted they illegally sold Solid's securities in May
of 2003, raising $240,000 from 15 Alberta residents.
A copy of the Settlement Agreement and Undertaking is posted 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 and Investor Education, (403) 297-2664; For Investor
Inquiries: ASC Public Inquiries, (403) 297-4296, Toll Free 1-877-355-4488