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ASC reciprocates bans against Donald Verne Dyer and Pacific Ocean Resources Corporation
CALGARY, Jan. 4, 2013, 2013 (Canada NewsWire via COMTEX) --
The Alberta Securities Commission (ASC)
has reciprocated bans imposed by the British Columbia Securities
Commission (BCSC) on Donald Verne Dyer and Pacific Ocean Resources
Corporation.
The ASC panel permanently banned all trading in securities of Pacific
Ocean Resources, and permanently banned Pacific Ocean Resources from:
-- using registration and prospectus exemptions contained in
Alberta securities laws;
-- acting as a registrant or promoter; and
-- disseminating to the public any communications, by or on behalf
of any issuer, that promote the purchase or sale of securities
of such issuer.
Dyer is also banned, until April 3, 2022, from:
-- trading in or purchasing securities;
-- using registration and prospectus exemptions contained in
Alberta securities laws;
-- acting as a director or officer of any issuer;
-- acting as a registrant or promoter;
-- acting in a management or consultative capacity in connection
with activities in the securities market; and
-- disseminating to the public any communications, by or on behalf
of any issuer, that promote the purchase or sale of securities
of such issuer.
The BCSC found that Dyer and Pacific Ocean Resources illegally raised
approximately US$836,000 from about 83 investors. According to
affidavit evidence provided to the ASC panel, these investors included
Alberta investors. The ASC panel ruled that it would be in the public
interest to reciprocate bans imposed by the BCSC to protect Alberta
investors and the Alberta capital market.
A copy of the decision 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.
SOURCE: Alberta Securities Commission
To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/January2013/04/c4078.html
SOURCE: Alberta Securities Commission
For Media Inquiries: Mark Dickey Senior Communications Advisor 403-297-4481 For
Investor Inquiries: ASC Public Inquiries Toll Free 1-877-355-4488
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