Games the ASC plays:
ASC Seeking Sanctions Against Flag Resources, Golden Briar Mines, Murdo McLeod and Sidney Miszczuk
Jul 16 2008
The Alberta Securities Commission (ASC) has issued a Notice of Hearing seeking trading bans against Flag Resources Limited, Golden Briar Mines Limited, Murdo McLeod and Sidney Miszczuk. The ASC is also seeking to permanently ban McLeod and Miszczuk from acting as directors or officers of any issuers. McLeod is the president and a director of both Flag Resources and Golden Briar Mines, while Miszczuk is the chairman of Flag Resources’ board of directors.
ASC staff allege that Flag Resources and Golden Briar Mines failed to provide continuous disclosure information as required by Alberta securities laws, and that McLeod and Miszczuk, as officers of these companies, failed to ensure that Flag Resources and Golden Briar Mines filed and provided this information as required.
Flag Resources and Golden Briar Mines are already subject to cease trade orders issued by the ASC in 2006. At one time the securities of both companies were listed for trading on the TSX Venture Exchange (TSXV), but were delisted on August 25, 2005 for failure to comply with the TSXV’s filing, approval and disclosure requirements.
The ASC will convene at 2 p.m. on Wednesday, August 13, 2008 to set a date for the hearing into this matter.
A copy of the Notice of Hearing outlining the allegations in their entirety 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.
Flag has not been trading for 5 years thanks to the protector commissars and since flag let out a little fart yesterday the wise men at the ASC woke up and could not believe that these 2 scoundrels are still around.
Thanks ASC for 'protecting' the flag shareholders! |
