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Gold/Mining/Energy : Cartaway resources
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To: Supervalue who wrote (1952)7/30/1998 4:23:00 PM
From: wayne cath  Read Replies (1) of 2505
 
First Marathon concludes Cartaway settlement with Alberta Securities
Commission
Cartaway Resources Corporation CWA
Shares issued 37,914,563 Jul 29 close $0.105
Thu 30 Jul 98 News Release
See First Marathon Inc (FMS.A) News Release
Mr. F. Michael Walsh of First Marathon reports
A panel of members of the Alberta Securities Commission has approved the
agreement in principle that had been reached earlier with staff of the ASC
in respect of matters involving First Marathon Inc.'s principal operating
subsidiary, First Marathon Securities Limited (FMSL). The issues related to
the inappropriate use of a prospectus exemption in the distribution of
shares of Cartaway Resources Corporation in 1995, the supervision of FMSL's
employees in respect of such distribution, and the failure to designate
certain transactions in Cartaway shares during 1996 as pro-trades.
FMSL agreed to pay $200,000 to the ASC in trust to be used for the
education of the general public of Alberta concerning investment in the
capital markets and $50,000 to the ASC in reimbursement of its costs of the
investigation and related proceedings in this matter.
Ms. Anne Brown of the ASC also reports
The settlement agreement only applies to FMSL and the remaining nine
respondents named in the case will have a date for a hearing set at on
Sept. 24, 1998, in the ASC's Calgary office.
(c
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