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Gold/Mining/Energy : Winspear Resources -- Ignore unavailable to you. Want to Upgrade?

To: The Fix who wrote (8096)	9/24/1998 4:48:00 PM
From: Mr Metals	Read Replies (1) \| Respond to of 26850

Sounds like something GUMBY would do, eh?.....LOL BC Securities Commission - Daniel William Fisher fined $25,000, stripped of trading rights for 15 years BC Securities Commission BCSEC Shares issued 0 1899-12-30 close $0 Thursday Sep 24 1998 Mr. Michael Bernard reports The president and sole director of a company who sold shares in the company without being registered or filing a prospectus has been fined $25,000 and stripped of his trading rights for 15 years by the British Columbia Securities Commission. In a decision released recently, a commission panel also prohibited Daniel William Fisher from acting as a director or officer of any company or engaging in investor relations activities for 15 years and ordered him to pay the costs of the hearing. The panel was told Mr. Fisher was sole shareholder, director and president of Western Horizontal Drilling, a company in the business of purchasing interests in oil and gas leases and then selling fractions of those interests to investors. Between December 1990 and November 1991, WHD sold fractional interests in a well in Texas to 28 investors, 24 of them B.C. residents. Mr. Fisher placed advertisements in The Province and Vancouver Sun newspapers to promote the scheme. One of the ads promised a 700 per cent return on invested capital in less than 80 days and claimed a 1990 track record of seven wells averaging 800 barrels of oil a day. Fisher was the directing mind of WHD and must be held responsible for the company's complete disregard for the requirements of the Securities Act. He dealt with the investors who purchased WHD's securities and he caused the company to place advertisements respecting its securities that contained blatant misrepresentations, including ludicrous projected rates of return. As a result of Fisher's actions, 28 investors lost between $300,000 and $400,000 (U.S.) and the capital market in British Columbia was brought into disrepute. (c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com MM