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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony,

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From: StockDung4/8/2008 12:04:43 PM
   of 122044
 
Alberta Securities Comm. Hearing Against CMKM Diamonds on April 9

By Jeff Miller Posted: 03/19/08 14:02 [Submit Comment]


RAPAPORT... The following notice was issued today against CMKM Diamonds. For more information on CMKM, please scroll past this notice to read related stories.

The Alberta Securities Commission (ASC) has issued a Notice of Hearing to seek an order reciprocal to Saskatchewan and Manitoba orders against CMKM Diamonds Inc. ASC staff alleges that CMKM sold shares to Alberta residents without registering with the ASC or filing the proper documents required for distribution of securities under the Alberta Securities Act. The ASC hearing is scheduled for Wednesday, April 9, 2008.

CMKM is the subject of orders issued by the Saskatchewan Financial Services Commission, Securities Division (SFSC) on November 9, 2004 and by the Manitoba Securities Commission (MSC) on October 31, 2007. The SFSC issued its orders based on allegations that CMKM violated securities laws in Saskatchewan by trading CMKM securities in Saskatchewan despite the facts:

- it was not registered to do so;
- SFSC had not issued a receipt with respect to those securities;
and
- SFSC had not issued an order granting exemptions from
registration and prospectus requirements.


The MSC issued its order under the reciprocal enforcement provisions of the Manitoba Securities Act. Both jurisdictions have banned all trading of CMKM securities and the use of securities law exemptions.

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.
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