CALGARY, Jan. 3, 2019 /CNW/ – The Alberta Securities Commission (ASC) has ordered an interim cease-trade of Prize Mining Corp. shares issued to the subscribers of a July 2018non-brokered private placement until the determination of a January 14, 2019 hearing into allegations about Prize’s public disclosure. The 10-day window gives the junior mining issuer and 12 other respondents time to contest preliminary allegations by Staff of the ASC that Prize breached the Securities Act (Alberta), and acted contrary to the public interest, by making misrepresentations and failing to comply with its continuous disclosure obligations.
The interim cease trade order affects: Seungkap Kim, Kyung Kim Yoon, Justin Edgar Liu, Lisa Jackson, Detona Capital Corp., Tryton Financial Corp., and Rockshore Advisors Ltd. (formerly known as Cam Paddock Enterprises), and any respondents who are associates of these parties by definition in the Act.
These allegations have not been proven and the ASC’s investigation is ongoing.
The ASC is the regulatory agency responsible for administering the province’s securities laws. It is entrusted with fostering a fair and efficient capital market in Alberta and with protecting 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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