The Nova Scotia Securities Commission has settled with Raymond Courtney for violations of Nova Scotia securities laws.

Courtney was a director and officer of Knowledge House Inc. from December 1999 to August 2001. During this time, Courtney admits to the purchase and sale of Knowledge House Inc. shares with knowledge of material facts not disclosed to the public.

Mr. Courtney also admits to failing to disclose changes in his ownership or control of Knowledge House Inc. shares before required deadlines, and failing to disclose that he transferred Knowledge House Inc. shares into the name of an agent, nominee or custodian.

Under the order and settlement agreement, Mr. Courtney will pay an administrative penalty of $12,500 and will pay $2,500 in costs connected with the investigation and conduct of the proceedings. He is also barred from acting as an officer or director of a public company in Nova Scotia for two years.

IE