The Alberta Securities Commission has issued an Interim Cease Trade Order against Alberta-based Salad Greenhouse Inc., SG Alberta Inc., Ronald Tuttle and Michael Goetz, and has outlined a number of allegations against the parties.

The regulator said on Wednesday that the cease trade order is based on allegations that the named parties engaged in illegal distributions of securities, made prohibited representations to investors and filed documentation with the ASC that contained false or misleading information.

The Interim Cease Trade Order is in effect until August 7, 2010 and prohibits Salad Greenhouse, SG Alberta, Tuttle and Goetz from trading in any securities or relying on any Alberta securities laws exemptions.

ASC staff have also issued a Notice of Hearing outlining the allegations against the parties. The regulator alleges that Salad Greenhouse and SG Alberta are currently offering securities for sale to investors in Alberta without registration or a prospectus and without use of an applicable exemption under Alberta securities laws; that offering memorandums filed by the named parties contain both misrepresentations of material facts and other statements prohibited under Alberta securities laws; and that the named parties made filings with the ASC that contained information which is misleading or untrue.

The next appearance has been scheduled for August 6, 2010 in Calgary, at which time an ASC panel will consider extending the interim order.

IE