The Alberta Securities Commission (ASC alleges that Mortgage 1 Corp. (M1C), Michael Savage and Daren Broers engaged in illegal trading and distributions of M1C securities.

ASC staff accuse M1C, Savage and Broers of violating Alberta securities laws when they raised over $900,000 from approximately 70 Alberta investors.

The allegations announced today include filing reports with the ASC that falsely certified that investors were qualified for the close family, friends and business associates exemption and failing to disclose additional distributions made to investors.

A hearing date will be set on March 14, 2008 in Calgary.