The Alberta Securities Commission has issued an interim cease trade order against Sellars Financial Inc., Robert John Sellars and Penny Jean Sellars.

The order is based on allegations by ASC staff that the named parties engaged in an illegal distribution of Sellars Financial Inc. securities and that Robert John Sellars failed to comply with an ASC trading prohibition.

The order is in effect for 15 days and prohibits Sellars Financial Inc., Robert John Sellars and Penny Jean Sellars from trading in any securities or relying on any Alberta securities laws exemptions.

The ASC has also issued a Notice of Hearing in which ASC staff allege that:

• between 2001 and 2009, the named parties illegally raised in excess of $30 million from more than 250 Alberta investors without registration or a prospectus, and without use of permitted exemptions;

• the named parties illegally traded and distributed securities of Sellars Financial Inc. in Alberta; and

• Robert John Sellars failed to comply with a November 28, 2006 ASC decision that prohibited him from trading in or purchasing securities for two years.

The next appearance has been scheduled for July 7, in Calgary. At that time, an ASC panel will consider extending the interim order.

IE