On December 1, the Alberta Securities Commission extended its order against Arbour Energy Inc., Dennis Morice, Heinz Weis and Arthur Wigmore, prohibiting the use of all exemptions by Arbour Energy and the named individuals, until further order.

At the hearing on November 16, evidence was provided that Arbour engaged in illegal trades and distributions of its preferred shares, raising over $41 million, of which $22 million was raised in Alberta.

Arbour and its directors are alleged to have made misrepresentations in offering documents used to solicit the investments, and to have relied on exemptions that do not exist in the jurisdictions where the distributions were made.