The Alberta Securities Commission has reciprocated a British Columbia Securities Commission order and banned trading in GDC Investments Inc. securities.

The ASC order is based on the BCSC order dated August 31 that prohibits trading in GDC Investments securities until it files an amended and updated offering memorandum and the executive director of the BCSC revokes the order.

The ASC panel received evidence from ASC staff that GDC Investments has distributed securities to 36 Alberta investors, raising $723,000.

The ASC panel concluded that “reciprocating the BCSC Order will, in the public interest, protect Alberta investors and the Alberta capital market from the risk of harm posed by GDC.”

The ASC says its ban is in effect until such time, if ever, the BCSC order is revoked.

IE