The Alberta Securities Commission has issued a temporary order against Genius Funds, Genius Investments and Genius Investments (Cyprus) Limited, based on allegations that they have engaged in illegal trading and distribution of securities in Alberta.

The order prohibits the Cyprus-based entities from trading in any securities or relying on any Alberta securities laws exemptions. In addition, an interim cease trade order is in effect until March 24, 2010, prohibiting all trading in Genius Funds, Genius Investments and Genius Investments (Cyprus) Limited securities.

An ASC panel issued the order after hearing evidence from ASC staff that Genius Funds, Genius Investments and Genius Investments (Cyprus) Limited are dealing in and trading in securities to Albertans without registration, a prospectus or use of an applicable exemption.

The British Columbia Securities Commission has also issued a temporary order prohibiting Genius Funds from trading any securities or engaging in any investor relations activities in British Columbia. In addition, securities commissions in Manitoba and New Brunswick have issued investor alerts in connection with Genius Funds.

At an appearance scheduled for March 19, 2010 in Calgary, an ASC panel will consider extending the interim order.

IE