The Alberta Securities Commission (ASC) has imposed market restrictions and administrative penalties on James Albert Jeffery, Thomas Edward Repke and Richard George Kearl in connection with the illegal distribution of Coadum Capital Fund 1, LLC and Coadum Capital Fund II, LP securities.

During an ASC hearing, Jeffery, Repke and Kearl admitted that they solicited investments in one or both of the Coadum entities without being registered to do so and without filing a prospectus with the ASC.

Jeffery and Repke also acknowledged that they breached the terms of an ASC interim cease trade order.

The ASC panel ordered the following sanctions:

> Jeffery faces a five-year denial of Alberta securities laws exemptions and director and officer bans, and an administrative penalty of $50,000;

> Repke faces a five-year denial of Alberta securities laws exemptions and director and officer bans, and an administrative penalty of $50,000; and

>Kearl faces a two-year denial of Alberta securities laws exemptions, and an administrative penalty of $15,000.

The ASC panel also order payment of a total of $28,000 in costs.

A copy of this decision can be found on the ASC website at www.albertasecurities.com.