ASC alleges Danish Soleja, Dansol International Inc., and related companies breached Alberta securities laws

CALGARY, Dec. 17, 2015 /CNW/ - Alberta Securities Commission (ASC) staff have issued a Notice of Hearing alleging breaches of Alberta securities laws by  Danish Soleja, Dansol International Inc., Parkview Limited Partnership, 1476634 Alberta Ltd., and Graphite Finance Inc., in connection with the sale of investments in a proposed Pigeon Lake land development project.

ASC staff allege that in the course of soliciting, promoting, and selling investments in an intended land development project to be known as "Watermere Resort," Soleja and his corporate vehicles misled investors about land use limitations and the county approval process. ASC staff also allege Soleja and his corporate vehicles failed to provide necessary information to investors, such as the original cost of the property to Dansol and the county's rejection of the proposed area structure plan.

ASC staff further allege breaches of registration and prospectus requirements under Alberta securities laws.

The allegations have not been proven.

An appearance to set a date for a hearing will be held on January 14, 2016 at 10:00 a.m. in the ASC Hearing Room on the 5th floor, 250 – 5 Street S.W., Calgary, Alberta.

A copy of the Notice of Hearing can be found on the ASC website at www.albertasecurities.com.

The ASC is the regulatory agency responsible for administering the province's securities laws. It is entrusted with fostering a fair and efficient capital market in Alberta and with protecting investors. As a member of the Canadian Securities Administrators, the ASC works to improve, coordinate and harmonize the regulation of Canada's capital markets.

SOURCE Alberta Securities Commission

For Media Inquiries: Mark Dickey, Senior Communications Advisor, 403.297.4481; For Investor Inquiries: ASC Public Inquiries, Toll Free 1.877.355.4488