ASC alleges Edmonton businessmen illegally traded securities

CALGARY, Feb. 23, 2012 /CNW/ - The Alberta Securities Commission (ASC) has issued a Notice of Hearing alleging that Dedric Joseph Robinson, Libertygate Investment Corp., D. Robinson & Associates Inc., Allan Dwayne Holomey and A.D.H. Stealth Investments Inc. breached Alberta securities laws by illegally trading and distributing securities in Alberta.

ASC staff also allege that Robinson and his companies, Libertygate Investment and D. Robinson & Associates, failed to file reports with the ASC disclosing exempt distributions to investors.  ASC staff allege that between April 2005 and July 2008, Libertygate Investment and D. Robinson & Associates raised approximately $4.8 million from at least 96 investors, 88 of whom were Alberta investors.  Of this sum, Holomey and his company A.D.H. Stealth Investments, are alleged to have raised approximately $1.5 million on behalf of Libertygate.

An appearance to set a date for a hearing will be held on April 11, 2012 at 2 p.m. in the ASC Hearing Room, 5^th Floor, 250 - 5^th Street SW, Calgary, Alberta.

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

For Media Inquiries: Lorinda Brinton
Senior Communications Advisor
403.297.2665

For Investor Inquiries: ASC Public Inquiries
Toll Free 1.877.355.4488