ASC alleges fraud against John Rogers, Robert Keenan and Charles (Chad) Mitchell related to Rogers Oil & Gas and Rogers Gold

CALGARY, April 10, 2012 /CNW/ - The Alberta Securities Commission (ASC) has issued a Notice of Hearing alleging that John Dale Rogers, Robert Harold Keenan, Charles (Chad) Mitchell, Brian R. Kirkham, Rogers Oil & Gas Inc. and Rogers Gold Corp. breached Alberta securities laws by misleading investors and illegally distributing securities in Rogers Oil & Gas and Rogers Gold.  ASC staff also allege that Rogers, Keenan and Mitchell perpetrated a fraud on investors.

ASC staff allege that between September 2009 and March 2011, Rogers Oil & Gas and Rogers Gold sold securities using offering memoranda that contained significant deficiencies, including critical omissions and statements that were materially misleading or untrue. ASC staff also allege Rogers, Keenan, Mitchell and Kirkham each signed certificates stating that the offering memoranda in question did not contain any misrepresentations, thereby misleading investors.  Rogers and Keenan are alleged to have further misled investors by using a sales brochure that contained misrepresentations about Rogers Oil & Gas and its securities.

In addition, Rogers, Keenan and Mitchell are alleged to have perpetrated a fraud on Rogers Oil & Gas investors by misleading investors about the true nature of the Rogers Oil & Gas securities, and by funneling money out of the companies for their own benefit, to the detriment of those investors.

An appearance to set a date for hearing in Calgary will be held on May 9, 2012 at 2:30 p.m. in the ASC Hearing Room, 5th floor, 250 - 5th Street SW, Calgary, Alberta.

A copy of the Notice of Hearing is available 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 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: 
Mark Dickey
Senior Communications Advisor
403-297-4481

For Investor Inquiries: 
ASC Public Inquiries
Toll Free 1-877-355-4488