ASC alleges Grande Prairie's Robert Major and Gary Clement breached Alberta securities laws

CALGARY, Aug. 31, 2015 /CNW/ - Alberta Securities Commission staff issued a Notice of Hearing today alleging Robert Jay Major, his numbered company – 1429250 Alberta Ltd. – and Gary Mattison Clements, helped raise millions of dollars for Discovery Bay Games Inc. without proper registration and without a prospectus or exemption. ASC staff also allege that Major and Clements made misleading or untrue statements to investors regarding the risk level and safety of the Discovery Bay securities, and failed to fully disclose the financial condition of the company.

These allegations have not been proven.

An appearance to set a date for a hearing will be held on Thursday, October 1, 2015 at 1:30 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 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