ASC alleges illegal distributions and fraud against Edmonton's Ronald Cloutier and companies

CALGARY, May 25, 2012 /CNW/ - Alberta Securities Commission (ASC) staff have issued a Notice of Hearing alleging that Edmonton businessman Ronald Theodore Cloutier and his companies Venture Contractors Ltd., Viva Communications Ltd., Sunterra Resource Audit Equipment Ltd., and Sunterra Seismic Inc. illegally traded and distributed securities, made prohibited representations and misrepresentations to investors, and engaged in a course of conduct that perpetrated a fraud on investors.

Cloutier and his companies are currently subject to an interim cease trade order issued by the ASC in August 2011.  The order prohibits all trading in any securities of the named parties, and prohibits the parties from trading in any securities or using any Alberta securities laws exemptions.

An appearance before the ASC to set a date for the hearing regarding these allegations is scheduled for July 11, 2012 at 3:30 p.m.

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 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