ASC alleges illegal insider trading against Lenko

CALGARY, March 18 /CNW/ - The Alberta Securities Commission (ASC) has issued a Notice of Hearing against Charles Alexander Mark Lenko and his company, Kylskap Creek Holdings Ltd., alleging that in early 2009 they engaged in illegal insider trading in shares of Calgary-based energy company, Profound Energy Inc.

ASC staff allege that Lenko and Kylskap Creek Holdings were in a special relationship with Profound Energy and were in possession of information not publicly disclosed at the time Kylskap Creek Holdings traded Profound Energy shares in February 2009. ASC staff are seeking various sanctions against Lenko and Kylskap Creek Holdings including trading bans and administrative penalties.

A copy of the Notice of Hearing is available on the ASC website at www.albertasecurities.com.

An appearance to set a date for hearing in Calgary will held on May 12, 2009, at 2 p.m. in the ASC Hearing Room, 6th Floor, 300 -5th Avenue 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 further information: For Media Inquiries: Tamera Van Brunt, Director, Communications & Investor Education, [phone]; For Investor Inquiries: ASC Public Inquiries, Toll Free 1-877-355-4488