ASC alleges Jonathan Financial Inc. and Gregory Frederick Hilderman breached Alberta securities laws

CALGARY, July 19, 2016 /CNW/ - Alberta Securities Commission (ASC) staff have issued a Notice of Hearing against Jonathan Financial Inc. and Gregory Frederick Hilderman in connection with the sale of Jonathan Financial debentures.

ASC staff allege that Jonathan Financial and Hilderman made misleading or untrue statements to investors regarding the debentures. The misrepresentations related to the total amount Jonathan Financial would raise through the debenture distribution and the filing of security documents with the appropriate government registry.  

ASC staff further allege that Jonathan Financial breached the requirement to file reports of exempt distribution when selling the debentures and that Hilderman permitted this breach to occur.  

The allegations have not been proven.

An appearance to set a date for a hearing will be held on September 14, 2016 at 1 p.m. in the ASC Hearing Room on the 5th floor, 250 – 5 Street S.W., Calgary, Alberta.

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 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