ASC discontinues current Lavallee proceedings

CALGARY, Aug. 19 /CNW/ - The Alberta Securities Commission (ASC) has filed a Notice of Discontinuance and withdrawn its allegations in an October 12, 2007 ASC Notice of Hearing that named Lambert Joseph Lavallee as a respondent. This action does not affect the sanctions imposed by the ASC in February 2008 in Re Lavallee, 2008 ABASC 78.

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: Mark Dickey, Senior Communications Advisor, 403.297.4481; For Investor Inquiries: ASC Public Inquiries, Toll Free 1.877.355.4488