ASC extends cease trade order against Aspen Springs Capital Group, Sundre
Development and William Joseph Sander

CALGARY, Aug. 5 /CNW/ - The Alberta Securities Commission (ASC) has extended an Interim Cease Trade Order against Calgary-based Aspen Springs Capital Group Inc., Sundre Development Ltd. (also known as Aspen Springs Lake Resort) and William Joseph Sander until February 4, 2011.

The Interim Cease Trade Order prohibits all trading in or purchasing of Aspen Springs Capital and Sundre Development securities and any trading in securities or use of Alberta securities laws exemptions by Aspen Springs Capital, Sundre Development and Sander.

An ASC panel extended the Interim Cease Trade Order after hearing ASC staff evidence that Aspen Springs Capital, Sundre Development and Sander made prohibited representations and have engaged in or are engaging in illegal trading and distribution of Sundre Development securities.

ASC staff continue their investigation into this matter. Anyone who has information about Sundre Development, Aspen Springs Capital, Aspen Springs Lake Resort or William Sander's involvement in Aspen Springs Capital or Sundre Development is asked to contact the ASC Public Inquiries Office at 403-355-4151 or 1-877-355-4488. Investors are cautioned against sending money for securities or investment purposes to either Aspen Springs Capital or Sundre Development while the Interim Cease Trade Order is in effect.

Copies of the Extended Interim Cease Trade Order, Interim Cease Trade Order and Notice of Hearing related to this case can be found 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 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