ASC extends Interim Cease Trade Order against Arnold Breitkreutz, Susan Way, Base Finance Ltd. and Base Mortgage & Investments Ltd.

CALGARY, Nov. 23, 2015 /CNW/ - The Alberta Securities Commission (ASC) has extended an Interim Cease Trade Order against Arnold Breitkreutz, Susan Elizabeth Way, and two companies owned by Breitkreutz, Base Finance Ltd. and Base Mortgage & Investments Ltd., after considering evidence from ASC staff suggesting that the named parties traded and distributed securities without registration, a prospectus or applicable exemptions.

The Interim Cease Trade Order is extended until any proceeding arising from ASC staff's investigation of this matter is finally determined or otherwise concluded.  The order bars all trading in securities of the companies, and bars the named parties from trading in all securities and using Alberta securities laws exemptions.

ASC staff continue their investigation into this matter. Anyone who has been contacted by someone on behalf of Breitkreutz or from one of the companies is asked to contact the ASC Public Inquiries Office at 403-355-4151 or 1‑877‑355-4488.  Investors are cautioned against sending money to any of the named parties while the Interim Cease Trade Order is in place.

On September 29, 2015, the ASC also issued an order freezing funds in a Base Finance Ltd. bank account.

On October 15, 2015, the Alberta Court of Queen's Bench issued an order appointing a receiver of the assets of Base Finance Ltd., Base Mortgage & Investments Ltd., Arnold Breitkreutz, Susan Breitkreutz, Susan Way and GP Energy Inc.  Information about the receivership proceedings can be found at http://www.extranets.bdo.ca/base/.

A copy of the Interim Cease Trade Order and Extended Interim Cease Trade Order 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

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