ASC lays 23 charges in Provincial Court against Donald Addison Nason

CALGARY, April 18, 2013 /CNW/ - The Alberta Securities Commission (ASC) has charged Donald Addison Nason in the Provincial Court of Alberta for engaging in illegal distributions, breaching a cease trade order, failing to attend to be questioned, and making numerous misleading or untrue statements to investors, including that:

• Locate Technologies securities would be listed on an exchange;

• Locate Technologies securities would trade at a specific price;

• investors' funds were secure; and

• Locate Technologies would refund investors' money.

Nason faces a total of 23 charges.  His first appearance is scheduled for 8:15 a.m. on May 29, 2013 in Edmonton.

A copy of a June 2012 decision permanently prohibiting all trading in Locate Technologies securities and also prohibiting using any Alberta securities laws exemptions 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 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.

SOURCE: Alberta Securities Commission

For Media Inquiries:
Lorinda Brinton
Senior Communications Advisor
403.297.2665

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ASC Public Inquiries
Toll Free 1.877.355.4488