ASC reaches settlement agreement with former Rogers Gold President Brian R. Kirkham

CALGARY, Sept. 19, 2013 /CNW/ - The Alberta Securities Commission (ASC) has concluded a settlement agreement with former Rogers Gold Corp. President Brian Kirkham relating to allegations of illegal distributions and misrepresentations by Rogers Gold.

Under the Settlement Agreement, Kirkham paid $25,000 to the ASC, including $5,000 in costs, and agreed not to trade or purchase securities or act as a director and officer of any issuer for seven years.

In the Settlement Agreement, Kirkham admits that the Offering Memoranda used by Rogers Gold to sell securities contained material omissions that could prevent a prospective investor from making an informed investment decision.

The Settlement states that Kirkham was largely uninvolved in the preparation of the Offering Memoranda, relied extensively on the apparent expertise, and submitted to the authority, of others.  The agreement further states that Kirkham was unaware of the inaccuracies in the Offering Memoranda and believed the document was compliant with Alberta securities laws.

A copy of the Settlement Agreement and 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 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

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