ASC reciprocates bans against Colby Cooper Capital Inc., Colby Cooper Inc., Pac West Minerals Limited, and John Douglas Lee Mason

CALGARY, Oct. 31, 2013 /CNW/ - The Alberta Securities Commission (ASC) has reciprocated bans imposed by the Ontario Securities Commission (OSC) against Colby Cooper Capital Inc., Colby Cooper Inc., Pac West Minerals Limited, and John Douglas Lee Mason (the Respondents).

The OSC approved an April 2013 Settlement Agreement, in which the Respondents admitted that they breached Ontario securities laws, and imposed numerous sanctions on the Respondents.

In reciprocating sanctions imposed by the OSC panel, an ASC panel ordered, among other things, that the Respondents permanently cease trading in or purchasing securities and be denied the use of all exemptions under Alberta securities laws (with limited exceptions for Mason). The Respondents are permanently prohibited from becoming or acting as a registrant, investment fund manager or promoter, and Mason is permanently prohibited from becoming or acting as a director or officer (or both) of any issuer, registrant or investment fund manager.

In its decision, the ASC panel was satisfied that, in light of the multi-jurisdictional nature of the Respondents' misconduct and their connection to Alberta, the public interest will be served by reciprocating sanctions imposed by the OSC panel.

A copy of the decision is available 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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