ASC seeks ban against Ontario-based GDC Investments Inc.

CALGARY, Oct. 12 /CNW/ - The Alberta Securities Commission (ASC) is seeking to reciprocate orders imposed by the British Columbia Securities Commission (BCSC) against GDC Investments Inc.

On August 31, 2010, the BCSC ordered that GDC Investments cease trading until it files an amended and updated offering memorandum and the Executive Director of the BCSC revokes the order. The BCSC found that GDC Investments distributed securities using an offering memorandum that was not completed in accordance with the British Columbia Securities Act.

GDC Investments Inc. relied upon the same offering memorandum to distribute securities in Alberta. The ASC seeks reciprocation of the BCSC order to protect Alberta investors and the Alberta capital market.

It is anticipated that the ASC panel will consider this application in November 2010.

A copy of the Notice of Hearing 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.

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