ASC settles with Calgary land developer

CALGARY, Nov. 21, 2012 /CNW/ - The Alberta Securities Commission (ASC) has concluded a settlement with Sundre Development Ltd., Aspen Springs Capital Group Inc. and their principal William Joseph Sander, a.k.a. "Bill Sander".

Under the Settlement Agreement, Sander agreed to pay the ASC $40,000 in settlement plus $11,000 in costs and undertook to cease acting as a director or officer of any issuer for eight years.  Sander also undertook to cease trading in or purchasing securities and to not use any exemptions contained in Alberta securities laws for eight years.  Sundre Development and Aspen Springs Capital Group undertook to cease trading in or purchasing securities and to not use any Alberta securities laws exemptions for a period of one year.

In the Settlement Agreement, Sander, Sundre Development and Aspen Springs Capital Group admitted to an illegal distribution and making misrepresentations to Alberta investors, and Sundre Development admitted to filing misleading documents with the ASC.

A copy of the Settlement Agreement 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:
Mark Dickey
Senior Communications Advisor
403.297.4481

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