CALGARY, July 11, 2014 /CNW/ - Alberta Securities Commission (ASC) staff have issued a Notice of Hearing alleging that Atlantic Tides Incorporated and its principal, Douglas Gordon Campbell, engaged in the illegal distribution of Atlantic Tides Incorporated securities and made misrepresentations about the risk of the investment.
Staff also allege that Atlantic Tides Mortgage Investment Corporation, an affiliated company controlled by Campbell, made misrepresentations related to the use and security of approximately $1.3 million of investors' funds.
The allegations have not been proven.
An appearance to set a date for a hearing will be held on Wednesday, August 13, 2014 at 2 p.m. in the ASC Hearing Room, 5th Floor, 250 - 5th Street SW, Calgary, Alberta.
The ASC is the regulatory agency responsible for administering the province's securities laws. It is entrusted with fostering a fair and efficient capital market in Alberta and with protecting 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