CALGARY, Jan. 28, 2015 /CNW/ - The Alberta Securities Commission (ASC) has issued an order dated January 27, 2015 granting a partial variation of an ASC cease trade order against Cambrian Strathcona Trust (Issuer). Subject to certain conditions, the partial revocation order permits the following:
- other than Issuer insiders, redemptions by holders of trust units (Unitholders) of the Issuer to the extent permitted by the deed of trust dated September 26, 2009 (Trust Deed);
- other than Issuer insiders, transfers between an individual Unitholder and his or her RRSP account;
- other than Issuer insiders, transfers from a Unitholder to an accredited investor pursuant to the prospectus exemption in section 2.3 of National Instrument 45-106 Prospectus and Registration Exemptions; and
- redemptions of trust units upon the sale or disposal of the Issuer's real estate holdings and distribution of profits in accordance with the Trust Deed.
Other than as specifically permitted by the partial variation order, the original cease trade order issued on January 13, 2012 remains in effect.
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