CALGARY, April 30, 2015 /CNW/ - The Alberta Securities Commission (ASC) has revoked its cease trade order against Crossroads-DMD Mortgage Investment Corporation (Crossroads).
The cease trade order was issued in September 2013 after ASC staff determined that Crossroads' offering memorandum dated May 30, 2013 and certain reports of exempt distributions were not completed in accordance with Alberta securities laws.
The cease trade order was varied in October 2014 to permit redemptions by Crossroads' class B preferred shareholders, except by insiders, to the extent permitted by Crossroads' articles and the Business Corporations Act (Alberta).
The ASC revoked the cease trade order after determining that Crossroads has addressed all identified issues to the satisfaction of ASC staff.
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