The Alberta Securities Commission has found that George Amyotte of Edmonton and Atlas Communications Inc. contravened the Alberta Securities Act by engaging in an illegal distribution of Atlas’ shares.

An ASC panel also found that Amyotte made a prohibited representation and misrepresentations to investors in the course of the illegal distribution.

In its decision, the panel concluded that the manner of the distribution of Atlas’ shares “denied investors the fundamental protections afforded by Alberta securities laws.” The panel also stated that “Amyotte’s misrepresentations and prohibited representation exposed investors to unreliable and deceptive information material to their investment decisions.”

A hearing date to consider the issue of sanctions against Amyotte and Atlas will be scheduled at a later time.