The Alberta Securities Commission (ASC) has issued an interim cease trade order against Saxon Financial Services Ltd., Saxon Consultants, Ltd., Merchant Capital Markets S.A., Meisner Inc. S.A. and Meisner Inc. These companies have also been carrying on business as Merchantmarx and Meisner Corp.

Saxon Financial Services Ltd. is not connected to Saxon Financial Inc. (SFI), a TSX traded financial management company with a similar name.

The interim cease trade order is in effect for 15 days and prohibits the companies listed above from trading in any securities or exchange contracts, disseminating any information or advice to the public relating to investing, buying or selling securities, and denies them all exemptions contained in the Alberta securities laws. The ASC issued the interim cease trade order after hearing evidence from ASC staff that the named companies had sold securities without registration.

A similar trading ban has also been issued in New Brunswick, Ontario and Saskatchewan.

The next appearance in this proceeding has been scheduled for August 16 in Calgary.