The Alberta Court of Appeal has upheld Alberta Securities Commission (ASC) decisions and sanctions against Toronto businessman Al Grossman and Maitland Capital Ltd. related to illegal trades and distributions of Petroleum Unlimited securities, the ASC said Thursday. In June 2007, an ASC panel found that between September 2004 and January 2006, Grossman and other Maitland […]
Claymore Investments, Inc. is changing its automatic dividend reinvestment plan, the provider of exchange-traded funds said Thursday.The Auto DRIP was established on January 28.In an effort to accommodate the requirements of a select number of CDS participants, Claymore will remove the “automatic” enrolment feature of the Auto DRIP such that unitholders of the ETFs who […]
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Mavrix Fund Management Inc. has retained legal and financial advisors to assist it in connection with the proposed offer from GrowthWorks Ltd., Mavrix said Wednesday.Growthworks, through a wholly-owned subsidiary, has offered to acquire all of the outstanding common shares of Mavrix at a price of 25¢ a share.Earlier this month, Mavrix announced it has entered […]
The Alberta Securities Commission (ASC) has concluded a settlement with Petroleum Unlimited, LLC, and Ohio-resident Roger A. Kimmel Jr. regarding allegations that they did not follow registration and prospectus requirements as required under Alberta securities laws and failed to comply with a July 3, 2008 ASC Interim Cease Trade Order.Kimmel paid $20,000 to settle the […]