REGINAN FACES LARGE FINE AND LIFETIME TRADING BAN

Released on February 8, 2000

The Saskatchewan Securities Commission today imposed the maximum penalties

allowed under The Securities Act, 1988 against Kent Owens, of Regina.



Owens was the directing mind behind the Platinum group of companies - a group

set up to raise investment dollars primarily from Saskatchewan residents.



The Commission ordered that Owens pay a $100,000 administrative penalty and

investigation costs of $10,000. The Commission also imposed a lifetime trading

ban on Owens.



He agreed to the penalties in an Agreement and Undertaking he signed on

February 4, just days before a Commission hearing scheduled for February 8. At

the hearing the Commission was to hear evidence obtained during an 18 month

investigation by Commission staff. In the agreement Owens also acknowledged

that:



During the years of 1997, 1998 and 1999 he raised more than $7 million

in Saskatchewan by trading in the securities of Regis Platinum Limited

Partnership, Platinum Equities Corporation or companies called

Platinum, Platinum Group, Platinum Gold, Platinum Financial, Platinum

Group Investments, Platinum Financial Group, Platinum Diversified

Partnership Inc., Platinum Equities Corporation, Regis Platinum Limited

Partnership, 6224492 Saskatchewan Ltd., 492529 B.C. Ltd. (The "Platinum

Companies") with investors, mainly Saskatchewan residents.



He placed the money raised from investors into ventures such as a

software company and real estate projects in the United States and

British Columbia. In addition, he placed money into 624492

Saskatchewan Ltd., which he controlled.



The investors have not received and will not receive any income from

their investment, nor is it likely that the capital they invested will

be returned to them.



During the years 1997, 1998 and 1999 neither he nor the Platinum

Companies or any of his representatives were registered to trade in

securities under The Securities Act, 1988, (the "Act"). They also did

not receive a receipt for a prospectus to trade in the securities of

any of the Platinum Companies.



During the same period he did not meet the requirements of any

statutory exemptions under the Act to allow him to trade in the

securities of the Platinum Companies without complying with the

registration and prospectus requirements of the Act.



He traded in the securities of the Platinum Companies in contravention

of the Act.



He continued to trade securities in contravention of an order dated

October 21, 1998 in which the Commission ordered that Owens and others

cease trading in securities while the Commission staff conducted an

investigation into their money raising activities.



In addition to the penalties mentioned, Owens may not act as a director or

officer of any issuer of securities or registrant for his lifetime. He must

resign any such position he presently holds. He also may not be employed by

any issuer or registrant whose primary business is the trading of securities.



In a related matter, the same restrictions have been imposed on Janice Grandel

for a five year period.



-30-



For more information, contact:



Vic Pankratz

Deputy Director, Enforcement

Saskatchewan Securities Commission

Regina

Phone: (306) 787-5850