Language

Google Translate Disclaimer

A number of pages on the Government of Saskatchewan's website have been professionally translated in French. These translations are identified by a yellow box in the right or left rail that resembles the link below. The home page for French-language content on this site can be found at:

Renseignements en Français

Where an official translation is not available, Google™ Translate can be used. Google™ Translate is a free online language translation service that can translate text and web pages into different languages. Translations are made available to increase access to Government of Saskatchewan content for populations whose first language is not English.

Software-based translations do not approach the fluency of a native speaker or possess the skill of a professional translator. The translation should not be considered exact, and may include incorrect or offensive language. The Government of Saskatchewan does not warrant the accuracy, reliability or timeliness of any information translated by this system. Some files or items cannot be translated, including graphs, photos and other file formats such as portable document formats (PDFs).

Any person or entities that rely on information obtained from the system does so at his or her own risk. Government of Saskatchewan is not responsible for any damage or issues that may possibly result from using translated website content. If you have any questions about Google™ Translate, please visit: Google™ Translate FAQs.

CEASE TRADE ORDER EXTENDED AGAINST SIERRA MADRE HOLDINGS, L&B LANDBANKING TRUST AND THEIR OFFICERS

Released on April 1, 2008

The Saskatchewan Financial Services Commission (SFSC) has extended a temporary cease trade order issued March 13, 2008, against Sierra Madre MX, S.A. de C.V. and its representatives.

The order directs Sierra Madre MX, S.A. de C.V. and its representatives to cease trading in securities and exchange contracts, and removes their right to use exemptions in Saskatchewan securities laws.

Named are Sierra Madre, its partner companies; Brian J. Wolf Zacarias, the senior officer and major owner of Sierra Madre; Roger Ayuso, the president of Landbankers International; Alan Hemingway, CEO of Sierra Madre; and sales representatives Jason Rogers, Dave Urrutia, and Ed and Kim Moore, all of whom are based in Puerto Vallarta, Mexico.

They have been offering investment opportunities in shares of their companies to individuals in Saskatchewan, other provinces in Canada and several U.S. states. They have failed to comply with the registration and prospectus requirements under Saskatchewan securities law.

Correspondence to investors from the company says, "We did not register in Canada. Even though we did not intend to conduct business in Canada, we inadvertently and with no malicious intent, may have made some mistakes."

"We are aware that the majority of over 1400 investors appear to be from Canada," SFSC's Enforcement Branch deputy director Ed Rodonets said. "They go on in the same document to offer further investment opportunities with their ‘new company' Sierra Madre Holdings MX. This is the same company operated by the same people, and is one of many name changes that this company and this group has done over the past number of years."

Any Saskatchewan residents who may have been contacted by Sierra Madre or any of its representatives are asked to contact the Saskatchewan Financial Services Commission, Enforcement branch at 306-787-5936.

The complete decision is available at the Commission web site at www.sfsc.gov.sk.ca.

-30-

For more information, contact:

Ed Rodonets
Saskatchewan Financial Services Commission
Regina
Phone: 306-787-5850

We need your feedback to improve saskatchewan.ca. Help us improve