Released on June 25, 2008
Energy and Resources Minister Bill Boyd today warned the public about an alleged investment opportunity known as "Crown Revenue Distributions" or "CRDs" being promoted through an Internet newsletter called Wealth Daily.
The June 21st edition of Wealth Daily advertises tremendous potential investment earnings through "a revolutionary profit-sharing program in the Province of Saskatchewan that forces the oil companies to share 90 per cent of their surging wealth with you."
"I want to state as clearly as I can CRDs are not a program of the Government of Saskatchewan," Boyd said. "They are not government-authorized as Wealth Daily claims. They are neither sanctioned nor endorsed by the Government of Saskatchewan. The information presented through Wealth Daily on June 21 is inaccurate in some places and completely misleading in others. It should not be mistaken for a government program. It is not."
The Ministry of Justice has been asked to review the document and assess the legality of the representations it makes. In the interim, investors are asked to be mindful of the old adage - buyer beware.
"Saskatchewan offers an abundance of good investment opportunities," Boyd said. "Crown Revenue Distributions or CRDs is not one of them."
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For more information, contact:
Roy Schneider
Energy and Resources
Regina
Phone: 306-787-9694
Email: rschneider@ir.gov.sk.ca