Released on December 17, 2009
A temporary cease trade order issued November 2, 2009, against Alena Marie Pastuch, Teamworx Productions Ltd., Idendego Inc., 101114386 Saskatchewan Ltd., and 101115379 Saskatchewan Ltd., has been extended to March 3, 2010.
The order, issued by the Saskatchewan Financial Services Commission (SFSC), directs Pastuch and the companies to cease trading in securities and exchange contracts in Saskatchewan. The order also removes their right to use exemptions under Saskatchewan securities laws.
Pastuch has been selling shares of the companies, and has obtained investment funding from several sources in Saskatchewan, Alberta and elsewhere. Pastuch and these companies have failed to comply with the registration and prospectus requirements under Saskatchewan securities law.
"Recent press releases indicate that Pastuch and Idendego have offices in Los Angeles and Calgary," SFSC'S Enforcement Branch Deputy Director Ed Rodonets said. "We are continuing to investigate this matter, and have received calls from individuals in the U.S. about investing with Pastuch and the companies. As a result, we are now in contact with U.S. authorities and other Canadian securities regulators, including Alberta, to determine the full scope of this illegal distribution."
Anyone who has been contacted by Pastuch or any of the named companies' representatives is 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