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Released on July 16, 2010
Saskatchewan Financial Services Commission issued a Temporary Cease Trade Order on July 15, 2010, against two Calgary based companies, Pure Water Box Corp. and Pure Water Box Canada Capital Corp. ("Pure Water Box") as well as company director Ryan Mitchell from Richmond Hill, Ontario and Regina businessman Randy Shoeman. The order expires on July 30, 2010, and may be extended.
The order directs Pure Water Box, Mitchell and Shoeman to cease trading, acquiring, and advising in securities and exchange contracts and removes the ability to use any exemptions in Saskatchewan.
The Securities Division has information that representatives of Pure Water Box, including Mitchell and Shoeman, had met with several Saskatchewan residents and were promoting and trading securities relating to Pure Water Box through seminars and face to face meetings. Neither Mitchell or Shoeman nor Pure Water Box are registered in Saskatchewan to trade or give advice about securities.
The Temporary Cease Trade Order also indicates that a prospectus receipt was not issued to the company and that representatives made representations that the company would trade on an exchange in the future which are both violations of The Securities Act, 1988.
"This company appears to be operating illegally in Saskatchewan and investors in other provinces may have been solicited as well," Deputy Director of the Securities Division Ed Rodonets said. "We are in contact with the other Securities Regulators across Canada, and they are being made aware of our actions and concerns here in Saskatchewan."
Anyone contacted by Pure Water Box, Mitchell, Shoeman, or any other representative of any of the named companies, should contact the Saskatchewan Financial Services Commission, Securities Division at 1-306-787-5645.
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For more information, contact:
Ed Rodonets
Saskatchewan Financial Services Commission
Regina
Phone: 306-787-5850
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