Cease Trade Order Issued Against CanGlobe

The Nova Scotia Securities Commission issued a temporary cease trade order today, July 14, against Canglobe International, Canglobe International Capital Inc., Canglobe Financial Group, Peter Mill and Douglas Rudolph. The order expires July 29, but could be extended.

Mr. Mill and Mr. Rudolph appear to be holding themselves out as engaging in the business of trading in securities and advising others as to the investing in or buying or selling of securities in Nova Scotia, without being registered to do so contrary to section 31(1) and 31(2) of the Securities Act.

The parties named in the order appear to be engaged in the distribution or sale of securities without having filed a prospectus or preliminary prospectus, contrary to section 58(1) of the Act.

The commission believes it is in the public interest to make the order, and that the length of time required to conclude a hearing could be prejudicial to the public interest.

The order directs the listed parties to comply with or cease contravening Nova Scotia securities laws, and to cease trading in the securities of Canglobe International, Canglobe International Capital Inc. and Canglobe Financial Group, directly or indirectly.

The Nova Scotia Securities Commission is the provincial government agency responsible for regulating trading in securities within the province. A copy of the cease trade order may be found online at http://www.gov.ns.ca/nssc/compliancenforce/enforproceedings.asp