CALGARY, Jan. 23, 2013 /CNW/ - Alberta Securities Commission (ASC) staff have concluded a settlement with Errin Keith Kimball. Under the Settlement Agreement, Kimball paid the ASC $25,000 plus $5,000 in costs and agreed to cease acting as a director or officer of any issuer for five years, starting on February 28, 2013.  Kimball will also cease trading in or purchasing securities and not use any Alberta securities laws exemptions until January 22, 2018.

In the Settlement Agreement, Kimball admitted to illegally distributing $335,000 of Western Canadian Oil Sands Inc. securities to six Alberta residents, and to making a misrepresentation that affected one investor's decision to purchase $2 million of Western Canadian Oil Sands securities.

A copy of the Settlement Agreement can be found on the ASC website at www.albertasecurities.com.

The ASC is the regulatory agency responsible for administering the province's securities laws. It is entrusted to foster a fair and efficient capital market in Alberta and to protect investors.  As a member of the Canadian Securities Administrators, the ASC works to improve, coordinate and harmonize the regulation of Canada's capital markets.

SOURCE Alberta Securities Commission