News Release

Vancouver – The executive director of the British Columbia Securities Commission has partially suspended the registration of B.C.-based SFCS Capital (Canada) Corp. in light of an apparent corporate governance dispute and capital requirement issue.

The executive director also issued a notice of hearing against the company and one of its directors, Robert John Alexander Stitt, relating to failures to meet compliance requirements.

Stitt, a B.C. resident, is registered with the BCSC as an advising representative, director, officer, and chief compliance officer of SFCS, the investment fund manager for the investment fund SFCS Titans Limited Partnership.

The notice of hearing states that SFCS may not be in compliance with its minimum capital requirements, and that its corporate governance and compliance structure appear to be in dispute.

The executive director will ask a commission panel to extend the temporary order until the apparent dispute is resolved and the commission is satisfied that SFCS is not capital deficient.  In the meantime, the registration of SFCS is suspended, except that SFCS may continue to accept and process redemption orders from existing clients.

The temporary order extension hearing will be held on April 1, 2011 at 10:00 a.m. A date will also be set for a hearing of the facts and allegations relating to the compliance failures. These allegations have not been proven.

The B.C. Securities Commission is the independent provincial government agency responsible for regulating trading in securities within the province. You may view the notice of hearing on our website, www.bcsc.bc.ca. If you have questions, contact Richard Gilhooley, media relations, 604-899-6713.