News Release

Vancouver – A B.C. Securities Commission hearing panel directed the Executive Director to renew the registrations of a Vancouver-based securities adviser and its advising director and officer, Gary Hamill.

Pan Geo has been registered as a securities adviser in British Columbia since Feb. 16, 2001. Under the registration, Pan Geo and Hamill could give securities advice provided the advice was not tailored to the needs of specific clients.

Pan Geo has also been registered in the United States as an investment adviser with the U.S. Securities and Exchange Commission since April 11, 2000. In the United States, this category of registration permits Pan Geo to provide advice custom-tailored to meet the needs of clients.

The Executive Director refused to renew Pan Geo’s registration because he considered that Pan Geo was acting outside the scope of its registration by offering securities advice tailored to the needs of specific clients who are U.S. residents.

The commission confirmed that since Pan Geo was a Vancouver-based securities adviser, it was restricted by its B.C. registration from providing any securities advice tailored to meet the needs of specific clients in B.C. and other jurisdictions, including the U.S.

However, the commission was satisfied, based on Pan Geo’s U.S. registration, that the public interest would not be prejudiced if Pan Geo offers custom tailored advice to clients who are U.S. residents. As a result, the commission exempted Pan Geo from registration under the Act where it is advising U.S. residents, on the condition that Pan Geo continues to be registered as an investment adviser with the U.S. Securities and Exchange Commission.

The B.C. Securities Commission is the independent provincial government agency responsible for regulating trading in securities and exchange contracts within British Columbia. This decision is posted at www.bcsc.bc.ca or can be obtained by contacting Media Relations Officer Andrew Poon.