News Release

Vancouver - A Kelowna man who sold and exchanged securities for life insurance policies and other companies' securities has been ordered out of the securities market and must pay $100,000 to the British Columbia Securities Commission for violating securities laws.

Cameron Kuipers, of Kelowna, cannot trade securities for at least 16 years except in limited circumstances. He cannot be a director or officer of any company nor can he engage in any investor relations activities for 16 years.

Kuipers is the president, director and sole owner of Ultimate Ventures Inc., a Kelowna-based company, and Trivera Investments Inc., headquartered in Vancouver. The two companies were in the business of purchasing life insurance policies from elderly and terminally ill people for a percentage of their face values and to assume the obligation to pay the premiums on them. Profits were to come from the expectation that the policy sellers would die before the cost of paying the premiums exceeded the discount at which the policies had been purchased.

In a settlement with the BCSC, Kuipers admitted that he and his two companies distributed securities without registration or prospectus exemptions under the Securities Act and illegally raised about $4.2-million (Cdn) from investors in B.C., Ontario, Alberta, the United States and elsewhere.

Between Nov. 27, 2001 and March 11, 2003, Ultimate and Kuipers raised about $2.7-million (Cdn) from 47 investors through the illegal sale of Ultimate securities. From April 12, 2002 to March 3, 2003, Ultimate and Kuipers raised about $1.1-million (U.S.) from 20 U.S. investors. Ultimate and Kuipers illegally exchanged Ultimate securities with investors for life insurance policies and other companies' securities.

Between Jan. 1, 2001 and March 17, 2003, Trivera and Kuipers illegally raised about $276, 214 (Cdn) from 11 investors mostly from B.C.

In the settlement, Kuipers admitted that he, Trivera and Ultimate ignored cease-trade orders issued by the BCSC on Dec. 18 and 19, 2002 in issuing some of the Trivera and Ultimate securities.

Kuipers also admitted to violating securities laws by acting as an advisor without registration.

Kuipers made misrepresentations about the investment in Ultimate securities, including the use of investors' funds as did Ultimate and Trivera.

As part of the settlement, the two companies have also been ordered out of trading in the securities market for 16 years.

The B.C. Securities Commission is the independent provincial government agency responsible for regulating trading in securities within the province. You may view the settlement on our website www.bcsc.bc.ca by typing in the search box, Ultimate Ventures Inc., Trivera Investments Inc. or Cameron Kuipers  or 2006 BCSECCOM 696. If you have questions, contact Andrew Poon, Media Relations, 604-899-6880.