News Release

Vancouver - The Executive Directorof the British Columbia Securities Commission has issued a notice of hearing allegingthat Stanley Steven Ross violated section 34 of the Securities Act and that Edward Bernard Johnson violated sections 168.1 of the Securities Act, IDA By-Law No. 29.1, and IDA Regulation 1300.1(b).

Stanley Steven Ross is the sole director of, officer, and owner of Fortune Capital Management Inc., a British Columbia company.  Ross was registered under the Act to trade securities in British Columbia from 1984 to 1997.  Johnson is a registered representative with Golden Capital Securities Limited in Vancouver, British Columbia.

The notice of hearing says that the Executive Director issued an order on July 19, 1999 against Ross, which was in effect until July 19, 2006.  The Order stated that under section 161(1)(c)of the Act, the exemptions set out in that paragraph of the Order did not apply to Ross for seven years, except for an 18-month period to allow him to dispose, under certain conditions, of securities he then held.

Between 2000 and 2004, the notice alleges that Ross traded in securities in accounts held in his name and Fortune’s name at a securities dealer in Ontario; and in the name of a third party (the Nominee) at securities dealers in British Columbia (the Nominee Accounts).  It also alleges that Johnson allowed Ross to trade in one of the Nominee Accounts and that Johnson made false statements while being interviewed by Commission investigators.

These allegations have not been proven. Counsel for the Executive Director will apply to set dates for a hearing into the allegations before a panel of commissioners.

The B.C. Securities Commission is the independent provincial government agency responsible for regulating trading in securities within the province. You may view notices of hearings on our website www.bcsc.bc.ca. If you have questions, contact Andrew Poon, Media Relations, 604-899-6880.