News Release

Vancouver - The British Columbia Securities Commission has reached a settlement with a B.C. man banning him from trading securities for 12 years after he admitted to illegally selling approximately $1.2 million in securities to local investors.

In a settlement agreement with the BCSC, Enrique Rempel (a.k.a. Henry Rempel) admitted to illegally distributing various investments, which included profit sharing in the production of various rock concerts, participation in an offshore bank debenture-trading program (ETP), and loans to two of his companies. He also admitted to misrepresenting the ETP to investors.

From October 2001 to March 2005, Rempel sold approximately $3.57 million in securities to about 37 investors. He sold about $1.2 million to 28 B.C. residents without filing a prospectus or proper registration under the Act. Only four people in B.C. - two couples - have received any money in return for their investment.

Rempel told investors the ETP was a low-risk investment that would provide high returns. He did not inform investors of his limited knowledge, experience, or evidence to support his claims.  Rempel also failed to disclose that he had only done limited due diligence on the ETP program or Westfalia Finance, the Spanish company he sold it through.

Under the settlement agreement, with limited exceptions, Rempel cannot buy or sell securities, act as a director or officer of any issuer, or engage in investor relations for at least 12 years. Rempel provided satisfactory financial evidence to the executive director that he is bankrupt and is unable to pay the $100,000 fine that would otherwise have been assessed in the public interest.

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, Enrique Rempel or 2007 BCSECCOM 384. If you have questions, contact Ken Gracey, Media Relations, 604-899-6577.