CBRP - Cambridge Resources Releases Statement Regarding the Ontario Securities Commissions Temporary Order, Notice and Hearing
May 25, 2007 2:05:00 PM
NEW YORK, NY -- (MARKET WIRE) -- 05/25/07 -- Cambridge Resources Corporation (PINKSHEETS: CBRP) (FRANKFURT: M3F) released a statement today pertaining to a recent notice by the Ontario Securities Commission, which refers to the company's former transfer agent, Select American Transfer.
The Ontario Securities Commission issued a temporary order under section 127(1) and (5) of the Ontario Securities Commission, whereby the temporary order enforces a stop trading order to the following individuals and companies: Jason Wong, David Watson, Nathan Rogers, Amy Giles, John Sparrow, Kervin Findley, Leasesmart, Advance Growing Systems, Pharm Control, The Bighub, Universal Seismic, Pocketop, Asia Telecom, International Energy, Cambridge Resources, NutriOne Corporation and Select American Transfer.
Cambridge Resources, its Officers, Directors and Affiliates have not received notice by the Ontario Securities Commission nor any other authorities and are not and have not been involved in any of the alleged activities. In addition, Cambridge Resources has changed its transfer agent to Fairross Stock Transfer Company and has fully audited the records held with Fairross Stock Transfer and said audit was satisfactory.
Cambridge Resources, its Officers, Directors and Affiliates will cooperate fully with the investigation and hearing of the Ontario Securities Commission.
The closing of the financing may be delayed until conclusion of the investigation and hearing of the Ontario Securities Commission.
Important Information About Forward-Looking Statements
All statements in this news release that are other than statements of historical facts are forward-looking statements, which contain our current expectations about our future results. Forward-looking statements involve numerous risks and uncertainties. We have attempted to identify any forward-looking statements by using words such as "anticipates," "believes," "could," "expects," "intends," "may," "should" and other similar expressions. Although we believe that the expectations reflected in all of our forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct. A number of factors may affect our future results and may cause those results to differ materially from those indicated in any forward-looking statements made by us or on our behalf. Such factors include our limited operating history; our need for significant capital to finance internal growth as well as strategic acquisitions; our ability to attract and retain key employees and strategic partners; our ability to achieve and maintain profitability; fluctuations in the trading price and volume of our stock; competition from other providers of similar products and services; and other unanticipated future events and conditions.
Contact:
Alex Barta
Investor Relations
514-991-2272
abarta@cambridgeresourcescorp.com
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