Global 8 Environmental Technologies Inc.(fka GBLE)

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ASC CEASE TRADES GLOBAL 8 ENVIRONMENTAL TECHNOLOGIES, INC.
7/31/2009 11:24 AM - Canada NewsWire

CALGARY, Jul 31, 2009 (Canada NewsWire via COMTEX News Network) --
The Alberta Securities Commission (ASC) has issued an Interim Cease Trade Order against Global 8 Environmental Technologies, Inc. based on ASC staff allegations that Global 8 engaged in an illegal distribution of Global 8 securities and failed to meet mandatory deadlines for filing its exempt distribution reports.

The Interim Cease Trade Order is in effect for 15 days and prohibits Global 8 from trading in any securities or relying on any Alberta securities laws exemptions. The ASC has also issued a Notice of Hearing in which ASC staff allege that:


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- between 2003 and 2009, Global 8 illegally raised in excess of
$19.5 million from more than 950 Alberta investors without
registration, a prospectus or appropriate exemptions; and
- Global 8 failed to file its Reports of Exempt Distribution within the
time required by National Instrument 45-106 Prospectus and
Registration Exemptions.
>>

The next appearance is scheduled for 9:30 a.m., August 14, 2009 in the ASC Hearing Room on the 6th Floor, 300-5th Avenue S.W., Calgary, Alberta. At that time, an ASC Panel will consider extending the interim order.

Copies of the Interim Cease Trade Order and Notice of Hearing are available at www.albertasecurities.com.

The ASC is the regulatory agency responsible for administering the province's securities laws. It is entrusted with fostering a fair and efficient capital market in Alberta and protecting investors. As a member of the Canadian Securities Administrators, the ASC works to improve, coordinate and harmonize the regulation of Canada's capital.

SOURCE: Alberta Securities Commission

For Media Inquiries: Mark Dickey, Senior Communications Advisor, [phone]; For Investor Inquiries: ASC Public Inquiries, Toll Free 1-877-355-4488

Copyright (C) 2009 CNW Group. All rights reserved.
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