British Controlled Oilfields Ltd.

September 17, 2015 19:45 ET

British Controlled Oilfields Ltd. Announces Cease-Trade Order

MONTREAL, QUEBEC--(Marketwired - Sept. 17, 2015) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

As a result of the resignation of British Controlled Oilfields Ltd. ("BCO")'s custodian, Banque Pictet & Cie SA ("Pictet"), and portfolio manager, Veritas Asset Management AG, the Bureau de décision et de révision ("BDR"), at the request of BCO's principal regulator, the Autorité des marchés financiers ("AMF") issued today a cease-trade order of 120 days in relation to BCO's common shares which trade on the TSX Venture Exchange. In addition, the BDR ordered BCO to deposit any asset received from Pictet with a custodian compliant with Canadian securities legislation.

BCO's management continues to diligently take steps to secure a custodian and portfolio manager which comply with Canadian securities legislation. The BDR orders will be lifted when BCO becomes fully compliant with Canadian securities legislation.

Contact Information

  • British Controlled Oilfields Ltd.
    (514) 871-9571