SYDNEY – The Nova Scotia Securities Commission has issued a temporary cease trade order against Cape Breton West Wind Field Inc.
The director of corporate finance has ordered people and companies to stop trading securities. The companies have until Sept. 21 to file all the documents to avoid a permanent cease trade order.
A similar order against Cape Breton West Wind Field Inc. was filed in June and revoked about a week later. The corporation has, for all intents and purposes, ceased operations.
The Nova Scotia Department of Economic and Rural Development and Tourism on its website described Cape Breton West Wind Field Inc. as a community economic development investment fund created to invest in renewable and distributed energy-generating facilities.
Its first public offering closed in October 2002, having raised $98,873 from 28 investors.
The Nova Scotia Securities Commission is the provincial government agency responsible for regulating trading in securities in the province.
An offering document filed with the securities commission shows Cape Breton West Wind Field was created in 2002 with agents in Cape Breton, Digby County, Halifax, Dartmouth and Windsor.
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