Beltway M&A

Date added:October 06, 2009
Address/Contact:

Sincere Insurance Building
1 Queen's Way
Central, Hong Kong, China

www.beltwayma.com, (link no longer operational)

Supporting Documents:

Saskatchewan Financial Services Commission: Temporary Cease Trade Order - September 25, 2009

Saskatchewan Financial Services Commission: Extending Order - October 9, 2009

Alberta Securities Commission: Investor Alert - September 29, 2009

British Columbia Securities Commission: Temporary Order and Notice of Hearing - October 9, 2009

British Columbia Securities Commission: Temporary Order and Amended Notice of Hearing - October 22, 2009

British Columbia Securities Commission: Order - November 4, 2009
Background:

In late September 2009, we learned that The Castleton Group (Castleton) and Beltway M&A (Beltway) have contacted shareholders of TLC Explorations Inc. (TLC) and offered to repurchase their TLC shares at an inflated price. To complete the transaction, the shareholders were asked to pay a "Refundable Securities Authentication Deposit", up front, and wire it to a bank account outside Canada.

We know of at least one British Columbia victim who provided funds to Castleton but never received money for his TLC shares.

In October 2009, we learned from a provincial securities regulator that an entity called Waverly M&A (Waverly) may be carrying out a similar scheme as Castleton and Beltway. We have not received any complaints from British Columbia residents about Waverly.

Castleton, Beltway and Waverly are not registered in British Columbia to trade in, or advise on, securities and exchange contracts.

On September 25, 2009 and October 9, 2009, the Saskatchewan Financial Services Commission issued cease trade orders against Castleton and Beltway.

On September 29, 2009, the Alberta Securities Commission issued an Investor Alert that included reference to Castleton and Beltway.

On October 9, 2009, the British Columbia Securities Commission (the BCSC) issued a Temporary Order and Notice of Hearing against Castleton and Beltway. On October 22, 2009, the BCSC issued a Temporary Order and Amended Notice of Hearing against Castleton, Beltway and Waverly. On November 4, 2009, the BCSC made permanent orders against Castleton, Beltway and Waverly.