3 July – LAWFUEL – The Law News Network – The Securities and Exchange Commission today announced the temporary suspension, pursuant to Section 12(k) of the Exchange Act, of over-the-counter trading of the securities of St. George Metals, Inc. (Pink Sheets symbol SGGM). The suspension will commence at 9:30 a.m. EDT, July 1, 2005, through 11:59 p.m. EDT, on July 15, 2005. The Commission temporarily suspended trading in the securities of St. George Metals because of questions that have been raised about the adequacy of publicly available information concerning, among other things, St. George Metals’ assets and liabilities, mining and other business activities, stock issuances, and corporate management.
The Commission cautions brokers, dealers, shareholders, and prospective purchasers that they should carefully consider the foregoing information along with all other currently available information and any information subsequently issued by St. George Metals. Further, brokers and dealers should be alert to the fact that, pursuant to Rule 15c2-11 under the Exchange Act, at the termination of the trading suspension, no quotation may be entered unless and until they have strictly complied with all of the provisions of the rule. If any broker or dealer has any questions as to whether or not he has complied with the rule, he should not enter any quotation but immediately contact the staff of the Securities and Exchange Commission in Washington, D.C. If any broker or dealer is uncertain as to what is required by Rule 15c2-11, he should refrain from entering quotations relating to the securities of St. George Metals until such time as he has familiarized himself with the rule and is certain that all of its provisions have been met. If any broker or dealer enters any quotation for the stock of St. George Metals that is in violation of the rule, the Commission will consider the need for prompt enforcement action. For questions related to the operation of Rule 15c2-11, please contact the Division of Market Regulation at (202) 551-5500.
