IIROC takes action on BE Resources trades

The Investment Industry Regulatory Organization of Canada (IIROC) has announced that it has taken action concerning trades in BE Resources Inc. (BER), which took place on Friday, July 22, 2011.

Pursuant to the Universal Market Integrity Rules (UMIR), IIROC’s market integrity officials cancelled all trades in BER that occurred on Friday, July 22, 2011. Trading in the stock was halted on Monday, July 25, 2011. On Friday, July 22, 2011, there were 10,663 trades of 49,324,463 shares in BER.

IIROC took these steps after learning that BER issued an erroneous news release dated July 22, 2011. When BER determined that the release contained errors, the company issued a subsequent amended press release with corrected information. Trading of BER was expected to resume on Tuesday, July 26, 2011. Investors should check the IIROC website to confirm resumption of trading.

Investors who have questions about a trade should contact the dealer who handled their order.

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