The Alberta Securities Commission has issued a Notice of Hearing alleging that 2307755 Alberta Ltd. and its director and officer Daniel Rodolfo Astete engaged in illegal distributions of securities in connection with a real estate crowdfunding raise for a proposed Calgary development project known as The Isaac on 9th. The Notice of Hearing alleges that, between November and December 2023, 2307755 raised approximately CAD 500,000 by distributing 500,000 common shares through a real estate crowdfunding platform without filing a prospectus, while purportedly relying on the start-up crowdfunding exemption in National Instrument 45-110. It further alleges the issuer paid CAD 21,000 to Astete from the offering proceeds as a commission or similar payment, which the instrument prohibits when paid to a principal of the issuer; the allegations have not been proven. An appearance to set a date for a hearing is scheduled for April 8, 2026.
Alberta Securities Commission 2026-02-27
Alberta Securities Commission issues Notice of Hearing alleging illegal crowdfunding securities distribution and prohibited commission payment
The Alberta Securities Commission has issued a Notice of Hearing against 2307755 Alberta Ltd. and its director Daniel Rodolfo Astete for allegedly conducting illegal securities distributions related to a Calgary real estate crowdfunding project. The allegations include raising CAD 500,000 without a prospectus and paying CAD 21,000 to Astete, violating National Instrument 45-110. These allegations remain unproven, with a hearing date to be set on April 8, 2026.