The Alberta Securities Commission has issued a Notice of Hearing alleging that 2307755 Alberta Ltd. and its director and officer Daniel Rodolfo Astete conducted illegal distributions of securities through a real estate crowdfunding offering tied to a proposed Calgary development project known as The Isaac on 9th. The Notice alleges that between November and December 2023 the issuer raised about CAD 500,000 by distributing 500,000 common shares via a crowdfunding platform without filing a prospectus, while purporting to rely on the start-up crowdfunding exemption under National Instrument 45-110. It further alleges that CAD 21,000 from the offering proceeds was paid to Astete as a commission or similar payment, which the instrument prohibits when paid to a principal of the issuer. The ASC notes the allegations have not been proven. An appearance to set a hearing date 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 misuse of proceeds
The Alberta Securities Commission issued a Notice of Hearing against 2307755 Alberta Ltd. and director Daniel Rodolfo Astete for allegedly conducting illegal securities distributions via a real estate crowdfunding offering for The Isaac on 9th project. Allegations include raising CAD 500,000 without a prospectus and paying CAD 21,000 to Astete, violating National Instrument 45-110. The allegations remain unproven, with a hearing date set for April 8, 2026.