Global 8 Environmental Technologies Inc GBLE

Five day hearing scheduled for Dyer/Porc

[mburns2000]

Vancouver, January 26, 2011: The BC Securities Commission (BCSC) has scheduled a five day hearing into the allegedly illegal sales of Global 8 shares by Don Dyer/Pacific Ocean Resources Corp (PORC). Mr Dyer was reputedly not registered to sell securities, nor had he filed a prospectus with the BCSC, when he collected $836,000 from approximately 85 investors, between November 2005 and July 2009. The Commission has scheduled a hearing for September 30, and October 3 to 5 and 7, 2011.

The BCSC is citing Section 161 of the "Securities Act, RSBC 1996 , c 418" which indicates that if found guilty Mr Dyer and/or PORC could be:
- “prohibited from becoming or acting as a director or officer of any issuer, registrant or investment fund manager,” (161.1.d .2)
- “prohibited from acting in a management or consultative capacity inconnection with activities in the securities market” (161.1.d.4)
- “prohibited from engaging in investor relations activities” (161.1.d.5)

PORC/Dyer could also be required to pay back the $836,000 Dyer reputedly collected from investors:
- “if a person has not complied with this Act, the regulations or a decision of the commission or the executive director, that the person pay to the commissionany amount obtained, or payment or loss avoided, directly or indirectly, as aresult of the failure to comply or the contravention” (161.1.g)
(click here to see the BCSC report and a reprint of section 161.)

According to Milverton Capital Corp’s most recent proxy, filed last week, “Mr. Dyer has yet to be charged with any criminal activity. Mr. Dyer denies the allegations in the Notice of Hearing and intends to vigorously defend himself at such hearing.”