Proceedings

News Release

Ontario Securities
Commission


20 Queen St. W.
Box 55, Suite 1900
Toronto, ON M5H 3S8
Commission des valeurs mobilières de l'Ontario
FOR IMMEDIATE RELEASE

March 25, 2011


OSC Lays Quasi Criminal Charges Against George Schwartz
in Ontario Court of Justice


TORONTO – The Ontario Securities Commission announced today that quasi criminal charges were laid in the Ontario Court of Justice against George Schwartz in connection with alleged breaches of the Securities Act (Ontario).

Mr. Schwartz has been charged with one count of trading in securities of Uranium308 Resources Inc. (U308) at a time when he was prohibited from trading in securities by Commission order, one count of trading without registration contrary to section 25(1)(a) of the Securities Act and one count of authorizing, permitting or acquiescing, while acting as an officer and director of U308, in non-compliance with the Securities Act contrary to section 129.2.

The first court appearance for Mr. Schwartz in this matter is scheduled to take place on April 11, 2011 at 9:00 a.m. in Courtroom #111 at Old City Hall, 60 Queen Street West in Toronto, Ontario.

The mandate of the OSC is to provide protection to investors from unfair, improper or fraudulent practices and to foster fair and efficient capital markets and confidence in capital markets. Cease trade orders prohibit individuals or companies from trading in securities. Investors are urged to check the registration of any person or company offering an investment opportunity and to review the OSC investor materials available at www.osc.gov.on.ca.


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For Media Inquiries: Wendy Dey
Director, Communications & Public Affairs
416-593-8120

Carolyn Shaw-Rimmington
Manager, Public Affairs
416-593-2361

Dylan Rae
Media Relations Specialist
416-595-8934

For Investor Inquiries: OSC Contact Centre
416-593-8314
1-877-785-1555 (Toll Free)