R.S.O. 1990, CHAPTER S.5, AS AMENDED
– and –
IN THE MATTER OF
FIRESTAR CAPITAL MANAGEMENT CORP.,
KAMPOSSE FINANCIAL CORP., FIRESTAR INVESTMENT MANAGEMENT
GROUP, MICHAEL CIAVARELLA AND MICHAEL MITTON
WHEREAS it appears to the Ontario Securities Commission that:
- Firestar Investment Management Group ("Firestar Investment") is a corporation having accounts in Ontario at HSBC Securities (Canada) Inc., HSBC Bank Canada and CIBC World Markets in Ontario, in which there has been trading in shares of Pender International Inc. ("Pender");
- Staff of the Commission are conducting an investigation into Firestar Investment's trading activity in Pender, and based on the information collected by Staff to date, it appears that Firestar Investment is trading shares of Pender with related accounts in a way that may be artificially increasing the share price of Pender;
- The Commission is of the opinion that it is in the public interest to make this Order; and
- The Commission is of the opinion that the length of time required to conclude a hearing in this matter could be prejudicial to the public interest.
AND WHEREAS by Commission order made March 15, 2004, pursuant to ss.3.5(3) of the Act, anyone of David A. Brown, Paul Moore and Susan Wolburgh Jenah acting alone is authorized to make orders under s.127 of the Act;
IT IS THEREFORE ORDERED that, pursuant to clause 2 of section 127(1) of the Act, trading in securities of Pender by Firestar Investment cease.
IT IS FURTHER ORDERED that, pursuant to section 127(6) of the Act, this order shall take effect immediately and shall expire on the 15th day after its making unless extended by the Commission.
DATED at Toronto this "10th" day of December, 2004.