THE SECURITIES ACT | ) |
Order No. 4766 |
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Section 148 | ) |
May 13, 2005 |
LAUNCH RESOURCES INC.
WHEREAS:
(A) Launch Resources Inc. (the "Issuer") is subject to the requirements of Part XII of The Securities Act (Manitoba) (the "Act") and National Instrument 51-102 Continuous Disclosure Obligations (“NI 51-102”);
(B) The Issuer has a financial year end of December 31st;
(C) The Issuer has failed to file with The Manitoba Securities Commission (the "Commission") a copy of its annual financial statements for the year ended December 31, 2004 as required by NI 51-102 (the "Financial Statements");
(D) On the basis of the foregoing, I am of the opinion that it is in the public interest that trading in the securities of the Issuer should cease forthwith for a period of fifteen days and I am further of the opinion that the holding of a hearing would cause a delay which would be prejudicial to the public interest.
I HEREBY ORDER under a delegation to me by the Commission under subsection 4(1) of the Act of the powers in that behalf:
1. THAT, under section 148(1) of the Act, trading in the securities of the Issuer shall cease forthwith for a period of fifteen days from May 13, 2005 to May 26, 2005, both dates inclusive, or until such earlier date as:
(a) the Issuer files a copy of the Financial Statements and pays all outstanding filing fees to the Commission; and
(b) the Issuer submits a written request to the Commission to have this order revoked.
DIRECTOR