| THE SECURITIES ACT | ) |
Order No. 2677 |
) |
||
| Section 20 | ) |
November 4, 1999 |
MANITOBA INVESTMENT FORUM
WHEREAS:
(A) Application has been made to The Manitoba Securities Commission (the "Commission") by Nesbitt Burns Inc. ("Nesbitt Burns") in connection with the Manitoba Investment Forum (the "Forum") for an order pursuant to section 20 of The Securities Act (Manitoba) (the "Act") exempting from sections 6 and 37 of the Act, Nesbitt Burns and the Department of Industry, Trade and Tourism of the Province of Manitoba ("ITT") and certain other persons involved in the Manitoba Investment Forum.
(B) It has been represented by Nesbitt Burns and ITT to the Commission that:
1. The Forum is an event organized by Nesbitt Burns and ITT to provide an opportunity for selected Manitoba firms ("Potential Issuers") to deliver presentations to prospective investors and others describing their business, investment plans, financing needs and investment opportunities;
2. The Forum is expected to present an opportunity to encourage communication and possible involvement between Potential Issuers and investors;
3. The Forum is scheduled to take place on November 10th, 1999 in Winnipeg. A list of presenters/participants is attached hereto as Schedule "A";
4. The Forum and the participation therein by the Potential Issuers will be subject to the supervision and guidance of Nesbitt Burns and ITT;
5. The Forum will not encourage the exchange of funds during the forum or the actual sale of securities of Potential Issuers during that time;
6. Nesbitt Burns, ITT and their respective employees, agents, advisors and servants and Potential Issuers, their respective officers, directors, employees, agents, advisors and servants (collectively the "Participants") may, during the course of the Forum, engage directly or indirectly in trading or acts in furtherance of trading in securities of the Potential Issuers.
(C) The Commission is of the opinion that it would not be prejudicial to the public interest to grant the order requested.
IT IS ORDERED:
1. THAT, pursuant to Section 20 of the Act:
(1) Nesbitt Burns, ITT and the Participants shall be exempt from sections 6 and 37 of the Act in respect of any activities directly or indirectly constituting a trade or an action in furtherance of a trade in securities of the Potential Issuers, which may be engaged in by such persons during the course of the Forum to be held in Winnipeg on November 10th, 1999, provided that the written material describing Potential Issuers shall contain a written notice to the following effect:
"Participants in the Manitoba Investment Forum are reminded that the issuance of securities and any acts in furtherance of a sale of securities are subject to, among other things, the provisions of The Securities Act (Manitoba). The sponsors of the Manitoba Investment Forum assume no responsibility for compliance with applicable statutory requirements and participants are urged to consult with their legal advisors to ensure that their activities are conducted in accordance with the applicable statutory requirements."
(2) The provisions of sub-section 92(1) of the Regulations made under the Act shall not apply to any activities conducted during the Manitoba Investment Forum on November 10th, 1999 by Potential Issuers or Participants on behalf of Potential Issuers, which directly or indirectly may be considered to be acts in furtherance of a trade in securities of a Potential Issuer provided that the said sub-section 92(1) of the Regulations shall continue to apply to any actual sale or disposition of securities by Potential Issuers conducted during the Manitoba Investment Forum on November 10th, 1999.
2. THAT there shall be no fee payable in respect of this order.
BY ORDER OF THE COMMISSION
Director – Legal
APPENDIX "A"
Abject Modernity Internet Creations Inc.
The Arctic Group Inc.
Assante
The Boyd Group Inc.
Buhler Industries Inc.
Cangene Corporation
CanWest Global Communications Corporation
Consolidated Properties Limited
CROCUS Investment Fund
Earth-Lore Ltd.
ENSIS Management Inc.
Fort Garry Brewing Co.
Frantic Films
Great-West Life Assurance Co.
HOLLCO International Inc.
Ingenuity Com Inc.
Investors Group
Jazz Golf Equipment Inc.
Manitoba Science & Technology
Manitoba Telecom Services
Moffat Communications Ltd.
Momentum Software Corp.
North West Company Inc.
Nygard International Ltd.
On Line Enterprises Inc.
R.W. Packaging Ltd.
Rice Financial
Smart Park Development Corporation
Sterling Press & Packaging Inc.
Two Rivers Brewing Company Ltd.
United Grain Growers
Wellington West Capital Inc.
Western Glove Works Ltd.
Westsun International Inc.
Winnipeg Stock Exchange
Winpak Ltd.