| THE SECURITIES ACT | ) |
Order No. 2718 |
) |
||
| Section 148 | ) |
December 2, 1999 |
ROYAL OAK MINES INC
WHEREAS:
(A) By Order No. 2695 (the "Order") of The Manitoba Securities Commission (the "Commission") dated November 18, 1999, issued pursuant to section 148(1) of The Securities Act (the "Act"), trading in the securities of Royal Oak Mines Inc (the "Issuer") was directed to cease forthwith for a period of fifteen days from November 18, 1999 until December 2, 1999 the failure of the Issuer to file with the Commission a copy of its Interim financial statements (the "Financial Statements") for the 3 Months & 6 Months period ended March 31, 1999 & June 30, 1999 as required by section 129(5) [Interim] of the Act;
(B) A copy of the Financial Statements has not yet been filed with the Commission;
(C) On the basis of the foregoing, I am of the opinion that it is in the public interest that the direction to cease trading in the securities of the Issuer set out in the Order should be extended until such time as the Issuer complies with the requirements of Part XII of the Act.
I HEREBY ORDER pursuant to a delegation to me by the Commission under subsection 4(1) of the Act of the powers in that behalf:
1. THAT, pursuant to section 148(1) of the Act, the direction to cease trading in the securities of the Issuer set out in the Order is hereby extended until such time as:
(a) the Issuer becomes current in its filings with the Commission under Part XII of the Act; and
(b) the Issuer submits a written request to the Commission to have this order revoked.
Director