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THE SECURITIES ACT |
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Order No. 7362 |
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Sections 148, 19(5), and 148.3 |
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July 6, 2016 |
MRS SCIENCES INC. (FORMERLY
MORNINGSIDE CAPITAL CORP.) AND EDWARD EMMONS
WHEREAS:
(A) On June 4, 2014, the Ontario Securities Commission (“OSC”) issued an order against MRS Sciences Inc. formerly Morningside Capital Corp. and Edward Emmons (“OSC Order”);
(B) On February 1, 2016, The Manitoba Securities Commission (“Commission”) issued a Notice of Hearing (“Notice”) giving notice of its intention to hold a hearing to consider whether or not it was in the public interest to grant orders pursuant to The Securities Act, R.S.M. 1988 c. S50 as amended (“Act”) with respect to MRS Sciences Inc. formerly Morningside Capital Corp. (“MRS”) and/or Edward Emmons (“EMMONS”);
(C) On July 6, 2016, this hearing matter came before a panel of the Commission;
(D) Upon reviewing the documentary evidence and hearing the submissions of counsel for staff of the Commission, no one appearing for the respondents, and upon reviewing the Affidavits of Service, filed, and being satisfied as to service upon the respondents, the Commission is of the opinion that it is in the public interest to make this order.
IT IS ORDERED:
1. THAT, pursuant to section 148 of the Act, EMMONS cease trading in securities until and including June 4, 2024.
2. THAT, pursuant to section 148 of the Act, MRS cease trading in securities permanently.
3. THAT, pursuant to subsection 19(5) of the Act, subsection 19(1) of the Act, with respect to such of the trades referred to in that subsection, and subsection 19(2) of the Act, with respect to such of the securities referred to in that subsection, do not apply to EMMONS up to and including June 4, 2024.
4. THAT, pursuant to subsection 19(5) of the Act, subsection 19(1) of the Act, with respect to such of the trades referred to in that subsection, and subsection 19(2) of the Act, with respect to such of the securities referred to in that subsection, do not apply to MRS permanently.
5. THAT, pursuant to section 148.3 of the Act, EMMONS resign from all positions he may hold as a director or officer of an issuer and be prohibited from becoming or acting as a director or officer of any issuer up to and including June 4, 2024.
6. THAT, pursuant to subsection 148.4(2) of the Act, in the event of a respondent proceeding with an appeal of the OSC Order, and the appeal or other related proceedings resulting in a change to, or stay of, any portion of the OSC Order now reciprocated by this order as against the respondent, upon the request of said respondent or staff, this order be reviewed by the Commission as to any variation, substitution, revocation, or other order which may be required, if any.
BY ORDER OF THE COMMISSION
Director