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THE SECURITIES ACT |
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Order No. 7422 |
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Sections 148, 19(5), and 148.3 |
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September 6, 2017 |
MM CAFÉ FRANCHISE INC. AND DAVE GARNET CRAIG
WHEREAS:
(A) On April 24, 2017, the Ontario Securities Commission (“OSC”) issued an order against MM Café Franchise Inc. and Dave Garnet Craig (“OSC Order”);
(B) On August 11, 2017, The Manitoba Securities Commission (“Commission”) issued an Amended Notice of Hearing amending a Notice of Hearing previously issued by the Commission on June 13, 2017 (“Notice”) giving notice of its intention to hold a hearing pursuant to section 148.4 of The Securities Act, R.S.M. 1988, c. S50 as amended (“Act”) to consider whether or not it was in the public interest to grant orders with respect to MM Café Franchise Inc. (“MMCF”) and Dave Garnet Craig (“CRAIG”);
(C) On September 6, 2017, 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 and hearing from CRAIG appearing by teleconference on his own behalf, 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, MMCF cease trading in securities or derivatives permanently.
2. 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 MMCF permanently.
3. THAT, pursuant to section 148.3 of the Act, CRAIG resign any positions he holds 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 April 24, 2022.
BY ORDER OF THE COMMISSION
Director