Freeze Order Continued in the Matter of Nest Acquisitions and Mergers

News Release
Ontario Securities Commission 20 Queen St. W. Box 55, Suite 1900 Toronto, ON M5H 3S8	Commission des valeurs mobilières de l'Ontario	FOR IMMEDIATE RELEASE May 20, 2009

TORONTO - As a result of an application initiated by the Ontario Securities Commission (OSC), the Superior Court of Justice today continued an Order freezing all funds held in a bank account in the name of Nest Acquisitions and Mergers until June 19, 2009.

Today’s Order by the Superior Court of Justice continues the original Commission direction made on April 8, 2009 under section 126(1) of the Securities Act for the interim preservation of property.

In an affidavit filed in Superior Court, OSC Staff allege that representatives of Nest Acquisitions and Mergers (“Nest”) contacted residents of the United Kingdom by telephone with offers to purchase, often at a significant premium, certain securities held by the U.K. residents. It is further alleged that, in order for the transactions to be completed, representatives of Nest would advise the U.K. resident that an “advance fee” had to be paid to the Nest bank account in Ontario before the transaction could proceed. OSC Staff also allege that the residents of the United Kingdom who provided these “advance fees” to Nest did not subsequently receive what they had been promised by the representatives of Nest.

Staff’s investigation in respect of Nest Acquisitions and Mergers is ongoing. Those persons interested in reviewing the application and supporting affidavit in this matter should access through the Superior Court of Justice 330 University Avenue, 7th floor, Toronto, Ontario, and reference Court File Number CV-09-8133-00CL.

For Media Inquiries:	Wendy Dey Director, Communications & Public Affairs 416-593-8120 Laurie Gillett Manager, Public Affairs 416-595-8913 Carolyn Shaw-Rimmington Assistant Manager, Public Affairs 416-593-2361
For Investor Inquiries:	OSC Contact Centre 416-593-8314 1-877-785-1555 (Toll Free)