Amended Notice of Hearing: In the Matter of Ground Wealth Inc. et al.
IN THE MATTER OF THE SECURITIES ACT,
R.S.O. 1990, c. S.5 AS AMENDED
- AND -
IN THE MATTER OF GROUND WEALTH INC., ARMADILLO ENERGY INC., PAUL
SCHUETT, DOUG DEBOER, JAMES LINDE, SUSAN LAWSON, MICHELLE DUNK,
ADRION SMITH, BIANCA SOTO and TERRY REICHERT
AMENDED NOTICE OF HEARING
Sections 127(7) & 127(8)
WHEREAS the Ontario Securities Commission (the “Commission”) issued a temporary order on July 27, 2011 (the “Temporary Order”) pursuant to sections 127(1) and 127(5) of the Securities Act, R.S.O. 1990, c. S.5, as amended (the “Act”) that:
- pursuant to paragraph 2 of subsection 127(1) that all trading in the securities of Armadillo Energy Inc. (“the Armadillo Securities”) shall cease;
- pursuant to paragraph 2 of subsection 127(1) that Armadillo Energy Inc. (“Armadillo), Ground Wealth Inc. (“GWI”), Paul Schuett (“Schuett”), Doug DeBoer (“DeBoer”), James Linde (“Linde”), Susan Lawson (“Lawson”), Michelle Dunk (“Dunk”), Adrion Smith (“Smith”), Bianca Soto (“Soto”) and Terry Reichert (“Reichert”) shall cease trading in all securities;
- pursuant to subsection 127(6) that this order shall take effect immediately and shall expire on the fifteenth day after its making unless extended by order of the Commission.
AND WHEREAS on August 11, 2011 the Commission held a hearing to consider whether it is in the public interest to extend the Temporary Order pursuant to subsections 127(7) and 127(8), and heard submissions from counsel for the Respondents and from Staff of the Commission;
AND WHEREAS on August 11, 2011, the Commission extended the Temporary Order to February 13, 2012 on the same terms and conditions as provided for in the Temporary Order; provided the Temporary Order shall not prevent a Respondent from trading for the Respondent’s own account, solely through a registered dealer or a registered dealer in a foreign jurisdiction (which dealer must be given a copy of the Temporary Order dated August 11, 2011 (the “Amended Temporary Order”)), in (a) any “exchange traded security” or “foreign exchange traded security” within the meaning of National Instrument 21-101, provided the Respondent does not own beneficially or exercise control or direction over more than 5 per cent of the voting or equity securities of the issuer of any such securities, or (b) any security issued by a mutual fund that is a reporting issuer; and provided the Respondent provides Staff with the particulars of the accounts in which such trading is to occur before any trading in such accounts occurs;
AND WHEREAS on February 8, 2012, the Commission held a hearing to consider whether it is in the public interest to extend the Amended Temporary Order pursuant to subsections 127(7) and 127(8), and heard submissions from counsel for the Respondents and from Staff of the Commission;
AND WHEREAS on February 8, 2012, the Commission extended the Amended Temporary Order to August 8, 2012 subject to the following terms: that all trading in the Armadillo Securities shall cease and that the Respondents shall cease trading in Armadillo Securities and/or in securities of a nature similar to Armadillo Securities, which are securities evidencing an interest in the production of barrels of oil still in the ground (the “February 2012 Order”);
TAKE NOTICE THAT the Commission will hold a hearing pursuant to subsections 127(7) and 127(8) at the offices of the Commission, 17th Floor, 20 Queen Street West, Toronto, commencing on August 2, 2012 at 10:00 am or as soon thereafter as the hearing can be held;
TO CONSIDER whether it is in the public interest for the Commission:
- to extend the February 2012 Order pursuant to subsections 127(7) and 127(8) until the conclusion of the hearing or until such further time as considered necessary by the Commission; and
- to make such further orders as the Commission considers appropriate;
BY REASON OF the facts recited in the February 2012 Order and of such allegations and evidence as counsel may advise and the Commission may permit;
AND TAKE FURTHER NOTICE that any party to the proceeding may be represented by counsel at the hearing;
AND TAKE FURTHER NOTICE that upon failure of any party to attend at the time and place aforesaid, the hearing may proceed in the absence of that party and such party is not entitled to further notice of the proceeding.
Dated at Toronto this 24th day of July, 2012.
Per: John Stevenson