Temporary Order: In the Matter of Goldpoint Resources Corporation et al.

Order
 

 

 

 

IN THE MATTER OF THE SECURITIES ACT
R.S.O. 1990, c.S.5, AS AMENDED

and

IN THE MATTER OF GOLDPOINT RESOURCES CORPORATION, LINO
NOVIELLI, BRIAN MOLONEY, EVANNA TOMELI, ROBERT BLACK,
RICHARD WYLIE, and JACK ANDERSON


TEMPORARY ORDER
Section 127(1) & 127(5)

 

 


WHEREAS it appears to the Ontario Securities Commission that:

 

 

 

  1. Goldpoint Resources Corporation (“Goldpoint”) is an Ontario corporation with a registered office in Toronto;
  2. Lino Novielli (“Novielli”) is the sole director of Goldpoint;
  3. Goldpoint and Brian Moloney (“Moloney”) are not registered with the Commission in any capacity;
  4. Novielli is registered in Ontario, but only to sell mutual funds.
  5. Shares of Goldpoint have been offered for sale and sold to members of the public, in Ontario and elsewhere in Canada, by representatives of Goldpoint;
  6. Goldpoint appears to be merely a shell company with no assets;
  7. Staff of the Commission (“Staff”) are conducting an investigation into the trading of Goldpoint shares, and based on the information collected by Staff to date, it appears that Novielli, Moloney, Tomeli, Black, Wylie, and Anderson have traded in shares of Goldpoint or have acted in furtherance of trades in shares of Goldpoint;
  8. Representatives of Goldpoint have made representations about the future listing of the shares of Goldpoint in order to effect sales in those shares contrary to s. 38 of the Act;
  9. No prospectus receipt has been issued for the Goldpoint securities contrary to section 53 of the Act.
  10. No exemption from the registration and prospectus requirements under the Act applies to the shares of Goldpoint, or to Novielli, Moloney, Tomeli, Black, Wylie, and Anderson.
  11. False or misleading information appears to have been posted on the Goldpoint website in furtherance of the sale of shares contrary to s.126.1 of the Act. The sale of Goldpoint shares to the public appears to have perpetrated a fraud on the members of the public who purchased the shares.

AND WHEREAS the Commission is of the opinion that the time required to conclude a hearing could be prejudicial to the public interest as set out in s. 127(5) of the Act;

AND WHEREAS the Commission is of the opinion that it is in the public interest to make this order;

AND WHEREAS by Commission order made April 1, 2008, pursuant to section 3.5(3) of the Act, any one of David Wilson, James E.A.Turner, Lawrence E. Ritchie, Paul K. Bates, and David L. Knight, acting alone is authorized to exercise the powers of the Commission under the Act, subject to subsection 3.5(4) of the Act, to make orders under section 127 of the Act;

IT IS ORDERED pursuant to clause 2 of subsection 127(1) of the Act that all trading in securities by Goldpoint shall cease and that all trading in Goldpoint securities shall cease;

IT IS FURTHER ORDERED that pursuant to clause 2 of subsection 127(1) of the Act that Lino Novielli, Brian Moloney, Evanna Tomeli, Robert Black, Richard Wylie, and Jack Anderson cease trading in all securities; and,

IT IS FURTHER ORDERED that pursuant to subsection 127(6) of the Act this order shall take effect immediately and shall expire on the fifteenth day after its making unless extended by order of the Commission.

        Dated at Toronto this 30th day of April, 2008.

 

 

" David Wilson "
David Wilson