Proceedings

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

and

FIRST GLOBAL VENTURES, S.A.
AND ALLEN GROSSMAN

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

    WHEREAS it appears to the Ontario Securities Commission (the "Commission") that:

(i)     First Global Ventures, S.A. (“First Global”) is a Panamanian corporation with a virtual office in Panama City, Panama;

(ii)     Allen Grossman (“Grossman”) is an individual resident in Ontario who is currently subject to an ongoing temporary cease trade order dated January 24, 2006 issued by the Commission;

(iii)     neither First Global nor Grossman is registered with the Commission to trade in securities;

(iv)     the securities of First Global have been offered for sale to members of the public who have previously purchased shares in Maitland Capital Ltd.;

(v)     Staff of the Commission (“Staff”) are conducting investigations into the trading of Maitland and First Global securities; and

(vi)     a prospectus receipt has not been issued for the First Global securities contrary to section 53 of the Securities Act (the “Act”);

AND WHEREAS First Global has not been served with any notice that a temporary order and order for substituted service were being sought against First Global and whereas counsel for Allen Grossman were served on Friday, May 26, 2006 with the affidavits of Jody Sikora sworn May 25, 2006 and the affidavit of Wendell Clarke sworn May 25, 2006;

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;

IT IS ORDERED pursuant to clause 2 of subsection 127(1) of the Act, that all trading by First Global and its officers, directors, employees and/or agents shall cease;

IT IS FURTHER ORDERED that pursuant to clause 2 of subsection 127(1) of the Act, that trading cease in the securities of First Global;

IT IS FURTHER ORDERED that pursuant to clause 3 of subsection 127(1) of the Act, that any exemptions contained in Ontario securities law do not apply to First Global; 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 15th day after its making unless extended by Order of the Commission; and

IT IS FURTHER ORDERED that service of documents upon First Global shall be effected by:

(a)     service upon Grossman;

(b)     by fax transmission to First Global at 011-507-340-0299 being the fax number listed on First Global’s website at www.firstglobalventures.com;

(c)     by e-mail to the e-mail addresses listed on the First Global website at www.firstglobalventures.com; and

(d)     by courier to the street address of Ave. Aquilino De La Guardia y Calle 47, Edificio Ocean Business Plaza , Piso 18, Panama City , Panama , Apartado Postal 0816-022273 as listed on First Global’s website.

 

    Dated at Toronto this 29th day of May, 2006


“Paul M. Moore”
Paul M. Moore



“Suresh Thakrar”
Suresh Thakrar