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

ORDER
Section 127(7)

WHEREAS on May 29, 2006, the Ontario Securities Commission (the “Commission”) ordered pursuant to section 127(1) of the Securities Act, R.S.O. 1990, c. S.5, as amended (the “Act”) that: (a) all trading by First Global Ventures, S.A. (“First Global”) and its officers, directors, employees and/or agents in securities cease forthwith; (b) all trading cease in the securities of First Global; and (c) any exemptions in Ontario securities law do not apply to First Global (the “Temporary Order”);

AND WHEREAS pursuant to section 127(7), a hearing was scheduled for June 13, 2006 at 10:00 a.m. (the “Hearing”);

AND WHEREAS First Global has been served with the Temporary Order, Notice of Hearing and the Statement of Allegations in this matter, the Affidavit of Jody Sikora sworn May 25, 2006 and the affidavit of Wendell Clarke sworn May 25, 2006 as evidenced by the affidavits of Alice Hewitt sworn June 9, 2006 and the affidavit of Roy Mitchell sworn June 12, 2006;

AND WHEREAS on June 13, 2006, the Commission ordered pursuant to section 127(1) of the Act that: (a) the Temporary Order is extended to June 28, 2006; and (b) the Hearing is adjourned to June 28, 2006;

AND WHEREAS Staff have requested that the Commission make a temporary order pursuant to section 127(5) of the Act that: (a) Alan Marsh Shuman cease trading in all securities for a period of fifteen days; and (ii) any exemptions contained in Ontario securities law do not apply to Alan Shuman for a period of 15 days;

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 section 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 section 127(7) of the Act that the Temporary Order is extended until the conclusion of the hearing in this matter;

IT IS FURTHER ORDERED pursuant to section 127(5) and clause 2 of subsection 127(1) of the Act that Alan Marsh Shuman cease trading in all securities;

IT IS FURTHER ORDERED pursuant to section 127(5) and clause 3 of subsection 127(1) of the Act that any exemptions contained in Ontario securities law do not apply to Alan Marsh Shuman;

IT IS FURTHER ORDERED pursuant to section 127(6) of the Act that the temporary order against Alan Marsh Shuman shall take effect immediately and shall expire on the 15th day after its making unless extended by order of the Commission;

IT IS FURTHER ORDERED that First Global cease purchasing the names of potential investors from any company or person while subject to the Temporary Order;

IT IS FURTHER ORDERED that the Hearing is adjourned to Thursday, July 13, 2006 at 2:30 p.m.

        Dated at Toronto this 28th day of June, 2006

 

”Paul M. Moore”
Paul M. Moore

 

”Suresh Thakrar“
Suresh Thakrar