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., ALLEN GROSSMAN
and ALAN MARSH SHUMAN

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) of the Act, 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 on June 28, 2006, the Commission ordered 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 (the “Second Temporary Order”);

AND WHEREAS on June 28, 2006, the Commission ordered the Temporary Order extended until the conclusion of the Hearing and ordered First Global to cease purchasing the names of potential investors from any company or person while subject to the Temporary Order;

AND WHEREAS Alan Marsh Shuman has been served with the Second Temporary Order, the Amended Notice of Hearing, the Amended Statement of Allegations, the affidavits of Jody Sikora sworn May 25 and June 23, 2006 and the affidavit of Wendell Clarke sworn May 25, 2006 by leaving a copy of these documents with an adult member of Mr. Shuman’s household as evidenced by the affidavit of Roy Mitchell sworn July 11, 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 section 127(5) of the Act; and

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 Second Temporary Order is extended until the conclusion of the hearing in this matter; and

IT IS FURTHER ORDERED that the Hearing is adjourned to Tuesday, September 12, 2006 at 10:00 a.m.

        Dated at Toronto this 13 th day of July, 2006

 

”Paul M. Moore”
Paul M. Moore

 

”Suresh Thakrar“
Suresh Thakrar