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 “First 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 First Temporary Order, the Notice of Hearing and the Statement of Allegations dated June 5, 2006, 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 First 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 Marsh Shuman for a period of 15 days (the “Second Temporary Order”);

AND WHEREAS on June 28, 2006 , the Commission also ordered the First 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 First Temporary Order;

AND WHEREAS Alan Marsh Shuman has been served with the Second Temporary Order, the Amended Notice of Hearing dated July 11, 2006, 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 Alan Marsh Shuman’s household as evidenced by the affidavit of Roy Mitchell sworn July 11, 2006;

AND WHEREAS on July 13, 2006, the Commission ordered pursuant to section 127(1) of the Act that: (a) the Second Temporary Order is extended until the conclusion of the Hearing; and (b) the Hearing is adjourned to September 12, 2006;

AND WHEREAS on August 24, 2006, Alan Marsh Shuman was served with Staff’s letter dated August 22, 2006 and a copy of the Order dated July 13, 2006 as evidenced by the affidavit of service of Lawrence Beischer sworn August 25, 2006;

AND WHEREAS on September 12, 2006 , the Commission ordered that: (i) the Hearing is adjourned to November 21, 2006 ; and (ii) First Global shall post a copy of the Commission Order dated September 12, 2006 prominently on the home page of First Global’s website at www.firstglobalventures.com;

AND WHEREAS Allen Grossman continues to be the subject of an ongoing cease trade order issued by the Commission on January 24, 2006 in the Maitland Capital Ltd. proceeding;

AND WHEREAS Staff have filed an Affidavit of Jody Sikora sworn November 16, 2006 which attaches an ongoing suspension order of the Panamanian National Securities Commission dated September 19, 2006 issued against First Global and which advises that First Global has not posted a copy of the Commission Order dated September 12, 2006 on its website as required by the Commission Order dated September 12, 2006;

AND WHEREAS Staff advise that their investigation in this matter continues;

AND WHEREAS counsel for Allen Grossman consents to the adjournment of the Hearing to March 8, 2007 and Alan Marsh Shuman and First Global have never appeared at this Hearing although properly served;

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

IT IS ORDERED that the Hearing is adjourned to March 8, 2007 at 10:00 a.m.


        Dated at Toronto this "21st" day of November, 2006.

"Paul M. Moore"
Paul M. Moore
"Suresh Thakrar"
Suresh Thakrar