Temporary Order: In the Matter of Gold-Quest International et al.

Order
 

 

 

 

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

- AND -

IN THE MATTER OF
GOLD-QUEST INTERNATIONAL, HEALTH AND HARMONEY,
IAIN BUCHANAN, AND LISA BUCHANAN

TEMPORARY ORDER
SUBSECTION 127 (1) AND SUBSECTION 127(5)

 

 


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

 

 

 

  1. Gold-Quest International (“Gold-Quest”) is an entity with an operating office in Las Vegas, Nevada;
  2. Gold-Quest is not registered with the Commission to trade securities nor is it a reporting issuer in Ontario;
  3. Health and HarMONEY is an entity based in Oshawa, Ontario and is not registered with the Commission;
  4. Iain Buchanan is listed as a Senior Partner of Health and HarMONEY and is not currently registered with the Commission;
  5. Lisa Buchanan is listed as a Director of Health and HarMONEY and is not currently registered with the Commission;
  6. Health and HarMONEY and its officers, directors, employees and agents including Iain Buchanan and Lisa Buchanan appear to have been engaged in the distribution of securities of Gold-Quest in Ontario;
  7. Persons in Ontario have been and continue to be solicited by Gold-Quest to enter into investment contracts with Gold-Quest whereby these persons would supply funds to Gold-Quest which Gold-Quest would use to invest in foreign currency trading;
  8. The investment contracts referred to in paragraph 7 above are “securities” as that term in defined in the Securities Act, RSO 1990, c.S.5 (the “Act”);
  9. Staff of the Commission (“Staff”) are conducting an investigation into the solicitation of investors to enter into investment contracts with Gold-Quest;
  10. The Commission is of the opinion that the time required to conclude a hearing could be prejudicial to the public interest; and
  11. The Commission is of the opinion that it is in the public interest to make this order.

AND WHEREAS by Commission Order made on April 4, 2007, pursuant to section 3.5(3) of the Act, any one of W. David Wilson, James E.A. Turner, Lawrence E. Ritchie, Robert L. Shirriff, Harold P. Hands, Paul K. Bates, and David L. Knight acting alone, is authorized to make orders under section 127 of the Act;

IT IS ORDERED pursuant to clause 2 of subsection 127(1) and subsection 127(5) of the Act that all trading in any securities of Gold-Quest shall cease;

IT IS FURTHER ORDERED pursuant to clause 2 of subsection 127(1) and subsection 127(5) of the Act that all trading in any securities by Health and HarMONEY, Iain Buchanan and Lisa Buchanan shall cease;

IT IS FURTHER ORDERED pursuant to clause 3 of subsection 127(1) and subsection 127(5) of the Act that any exemptions contained in Ontario securities law do not apply to Gold-Quest, its officers, directors, agents, or employees;

IT IS FURTHER ORDERED pursuant to clause 3 of subsection 127(1) and subsection 127(5) of the Act that any exemptions contained in Ontario securities law do not apply to Health and HarMONEY, Iain Buchanan and Lisa Buchanan, and

IT IS FURTHER ORDERED pursuant to subsection 127(6) of the Act that 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 1st day of April, 2008.

 

 

 
“David Wilson”
David Wilson