R.S.O. 1990, c. S.5, AS AMENDED (the "Act")
IN THE MATTER OF
BRUCE ANTHONY, WAYNE D. COCKBURN, BOB KENNEDY, RONALD S. RITCHIE,PETER J. SMITH, DOUGLAS C. WITHERSPOON, FIRST BASE LINE COMMUNICATIONS INC. AND SECOND BASE DEVELOPMENT CORP.
WHEREAS on June 8, 2000 the Ontario Securities Commission (the "Commission")made a temporary order pursuant to subsection 127(5) of the Act, that none of theRespondents shall trade in any securities of Futureline Communications Co. Ltd.("Futureline"), subject to the terms set out in the order, for a period of 15 days from thedate of the order;
AND WHEREAS on June 8, 2000 the Commission issued a Notice of Hearingreturnable June 22, 2000 pursuant to subsection 127(9) of the Act;
AND WHEREAS on June 22, 2000 the respondent Second Base DevelopmentCorp. had not been effectively served;
AND WHEREAS the Hearing in this matter commenced on June 22, 2000;
AND WHEREAS the Hearing was adjourned until 10:30 a.m. June 23, 2000 to allowfor service upon Second Base Development Corp.;
AND WHEREAS it appears to the Commission that:
1. Futureline is incorporated under the laws of Canada and is a reporting issuer in theProvince of Ontario.
2. Each of Bruce Anthony, Wayne D. Cockburn, Bob Kennedy, Ronald S. Ritchie,Peter J. Smith, Douglas C. Witherspoon, First Base Line Communications Inc. andSecond Base Development Corp. (the "Respondents") is, or was during thefinancial year of Futureline ended December 31, 1999, a director, officer orsignificant shareholder (beneficial ownership of 10% or more of the voting rights ofFutureline) or individual that has, or may have, access to material undisclosedinformation of Futureline.
3. Futureline failed to file annual financial statements for its financial year endedDecember 31, 1999 (the "1999 Financial Statements") on or before May 19, 2000,contrary to subsection 78(1) of the Act.
4. As of the date of this order, Futureline has not filed its 1999 Financial Statements.
AND WHEREAS the Commission is of the opinion that it is in the public interest tomake this Order;
IT IS ORDERED that the temporary order made June 8, 2000 be continued until theconclusion of the hearing in this matter, to be heard June 23, 2000; and
IT IS FURTHER ORDERED pursuant to paragraph 2 of subsection 127(1) of the Actthat all trading by the Respondents in the securities of Futureline shall cease until:
(a) two full business days following the receipt by the Commission of all filingsFutureline is required to make pursuant to Ontario securities law; or
(b) further order of the Commission.
June 22nd, 2000."J. A. Geller"
"Morley P. Carscallen"
"R. Stephen Paddon"