Securities Law & Instruments

Headnote

Section 144 -- full revocation of cease trade order upon remedying of defaults.

Statutes Cited

Securities Act, R.S.O. 1990, c. S.5, as am., ss. 127, 144.

IN THE MATTER OF

THE SECURITIES ACT,

R.S.O. 1990, CHAPTER S.5, AS AMENDED

(the "Act")

AND

IN THE MATTER OF

LIBERTY MINES INC.

(the "Reporting Issuer")

 

ORDER

(Section 144)

WHEREAS on April 24, 2009, the Director made an order under paragraphs 2 and 2.1 of subsection 127(1) of the Act (the "Permanent Order") that all trading in and all acquisitions of the securities of the Reporting Issuer, whether direct or indirect, shall cease until further order by the Director;

AND WHEREAS the Permanent Order was made because the Reporting Issuer was in default of certain filing requirements under Ontario securities law as described in the Permanent Order (the "Default");

AND WHEREAS the Reporting Issuer has represented to the Commission that:

1. The Reporting Issuer is a reporting issuer under the securities legislation of the provinces of Alberta, British Columbia and Ontario.

2. The Reporting Issuer has filed all outstanding continuous disclosure documents that are required to be filed under Ontario securities law and has paid all outstanding activity, participation and late filing fees that are required to be paid.

3. The Reporting Issuer was also subject to similar cease trade orders issued by the Alberta Securities Commission ( the "ABSC") and British Columbia Securities Commission (the "BCSC") as a result of the failure to make the filings described in the Permanent Order. The order issued by the ABSC was revoked on July 14, 2009 and the order issued by the BCSC was revoked on July 15, 2009.

4. The Reporting Issuer's SEDAR profile and SEDI issuer profile supplement are current and accurate.

AND WHEREAS the Director is of the opinion that it would not be prejudicial to the public interest to revoke the Permanent Order;

IT IS ORDERED under section 144 of the Act that the Permanent Order is revoked.

DATED at Toronto this 17th day of July, 2009.

"Jo-Anne Matear"
Assistant Manager, Corporate Finance
Ontario Securities Commission