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R.S.O. 1990, c. S.5, AS AMENDED  

- and -

Portus Alternative Asset Management, Inc.

(Section 127)

TAKE NOTICE that the Ontario Securities Commission will hold a hearing pursuant to section 127 of the Securities Act, at the offices of the Ontario Securities Commission, 20 Queen Street West, 17 th Floor Hearing Room, Toronto, Ontario on February 17, 2005 at 10:00 a.m., or as soon thereafter as the hearing can be held:

TO CONSIDER whether, pursuant to section 127 of the SecuritiesAct, it is in the public interest for the Commission:

(a) pursuant to s. 127(7), to extend the temporary order made February 2, 2005 until the final disposition of this matter or until the Commission considers appropriate; and

(b) to make such other order as the Commission considers appropriate.

BY REASON OF the allegations of Staff that the above named is conducting business in contravention of sections 113 and 123 of Ontario Regulation 1015, R.R.O. 1990 of the Securities Act, and subsections 2.1(1) and 1.5(1)(b) of OSC Rule 31-505 and appears to be engaging in conduct that is contrary to the public interest, and such additional reasons as counsel may advise and the Commission may permit;

AND TAKE FURTHER NOTICE that any party to the proceedings may be represented by counsel at the hearing;

AND TAKE FURTHER NOTICE that upon the failure of any party to attend at the time and place aforesaid, the hearing may proceed in the absence of that party, and such party is not entitled to any further notice of the proceeding.

DATED at Toronto this 2nd day of February, 2005.


“John Stevenson”
John Stevenson
Secretary to the Commission

TO: Portus Alternative Asset management , Inc .
BCE Place , Suite 2400
161 B ay Street
Toronto , ON
M53 2S1