Proceedings

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

- AND -

IN THE MATTER OF

SULJA BROS. BUILDING SUPPLIES, LTD. (NEVADA),
SULJA BROS. BUILDING SUPPLIES LTD.,
KORE INTERNATIONAL MANAGEMENT INC.,
PETER VUCICEVICH AND ANDREW DeVRIES

TEMPORARY ORDER
Sections 127(1) and 127(5)

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

1. Sulja Bros. Building Supplies, Ltd. (Nevada) (“Sulja Nevada”) is a Nevada Corporation and its common shares are listed on the Pink Sheets electronic quotation and trading system for OTC securities (the “Pink Sheets”);

2. Sulja Nevada’s principal asset is its interest in Sulja Bros. Building Supplies Ltd., an Ontario Corporation (“Sulja Ontario”);

3. Kore International Management (“Kore”) is an Ontario Corporation controlled by Petar Vucicevich (“Vucicevich”) that has a relationship with Sulja Nevada and Sulja Ontario;

4. Andrew DeVries (“DeVries”) and Vucicevich have a business relationship with Sulja Nevada and DeVries assisted Vucicevich with share distributions of Sulja Nevada;

5. Trading in shares of Sulja Nevada is being directed by Vucicevich and DeVries in nominee brokerage accounts in Ontario;

6. A prospectus receipt has not been issued for the Sulja Nevada securities, contrary to section 53 of the Securities Act, R.S.O., c. S.5, as amended (the “Act”);

7. Sulja Nevada, Vucicevich and DeVries may have participated in trades of common shares of Sulja Nevada resulting in a misleading appearance of trading activity and an artificial price level for the shares, contrary to Ontario securities law;

8. In or around August 2006, at the direction of Vucicevich and/or DeVries, Sulja Nevada issued press releases that contained misleading or untrue material statements in respect of Sulja Nevada’s relationship with PWC and KPMG, contrary to Ontario securities law; and

9. Staff are conducting an investigation into the trading of the securities of Sulja Nevada.

AND WHEREAS the Commission is of the opinion that the time required to conclude a hearing could be prejudicial to the public interest as set out in s. 127(5) of the Act;

AND WHEREAS the Commission is of the opinion that it is in the public interest to make this Order;

IT IS ORDERED that, pursuant to clause 2 of ss. 127(1) and ss. 127(5) of the Act, trading in the securities of Sulja Nevada cease;

IT IS FURTHER ORDERED that pursuant to clause 3 of ss. 127(1) of the Act, any exemptions contained in Ontario securities law do not apply to the Respondents ; and

IT IS FURTHER ORDERED that pursuant to ss. 127(6) of the Act, this Order shall take effect immediately and shall expire on the 15 th day after its making unless extended by Order of the Commission.

 

DATED at Toronto this 22 nd day of December, 2006.

David Wilson
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