IN THE MATTER OF THE SECURITIES ACT
R.S.O. 1990, c. S.5, AS AMENDED
- and -
IN THE MATTER OF
NUVO RESEARCH INC. AND REBECCA E. KEELER
O R D E R
(Section 127 and 127.1)
WHEREAS on April 24, 2007, the Ontario Securities Commission (the “Commission”) issued a Notice of Hearing pursuant to sections 127 and 127.1 of the Securities Act, R.S.O. 1990, c. S.5, as amended (the “Act”), in respect of Nuvo Research Inc. (formerly Dimethaid Research Inc. and hereinafter referred to as “Dimethaid”) and Rebecca E. Keeler.
AND WHEREAS on April 24, 2007, Staff of the Commission (“Staff”) filed a Statement of Allegations in respect of the Respondents;
AND WHEREAS Dimethaid entered into a settlement agreement with Staff of the Commission (“Staff”) dated April 24, 2007 (the “Settlement Agreement”) in which it agreed to a proposed settlement of the proceeding commenced by the Notice of Hearing, subject to the approval of the Commission;
AND WHEREAS Staff recommend approval of the Settlement Agreement;
AND UPON reviewing the Settlement Agreement and the Notice of Hearing, and upon hearing submissions of Staff and counsel for Dimethaid;
AND WHEREAS the Commission is of the opinion that it is in the public interest to make this Order;
IT IS HEREBY ORDERED PURSUANT TO SECTIONS 127 AND 127.1 OF THE ACT, THAT:
1. the Settlement Agreement is hereby approved;
2. pursuant to paragraph 4 of subsection 127(1) of the Act, within 30 days from the date of this Order, Dimethaid shall initiate a review of its disclosure and reporting practices and procedures by an independent third party, acceptable to both Dimethaid and Staff, at the expense of Dimethaid ;
3. pursuant to paragraph 4 of subsection 127(1) of the Act, Dimethaid will implement any recommendations made by the independent third party that are approved by Staff, within a reasonable period of time as approved by Staff; and
4. Dimethaid shall forthwith pay $15,000 toward the costs of the investigation of this matter.
DATED at Toronto this 26 th day of April, 2007.
“Wendell S. Wigle”
Wendell S. Wigle
“Paul K. Bates”
Paul K. Bates