IN THE MATTER OF THE SECURITIES ACT
R.S.O. 1990, c. S.5, AS AMENDED
- and -
FUTURE SOLAR DEVELOPMENTS INC.,
CENITH ENERGY CORPORATION, CENITH AIR INC.,
ANGEL IMMIGRATION INC. and XUNDONG QIN also known as SAM QIN
(Subsections 127(1) and 127(8))
- on February 17, 2015, the Ontario Securities Commission (the “Commission”) issued a temporary cease trade order (the “Temporary Order”) pursuant to subsection 127(1) and 127(5) of the Securities Act, R.S.O. 1990, c. S.5, as amended (the “Act”) ordering the following:
- pursuant to paragraph 2 of subsection 127(1) of the Act, Future Solar Developments Inc. (“FSD”), Cenith Energy Corporation (“Cenith Energy”), Cenith Air Inc. (“Cenith Air”), Angel Immigration Inc. (“Angel Immigration”) (together the “Corporate Respondents”) and Xundong Qin (also known as Sam Qin) (“Qin”) (together with the Corporate Respondents, the “Respondents”) cease trading in all securities;
- pursuant to paragraph 2 of subsection 127(1) of the Act, all trading in the securities of FSD shall cease; and
- pursuant to paragraph 3 of subsection 127(1) of the Act, any exemptions contained in Ontario securities law do not apply to any of the Respondents;
- the Commission ordered that pursuant to subsection 127(6) of the Act, the Temporary Order shall expire on the fifteenth day after its making unless extended by order of the Commission;
- on February 19, 2015, the Commission issued a Notice of Hearing (the “Notice of Hearing”) to consider the extension of the Temporary Order, to be held on March 2, 2015 at 11:00 a.m.;
- Staff of the Commission (“Staff”) served the Respondents with copies of the Temporary Order, the Notice of Hearing and Staff’s supporting materials as evidenced by Affidavit of Service filed with the Commission;
- the Commission held a hearing on March 2, 2015 and counsel for Staff and Qin, on behalf of himself and behalf of the Corporate Respondents, attended the hearing;
- the Commission ordered that pursuant to subsections 127(1) and 127(8) of the Act, the Temporary is extended until June 12, 2015 and that the hearing of the matter is adjourned until June 8, 2015 at 3:00 p.m.;
- the Commission held a hearing on June 8, 2015, and counsel for Staff and counsel for the Respondents attended the hearing;
- counsel for the Respondents did not oppose an extension of the Temporary Order for a period of three months;
- the Panel considered the submissions of Staff and the Respondents and the Commission is of the opinion that it is in the public interest to make this order;
IT IS ORDERED that:
- pursuant to subsections 127(1) and 127(8) of the Act, the Temporary Order is extended until September 11, 2015, or until further order of the Commission; and
- the hearing of this matter is adjourned until September 9, 2015, 2015, at 10:00 a.m. or on such other date and time as provided by the Office of the Secretary and agreed to by the parties.
DATED at Toronto this 8th day of June, 2015.
"Mary Condon "