IN THE MATTER OF
THE SECURITIES ACT, RSO 1990, c S.5
- and -
IN THE MATTER OF
OPTAM HOLDINGS INC.,
INFINIVEST MORTGAGE INVESTMENT CORPORATION,
and WADE ROBERT CLOSSON
- On October 18, 2016, Staff (“Staff”) of the Ontario Securities Commission (the “Commission”) filed a Statement of Allegations, in which Staff seeks an order against Optam Holdings Inc. (“Optam”), Infinivest Mortgage Investment Corporation (“Infinivest”) and Wade Robert Closson (“Closson”) (collectively, the “Respondents”), pursuant to subsections 127(1) and 127(10) of the Securities Act;
- On October 19, 2016, the Commission issued a Notice of Hearing in respect of that Statement of Allegations, setting November 16, 2016 as the date of the hearing;
- On November 11, 2016, Staff filed an affidavit of service sworn by Lee Crann on November 10, 2016, describing steps taken by Staff to serve the Respondents with the Notice of Hearing, Statement of Allegations and Staff’s disclosure materials;
- At the hearing on November 16, 2016:
- Staff appeared before the Commission and made submissions;
- the Respondents did not appear or make submissions, although properly served; and
- Staff applied to continue this proceeding by way of a written hearing, in accordance with Rule 11.5 of the Ontario Securities Commission Rules of Procedure (2014), 37 OSCB 4168, and subsection 5.1(1) of the Statutory Powers Procedure Act, RSO 1990, c S.22; and
- The Commission is of the opinion that it is in the public interest to make this order.
IT IS ORDERED THAT:
- Staff’s application to continue this proceeding by way of a written hearing is granted;
- Staff’s materials shall be served and filed no later than November 28, 2016;
- the Respondents’ responding materials, if any, shall be served and filed no later than January 16, 2017; and
- Staff's reply materials, if applicable, shall be served and filed no later than January 30, 2017.
DATED at Toronto this 16th day of November, 2016.
" Alan J. Lenczner "
Alan J. Lenczner, Q.C.
" Monica Kowal "
Monica Kowal, Vice-Chair