Statement of Allegations: In the Matter of Doug De Boer et al.

Statement of Allegations

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

AND

IN THE MATTER OF
DOUG DE BOER, BOUGAINVILLEA HOLDINGS INC.,
PAT HICKEY AND EISE DE BOER

STATEMENT OF ALLEGATIONS OF STAFF
OF THE ONTARIO SECURITIES COMMISSION

 

Staff of the Ontario Securities Commission ("Staff") make the following allegations:

1. GDL Evergreen Inc. ("GDL") is incorporated under the laws of Canada. GDL is areporting issuer in Ontario.

2. Each of Doug De Boer, Bougainvillea Holdings Inc., Pat Hickey and Eise de Boer(individually, a "Respondent" and collectively, the "Respondents") is, or was duringthe financial year of GDL ended December 31, 1999 a director, officer, significantshareholder (beneficial ownership of 10% or more of the voting rights of GDL) orindividual that has, or may have, access to material undisclosed information.

3. GDL failed to file annual financial statements for its financial year ended December31, 1999 (the "Financial Statements") on or before May 19, 2000, contrary tosubsection 78(1) of the Securities Act (Ontario).

4. By virtue of his/her/its relationship, each Respondent has, or may have, access toinformation regarding the affairs of GDL that has not been generally disclosed.

5. It would be prejudicial to the public interest to allow the Respondents to trade in thesecurities of GDL until such time as all disclosure required by Ontario securities lawhas been made by GDL.

6. It is therefore in the public interest for the Commission to order that all trading,whether direct or indirect, in the securities of GDL by the Respondents cease untilsuch time as GDL has made all filings it is required to make under Ontario securitieslaw.