Securities Law & Instruments

Headnote

Cease-trade order revoked where the issuer hasremedied its default in respect of disclosure requirements underthe Act.

Statutes Cited

Securities Act, R.S.O. 1990, c. S.5, as am.,ss. 127(1)2, 127(5), 127(8), 144.

IN THE MATTER OF

THE SECURITIES ACT,

R.S.O. 1990, CHAPTER S.5,AS AMENDED (the "Act")

AND

IN THE MATTER OF

MEDX HEALTH CORP.

 

ORDER

(Section 144)

WHEREAS the securities of MedX HealthCorp. (the Corporation) currently are subject to a TemporaryOrder made by the Director on behalf of the Ontario SecuritiesCommission (the Commission) dated May 23, 2003 pursuant to paragraph2 of subsections 127(1) and 127(5) of the Act and extended bya further Order of the Director dated June 4, 2003 made undersubsection 127(8) of the Act (collectively, the Cease TradeOrder) directing that trading in the securities of the Corporationcease until the Cease Trade Order is revoked by a further orderof revocation;

AND WHEREAS the Cease Trade Order wasmade by reason of the Corporation's failure to file with theCommission its audited annual statements for the year endedDecember 31, 2002 (the Annual Financial Statements);

AND WHEREAS the Corporation has madean application to the Director pursuant to section 144 of theAct for a revocation of the Cease Trade Order;

AND WHEREAS the Corporation has representedto the Director that:

1. The Corporation was incorporated underthe Business Corporations Act (Ontario) on April 15,1999 and is a reporting issuer in the Provinces of Ontario,British Columbia, Alberta, Saskatchewan and Nova Scotia.

2. The Cease Trade Order was issued by reasonof the failure of the Corporation to file with the Commissionits Annual Financial Statements, as required by the Act.

3. The common shares of the Corporation werehalted from trading on June 4, 2003 for failure to meet itscontinuous disclosure requirements.

4. On June 20, 2003, the Corporation filedthe Annual Financial Statements and its interim financialstatements for the period ended March 31, 2003 with the Commissionthrough SEDAR. The Corporation has now brought its continuousdisclosure filings up-to-date.

5. The Corporation was subject to a ceasetrade order issued by the British Columbia Securities Commissionon June 3, 2003, which has been revoked.

AND UPON considering the applicationand the recommendation of the staff of the Commission;

AND UPON the Commission being of theopinion that to do so would not be prejudicial to the publicinterest;

IT IS ORDERED pursuant to section 144of the Act that the Cease Trade Order is revoked.

July 9, 2003.

"Charlie MacCready"