CML Global Capital Ltd. - s. 83 of the Act

Headnote

Issuer deemed to have ceased to be reporting issuer under the Act.

Applicable Ontario Statutory Provisions

Securities Act, R.S.O. 1990, c. S.5, as am., ss. 1(1), 6(3) and 83.

January 14, 2004

Dear Mr. Wolfenberg:

The Applicant has applied to the Ontario Securities Commission (the "Commission") for an order under section 83 of the Act to be deemed to have ceased to be a reporting issuer.

As the Applicant has represented to the Commission that:

1. The outstanding securities of the Applicant, including debt securities, are beneficially owned, directly or indirectly, by less than 15 security holders in Ontario and less than 51 securityholders in Canada;

2. No securities of the Applicant are traded on a marketplace as defined in National Instrument 21-101;

3 The Applicant is not in default of any of its obligations under the Legislation as a reporting issuer; and

4. The Applicant will not be a reporting issuer or the equivalent in any jurisdiction in Canada immediately following the Director granting the relief requested.

The Decision Maker is satisfied that it would not be prejudicial to the public interest to grant the requested relied and orders that the Applicant is deemed to have ceased to be a reporting issuer.