IN THE MATTER OF THE SECURITIES ACT, R.S.O. 1990, c. S.5, AS AMENDED AND IN THE MATTER OF TRICOASTAL CAPITAL PARTNERS LLC, TRICOASTAL CAPITAL MANAGEMENT LTD. and KEITH MACDONALD SUMMERS
TEMPORARY ORDER (Subsections 127(1) & 127(8))
WHEREAS on July 25, 2013, the Ontario Securities Commission (the "Commission") issued a temporary cease trade order (the "Temporary Order") pursuant to subsections 127(1) and 127(5) of the Securities Act, R.S.O. 1990, c. S.5, as amended (the "Act") ordering the following:
1. pursuant to clause 2 of subsection 127(1) and subsection 127(5) of the Act that all trading in any securities by Keith MacDonald Summers ("Summers"), Tricoastal Capital Partners LLC ("Tricoastal Partners") and Tricoastal Capital Management Ltd. ("Tricoastal Capital") (collectively, the "Respondents") or their agents shall cease; and
2. pursuant to clause 3 of subsection 127(1) and subsection 127(5) of the Act that the exemptions contained in Ontario securities law do not apply to the Respondents or their agents;
AND WHEREAS on August 6, 2013, the Commission ordered pursuant to subsection 127(8) of the Act, that the Temporary Order is extended until February 5, 2014, or until further order of the Commission;
AND WHEREAS Staff of the Commission ("Staff") appeared on February 3, 2014 and advised that counsel for the Respondents consented to a further six month extension of the Temporary Order;
AND WHEREAS the Commission ordered that the Temporary Order extended until August 8, 2014 and that the hearing of the matter was adjourned to August 6, 2014;
AND WHEREAS Staff and counsel for the Respondents appeared at a status update on June 2, 2014 at 11:00 a.m.;
AND WHEREAS after considering submissions from Staff and counsel for the Respondents, the Commission is of the opinion that it is in the public interest to make this order;
IT IS HEREBY ORDERED that the August 6, 2014 hearing date for the continuation of the Temporary Order is vacated;
IT IS FURTHER ORDERED that the Temporary Order is extended until September 11, 2014 or until further order of the Commission;
IT IS FURTHER ORDERED that the hearing of this matter is adjourned to September 9, 2014 at 3:00 p.m. or to such other date or time as provided by the Office of the Secretary and agreed to by the parties.
DATED at Toronto this 3rd day of June, 2014.