Proceedings

 

IN THE MATTER OF THE SECURITIES ACT
R.S.O. 1990, c. S.5, AS AMENDED (the "Act")

AND

IN THE MATTER OF
HUBERT J. MOCKLER, KENNETH J. MURTON, ROBERT E. BELLAMY, PAUL F. BLACK, MICHAEL W. MANLEY,FREDERICK KNIGHT, STEPHEN R. SHAVER, FRANCISCO F. VIDAL, DOUGLAS A. MACKENZIE AND RODERICK CHISHOLM

ORDER
(Section 127)

WHEREAS on June 9, 2000 the Ontario Securities Commission (the "Commission")made a temporary order pursuant to subsection 127(5) of the Act, that none of theRespondents shall trade in any securities of Canuc Resources Corporation ("Canuc"),subject to the terms set out in the order, for a period of 15 days from the date of the order;

AND WHEREAS on June 9, 2000 the Commission issued a Notice of Hearingpursuant to subsection 127(9) of the Act;

AND WHEREAS it appears to the Commission that:

1. Canuc is incorporated under the laws of Canada and is a reporting issuer in theProvince of Ontario.

2. Each of Hubert J. Mockler, Kenneth J. Murton, Robert E. Bellamy, Paul F. Black,Michael W. Manley, Frederick Knight, Stephen R. Shaver, Francisco F. Vidal,Douglas A. Mackenzie and Roderick Chisholm (the "Respondents") is, or wasduring the financial year of Canuc ended December 31, 1999, a director, officer orsignificant shareholder (beneficial ownership of 10% or more of the voting rights ofCanuc) or individual that has, or may have, access to material undisclosedinformation of Canuc.

3. Canuc failed to file annual financial statements for its financial year endedDecember 31, 1999 (the "1999 Financial Statements") on or before May 19, 2000,contrary to subsection 78(1) of the Act.

4. Canuc failed to file interim financial statements for the three months ended March31, 2000 (the "Interim Financial Statements") on or before May 30, 2000, contraryto subsection 77(1) of the Act.

5. As of the date of this order, Canuc has not filed its 1999 Financial Statements or itsInterim Financial Statements.

AND WHEREAS the Commission is of the opinion that it is in the public interest tomake this Order;

IT IS ORDERED pursuant to paragraph 2 of subsection 127(1) of the Act that alltrading by the Respondents in the securities of Canuc shall cease until:

(a) two full business days following the receipt by the Commission of all filings Canucis required to make pursuant to Ontario securities law; or

(b) further order of the Commission.

June 23rd, 2000.

"J. A. Geller"
"Morley P. Carscallen"
"R. Stephen Paddon"