Proceedings

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

AND

ROBERT PATRICK ZUK, DANE ALAN WALTON
DEREK REID, IVAN DJORDJEVIC,
DANIEL DAVID DANZIG,
and MATTHEW NOAH COLEMAN

ORDER

    WHEREAS on March 11, 2005 the Commission issued a Notice of Hearing pursuant to section 127 of the Securities Act (the “Act”) in respect of trading in the shares of Visa Gold Explorations Inc.;

    AND WHEREAS on March 11, 2005 Staff of the Commission filed a Statement of Allegations;

    AND WHEREAS on September 25, 2006 Staff of the Commission filed an Amended Statement of Allegations;

    AND WHEREAS Robert Patrick Zuk entered into a settlement agreement with Staff of the Commission dated February 26, 2007 (the “Settlement Agreement”), subject to approval by a panel of the Commission, in relation to the matters set out in the Amended Statement of Allegations;

    AND WHEREAS the Commission issued a Notice of Hearing setting out that it proposed to consider the Settlement Agreement;

    UPON reviewing the Settlement Agreement, the Notice of Hearing, the Statement of Allegations, and upon considering submissions from Robert Patrick Zuk and from Staff of the Commission;

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

    IT IS HEREBY ORDERED, PURSUANT TO SECTIONS 127 AND 127.1 OF THE ACT, THAT :

  1. the Settlement Agreement is hereby approved;
  2. Zuk is required to cease trading in securities for a period of 15 years from the date of the Order approving the Settlement. For greater certainty, the Order will pertain to all trading by Zuk, whether directly or indirectly, in any capacity whatsoever, or through nominee accounts;
  3. after an initial 3-year period, Zuk will be permitted trade in securities in one RRSP account, which he will identify in writing to the Director of Enforcement of the Commission and, in that RRSP account, Zuk will be permitted to trade in mutual fund units, guaranteed investment certificates, treasury bills, or debt instruments that cannot be converted (directly or indirectly) into shares;
  4. the exemptions contained in s. 35 of the Securities Act and OSC Rule 45.106 do not apply to Zuk for a period of 15 years from the date of the Order;
  5. Zuk will forthwith resign from any positions that he holds as officer and/or director of any reporting issuer; and
  6. Zuk will not act as a director or officer of a reporting issuer for a period of 15 years from the date of the Order.

Dated at Toronto, Ontario this 1 st day of March, 2007

“Suresh Thakrar”
Suresh Thakrar
“Carol S. Perry”
Carol S. Perry