Proceedings

Notice from the
Office of the Secretary

Ontario

Ontario Securities
Commission


20 Queen St. W.
Box 55, Suite 1900
Toronto, ON M5H 3S8
Commission des valeurs mobilières de l'Ontario

FOR IMMEDIATE RELEASE

June 21, 2006


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

- AND -

IN THE MATTER OF

PORTUS ALTERNATIVE ASSET MANAGEMENT INC.,
PORTUS ASSET MANAGEMENT INC.,

BOAZ MANOR, MICHAEL MENDELSON,
MICHAEL LABANOWICH AND JOHN OGG

(Sections 127 and 127.1 of the Act)

TORONTO – Further to a hearing held on June 16, 2006, the Commission issued an Order adjourning the proceeding against the respondents under sections 127 and 127.1 of the Securities Act, until a judgment is rendered in respect of the proceeding initiated against Boaz Manor and Michael Mendelson pursuant to section 122 of the Act.

The respondents have provided undertakings to the Commission which are attached to the Order and have agreed to adhere to such undertakings until the Commission’s final decision on the merits and sanctions has been rendered or until further order of the Commission releasing them from their undertakings or aspects thereof.

A copy of the Order and undertakings are available at www.osc.gov.on.ca

OFFICE OF THE SECRETARY
JOHN P. STEVENSON
SECRETARY

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