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

July 5, 2006


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

- AND -

IN THE MATTER OF
FIRST GLOBAL VENTURES, S.A.

and ALLEN GROSSMAN

TORONTO – Following a hearing held June 28, 2006, the Commission issued an Order that the Temporary Order against the respondent First Global Ventures, S.A. is extended until the conclusion of the hearing of this matter and that First Global Ventures, S.A. cease purchasing the names and addresses of potential investors from any company or person while subject to the Temporary Order

The Commission also issued a temporary order against Alan Marsh Shuman, that he cease trading in all securities and that exemptions contained in Ontario securities law do not apply to him.

The Commission adjourned the hearing to Thursday, July 13, 2006 at 2:30 p.m.

A copy of the Order is available at www.osc.gov.on.ca

OFFICE OF THE SECRETARY
JOHN P. STEVENSON
SECRETARY

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