Proceedings

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

AND

IN THE MATTER OF DAVID SINGH, JEFFREY LIPTON, INFINITY INVESTMENTCOUNSEL LTD. AND FORTUNE FINANCIAL CORPORATION

NOTICE OF HEARING

(Section 127)


TAKE NOTICE that the Ontario Securities Commission (the "Commission") will hold ahearing pursuant to section 127 of the Securities Act, R.S.O. 1990, c. S.5, as amended (the "Act") at its offices on the 8th Floor, 20 Queen Street West, Toronto, Ontario commencing on Tuesday the 19th day of January 1999, at 9:00 a.m. or as soon thereafter as the hearing can be held:

TO CONSIDER whether, pursuant to section 127(1) of the Act, it is in the publicinterest for the Commission:

(a) to make an order that the registration of one or more of the Respondents be terminated or suspended or restricted for such period as the Commission may order or that terms and conditions be imposed on their registration;

(b) to make an order that that the exemptions contained in Ontario securities law do not apply to the Respondents, David Singh and/or Jeffrey Lipton, permanently or for such time as the Commission may direct;

(c) to make an order that one or both of the Respondents, Infinity Investment Counsel Ltd. and Fortune Financial Corporation, submit to a review of their practices and procedures and institute such changes as may be ordered by the Commission;

(d) to make an order that one or more of the Respondents be reprimanded; and/or

(e) to make such other order as the Commission may deem appropriate;

BY REASON OF the allegations set out in the Statement of Allegations of Staff of the Enforcement Branch of the Commission and such additional allegations as counsel may advise and the Commission may permit;

AND TAKE NOTICE that at the hearing on January 19, 1999, the Commission will consider whether to approve a proposed settlement of this matter;

AND TAKE FURTHER NOTICE that any party to the proceeding may be represented by counsel if that party attends or submits evidence at the hearing;

AND TAKE FURTHER NOTICE that upon failure of any party to attend at the time and place aforesaid, the hearing may proceed in the absence of that party and such party is not entitled to any further notice of the proceeding.

DATED at Toronto this 13th day of January, 1999.


Daniel Iggers
Secretary to the Commission

TO:
David Singh
Fortune Financial Corporation
One Corporate Plaza
Suite 600
2075 Kennedy Road
Scarborough, Ontario
M1T 3V3

Jeffrey Lipton
Infinity Investment Counsel Ltd.
One Corporate Plaza
Suite 200
2075 Kennedy Road
Scarborough, Ontario
M1T 3V3

Infinity Investment Counsel Ltd.
One Corporate Plaza
Suite 200
2075 Kennedy Road
Scarborough, Ontario
M1T 3V3

Fortune Financial Corporation
One Corporate Plaza
Suite 600
2075 Kennedy Road
Scarborough, Ontario
M1T 3V3