Proceedings

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

– AND –

NORSHIELD ASSET MANAGEMENT (CANADA) LTD.,
OLMYPUS UNITED GROUP INC., JOHN XANTHOUDAKIS,
DALE SMITH AND PETER KEFALAS

ORDER


        WHEREAS on October 11, 2006, the Ontario Securities Commission (the “Commission”) issued a Notice of Hearing and Statement of Allegations with respect to this matter;

        AND WHEREAS the first appearance before the Commission with respect to this matter was held on October 20, 2006 at which Staff of the Commission (“Staff”) and counsel for the individual Respondents were in attendance and provided the Commission with a status report as to the proceeding;

        AND WHEREAS the second appearance with respect to this matter was held before the Commission on January 15, 2007 at which Staff of the Commission and counsel for the individual Respondents were in attendance and provided the Commission with a status report as to the proceeding;

        AND WHEREAS Staff and counsel for all of the Respondents consent to attend before the Commission on April 4, 2007 at 9:00 a.m. to provide a further status report to the Commission;

        AND WHEREAS Staff and counsel for all of the Respondents consent to the making of this Order;

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

        IT IS HEREBY ORDERED that the next appearance with respect to this matter shall take place on April 4, 2007 at 9:00 a.m. at the offices of the Commission.

DATED at Toronto this 15th day of January, 2007.

"Wendell S. Wigle"
Wendell S. Wigle
"David L. Knight"
David L. Knight