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.,
OLYMPUS UNITED GROUP INC., JOHN XANTHOUDAKIS,
DALE SMITH AND PETER KEFALAS


ORDER
(Section 127 of the Securities Act)


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

     AND WHEREAS a pre-hearing motion for an adjournment of the hearing date currently scheduled to commence on May 5, 2008 pending production and review of documents in the possession of the Receiver, RSM Richter Inc., (“Richter”) was to be heard by the Commission on February 7 and 8, 2008 (the “Motion”);

     AND WHEREAS Richter has advised that it is taking steps that may make such production possible;

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

     AND UPON hearing the submissions from counsel to the individual Respondents and counsel for Staff;

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

     IT IS HEREBY ORDERED that this motion is adjourned to a date to be arranged by the Secretary of the Commission, but no later than March 26, 2008 at 10:00 a.m., at the offices of the Commission.

     DATED at Toronto this 7th day of February, 2008.



Wendell S. Wigle

Wendell S. Wigle, Q.C.
 
David L. Knight

David L. Knight, FCA