IN THE MATTER OF THE SECURITIES ACT,
R.S.O. 1990, c. S.5, AS AMENDED
- AND -
AMERON OIL AND GAS LTD. and MX-IV, LTD.
(Subsections 127(7) and 127(8))
WHEREAS on April 6, 2010, the Ontario Securities Commission (the "Commission") issued a temporary cease trade order pursuant to subsections 127(1) and 127(5) of the Securities Act, R.S.O. 1990, c. S.5, as amended (the "Act") ordering: that all trading in the securities of MX-IV, Ltd. shall cease; that Ameron Oil and Gas Ltd., MX-IV, Ltd. and their representatives, cease trading in all securities; and that any exemptions contained in Ontario securities law do not apply to Ameron Oil and Gas Ltd. and MX-IV, Ltd. (the “Temporary Order”);
AND WHEREAS, on April 6, 2010, the Commission ordered that the Temporary Order shall expire on the 15th day after its making unless extended by order of the Commission;
AND WHEREAS on April 8, 2010, the Commission issued a Notice of Hearing to consider, among other things, the extension of the Temporary Order, to be held on April 20, 2010 at 2:00 p.m.;
AND WHEREAS the Notice of Hearing set out that the Hearing is to consider, inter alia, whether, in the opinion of the Commission, it is in the public interest, pursuant to subsections 127 (7) and (8) of the Act, to extend the Temporary Order until the conclusion of the hearing, or until such further time as considered necessary by the Commission;
AND WHEREAS on April 20, 2010, a hearing was held before the Commission and Ameron Oil and Gas Ltd. and MX-IV, Ltd. did not appear before the Commission to oppose Staff of the Commission’s (“Staff”) request for the extension of the Temporary Order;
AND WHEREAS on April 20, 2010, the Commission was satisfied that Staff had served each of the respondents with copies of the Temporary Order, the Notice of Hearing, and the Evidence Brief of Staff as evidenced by the Affidavit of Kathleen McMillan, sworn on April 19, 2010, and filed with the Commission;
AND WHEREAS on April 20, 2010, the Commission considered the evidence and submissions before it and the Commission was of the opinion that: in the absence of a continuing cease-trade order, the length of time required to conclude a hearing could be prejudicial to the public interest; and, it was in the public interest to extend the Temporary Order;
IT IS HEREBY ORDERED, pursuant to subsections 127 (7) and (8) of the Act that the Temporary Order is extended to October 14, 2010; and,
IT IS FURTHER ORDERED that the hearing in this matter is adjourned to October 13, 2010, at 10:00 a.m.
DATED at Toronto this 20th day of April, 2010.
“Mary G. Condon"
Mary G. Condon