IN THE MATTER OF THE SECURITIES ACT
R.S.O. 1990, c. S.5 AS AMENDED
- and -
IN THE MATTER OF L. JEFFREY POGACHAR, PAOLA LOMBARDI, ALAN S.
PRICE, NEW LIFE CAPITAL CORP., NEW LIFE CAPITAL INVESTMENTS INC.,
NEW LIFE CAPITAL ADVANTAGE INC., NEW LIFE CAPITAL STRATEGIES INC.,
1660690 ONTARIO LTD., 2126375 ONTARIO INC., 2108375 ONTARIO INC., 2126533
ONTARIO INC., 2152042 ONTARIO INC., 2100228 ONTARIO INC. and
2173817 ONTARIO INC.
(Sections 127(1) and 127.1)
WHEREAS on November 8, 2010, the Ontario Securities Commission (the “Commission”) issued a Notice of Hearing pursuant to sections 127 and 127.1 of the Securities Act, R.S.O. 1990, c. S-5, as amended (the “Act”) to consider whether to approve a settlement agreement (the “Settlement Agreement”) entered into between Alan S. Price (“Price”) and Staff of the Commission (“Staff”) dated October 29, 2010.
AND WHEREAS Price and Staff entered into the Settlement Agreement dated October 29, 2010 in which they agreed to a settlement of the proceeding commenced by the Amended Notice of Hearing dated June 30, 2010, in respect of L. Jeffrey Pogachar, Paola Lombardi, Alan S. Price, New Life Capital Corp., New Life Capital Investments Inc., New Life Capital Advantage Inc., New Life Capital Strategies Inc., 1660690 Ontario Ltd., 2126375 Ontario Inc., 2108375 Ontario Inc., 2126533 Ontario Inc., 2152042 Ontario Inc., 2100228 Ontario Inc. and 2173817 Ontario Inc., subject to the approval of the Commission;
AND UPON reviewing the Settlement Agreement, the Amended Notice of Hearing and the Amended Statement of Allegations of Staff dated June 23, 2010, and upon hearing submissions from counsel for Staff and from the Respondent, Price;
AND WHEREAS the Commission is of the opinion that it is in the public interest to make this Order;
IT IS ORDERED THAT:
- the Settlement Agreement is approved;
- pursuant to clause 3 of section 127(1) of the Act, any exemptions contained in Ontario securities law do not apply to Price for three years;
- pursuant to clause 8 of subsection 127(1) of the Act, Price is prohibited from becoming or acting as a director or officer of any issuer permanently;
- pursuant to clause 8.5 of subsection 127(1) of the Act, Price is prohibited from the date of this Order from becoming or acting as a registrant;
- pursuant to section 127.1 of the Act, Price shall pay $1,500 to the Commission toward the costs of the investigation in this matter.
DATED at Toronto this 10th day of November, 2010.
“James D. Carnwath”
James D. Carnwath