Proceedings

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

- AND -

IN THE MATTER OF

RICHVALE RESOURCE CORPORATION, MARVIN WINICK,
HOWARD BLUMENFELD, JOHN COLONNA, PASQUALE SCHIAVONE,
and SHAFI KHAN

ORDER
(Subsections 127(1) and 127(8))



    WHEREAS the hearing on the merits in this matter was scheduled to commence on October 17, 2011, at 10:00 a.m. and continue each day through to October 24, 2011, and from October 26, 2011, each day through to October 31, 2011, or as soon thereafter as may be fixed by the Secretary to the Commission;

    AND WHEREAS on October 14, 2011, the Commission approved Settlement Agreements entered into by Staff and John Colonna, Shafi Khan, Marvin Winick and Howard Blumenfeld, respectively;

    AND WHEREAS on October 14, 2011, the hearing on the merits was adjourned to October 20, 2011, to give Staff an opportunity to prepare materials for a Written Hearing pursuant to Rule 11 of the Ontario Securities Commission Rules of Procedure against the remaining respondents, Pasquale Schiavone (“Schiavone”) and Richvale Resource Corporation (“Richvale”);

    AND WHEREAS on October 18, 2011, Staff were contacted by Schiavone, who advised he had now retained counsel;

    AND WHEREAS Staff have previously been unable to engage in substantive settlement discussions with Schiavone because he was unrepresented and in the process of retaining counsel;

    AND WHEREAS Staff request the opportunity to engage in discussions with Schiavone through his counsel;

    AND WHEREAS Staff contacted Schiavone’s counsel and he consents to the adjournment for this purpose;

    AND WHEREAS Richvale has been served with notice of this request in the person of Schiavone, the President and sole remaining Director;

    AND WHEREAS the Commission has considered the written submission of Staff in the form of a letter, dated October 19, 2011;

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

    IT IS ORDERED that the hearing with respect to Staff’s Allegations is adjourned to October 26, 2011, at 10:00 a.m.

 

DATED at Toronto this 19th day of October, 2011.

 

" Edward P. Kerwin "
Edward P. Kerwin