IN THE MATTER OF THE SECURITIES ACT,
RSO 1990, c S.5
- and -
IN THE MATTER OF
LANCE KOTTON and TITAN EQUITY GROUP LTD.
- on November 6, 2015, the Ontario Securities Commission (the “Commission”) ordered pursuant to subsections 127(1) and (5) of the Securities Act, RSO 1990, c S.5 (the “Act”), that:
- pursuant to clause 2 of subsection 127(1) of the Act, trading in any securities by Lance Kotton (“Kotton”) and Titan Equity Group Ltd. (“TEG” and, together with Kotton, the “Respondents”) shall cease; and
- pursuant to clause 3 of subsection 127(1) of the Act, any exemptions contained in Ontario securities law do not apply to the Respondents
(the “Temporary Order”);
- the Commission further ordered that the Temporary Order shall take effect immediately and shall expire on the 15th day after its making unless extended by order of the Commission;
- on November 9, 2015, the Commission issued a Notice of Hearing providing notice that it would hold a hearing on November 19, 2015, to consider whether, pursuant to subsections 127(7) and 127(8) of the Act, it was in the public interest for the Commission to extend the Temporary Order until the conclusion of the hearing or until such further time as considered necessary by the Commission, and to make such further orders as the Commission considered appropriate;
- the Respondents consented to an extension of the Temporary Order until December 17, 2015, which order was further extended on consent until November 21, 2016;
- on November 18, 2016, Staff of the Commission (“Staff”) appeared before the Commission requesting that the Temporary Order be extended until April 21, 2017 and made submissions, with no one appearing for the Respondents (the “Extension Request”);
- On December 7, 2016, the Commission issued its Reasons and Decision on the Extension Request and extended the Temporary Order until February 7, 2017; and
- Staff is seeking a further extension of the Temporary Order as against Lance Kotton;
IT IS ORDERED that Staff’s request for a further extension of the Temporary Order will be heard at the offices of the Commission located at 20 Queen Street West, Toronto, Ontario, on February 6, 2017 at 10:00 a.m. or as soon thereafter as the hearing can be held.
DATED at Toronto, Ontario this 20th day of January, 2017.