Securities Law & Instruments


Section 144 - revocation of cease trade order.

Statutes Cited

Securities Act, R.S.O. 1990, c. S.5, as am.

Regulations Cited

Regulation made under the Securities Act, R.R.O. 1990, Reg. 1015, as am.

Notices Cited

Ontario Securities Commission Notice 35 - Revocation of Cease Trade Orders (1995)18 OSCB 5.

R.S.O. 1990, CHAPTER S.5, AS AMENDED (the "ACT")



(Section 144)

WHEREAS the securities of Wastecorp International Investments Inc. ("Wastecorp")are subject to a Temporary Order of the Director dated July 31, 1996 and extended by theOrder of the Director dated August 12, 1996 made under the predecessor to section 127of the Act (collectively, the "Cease Trade Order") directing that trading in the securities ofWastecorp cease;

AND WHEREAS Wastecorp has made application to the Director (the "Director")of the Ontario Securities Commission (the "Commission") pursuant to section 144 of theAct for a revocation of the Cease Trade Order;

AND UPON considering the application and the recommendation of staff of theCommission;

AND UPON Wastercorp having represented to the Director as follows:

1. Wastecorp became a reporting issuer in the Province of Ontario on September 19,1988.

2. The authorized capital of Wastecorp consists of an unlimited number of commonshares and an unlimited number of Non-voting Class A preference shares, of which4,054,983 common shares were issued and outstanding as at November 30, 1999.

3. The common shares of Wastecorp are quoted but suspended from trading on theCanadian Dealing Network.

4. The Cease Trade Order was issued due to Wastecorp's failure to file interimfinancial statements for the three month period ended May 31, 1996 and auditedannual financial statements for the year ended February 28, 1996 as a result offinancial difficulties.

5. The audited annual consolidated financial statements for the financial years endedFebruary 29, 1996 to February 28, 1999, inclusive were mailed to the shareholdersof Wastecorp and filed with the Commission on January 21, 2000, and theunaudited interim consolidated financial statements for the three month periodsended May 31, 1999, August 31, 1999 and November 30, 1999 were mailed to theshareholders of Wastecorp and filed with the Commission on February 1, 2000.

6. Wastecorp is not considering, nor is it involved in any discussions relating to, areverse take-over or similar transaction.

7. Except for an order issued by the Commission on February 9, 1996 to cease tradethe securities of Wastecorp for failure to file interim financial statements for the yearended February 28, 1996 which was revoked on February 16, 1996, Wastecorp hasnot been subject to any other previous cease trade orders issued by theCommission.

8. Except for the current Cease Trade Order, Wastecorp is not in default of anyrequirement of the Act or the regulation made thereunder.

9. Wastecorp is not a "shell issuer" as that term is defined in the Staff Notice onRevocation of Cease Trade Orders, (1995) 18 OSCB 5.

AND UPON considering the application and the recommendation of staff of theCommission;

AND UPON the Director being satisfied that Wastecorp has now complied with thecontinuous disclosure requirements under Part XVIII of the Act and has remedied itsdefault in respect of such requirements;

AND UPON the Director being of the opinion that to do so would not be prejudicialto the public interest;

IT IS ORDERED pursuant to Section 144 of the Act, that the Cease Trade Order beand is hereby revoked.

March 27th, 2000.

"Margo Paul"