Securities Law & Instruments

IN THE MATTER OF

THE SECURITIES ACT,

R.S.O. 1990, c. S.5, AS AMENDED

AND

IN THE MATTER OF

FIRESTAR CAPITAL MANAGEMENT CORP.,

KAMPOSSE FINANCIAL CORP.,

FIRESTAR INVESTMENT MANAGEMENT GROUP,

MICHAEL CIAVARELLA AND MICHAEL MITTON

 

TEMPORARY ORDER

(Section 127)

WHEREAS it appears to the Ontario Securities Commission that:

1. Michael Ciavarella ("Ciavarella") is an individual residing in Ontario who has been trading shares in Pender International Inc. ("Pender") in accounts in his name at HSBC Securities (Canada) Inc., Desjardin Securities Inc. and TD Securities Inc.;

2. Staff of the Commission are conducting an investigation into Ciavarella's trading in the shares of Pender, and based on the information collected by Staff to date, it appears that Ciavarella is trading shares of Pender with related accounts in a way that may be artificially increasing the share price of Pender;

3. The Commission is of the opinion that it is in the public interest to make this Order; and

4. The Commission is of the opinion that the length of time required to conclude a hearing in this matter could be prejudicial to the public interest.

AND WHEREAS by Commission order made March 15, 2004, pursuant to ss.3.5(3) of the Act, anyone of David A. Brown, Paul Moore and Susan Wolburgh Jenah acting alone is authorized to make orders under s.127 of the Act;

IT IS THEREFORE ORDERED that, pursuant to clause 2 of section 127(1) of the Act, trading in securities of Pender by Ciavarella cease.

IT IS FURTHER ORDERED that, pursuant to section 127(6) of the Act, this order shall take effect immediately and shall expire on the 15th day after its making unless extended by the Commission.

December 10, 2004.

"David Brown"