Securities Law & Instruments

IN THE MATTER OF THE SECURITIES ACT, RSO 1990, c S.5 AND IN THE MATTER OF AAOPTION, GALAXY INTERNATIONAL SOLUTIONS LTD. and DAVID ESHEL

ORDER

WHEREAS:

1. On October 26, 2016, Staff ("Staff") of the Ontario Securities Commission (the "Commission") filed a Statement of Allegations seeking an order against AAOption, Galaxy International Solutions Ltd. and David Eshel (collectively, the "Respondents"), pursuant to subsections 127(1) and 127(10) of the Securities Act, RSO 1990, c S.5;

2. On October 28, 2016, the Commission issued a Notice of Hearing in respect of that Statement of Allegations, setting November 23, 2016 as the date of the hearing;

3. On November 16, 2016, Staff filed an affidavit of service sworn by Lee Crann on the same day, describing steps taken by Staff to serve the Respondents with the Notice of Hearing, Statement of Allegations and Staff's disclosure materials;

4. On November 23, 2016, Staff appeared before the Commission and made submissions, the Respondents did not appear or make submissions, and the hearing in this matter was adjourned to December 7, 2016;

5. On December 1, 2016, Staff filed a supplementary affidavit of service sworn by Lee Crann on the same day, describing further steps taken by Staff to serve David Eshel with the Notice of Hearing, Statement of Allegations and Staff's disclosure materials;

6. On December 7, 2016, Staff appeared before the Commission and made submissions, the Respondents did not appear or make submissions, and the hearing in this matter was adjourned to January 19, 2017;

7. On January 16, 2017, Staff filed an affidavit of service sworn by Lee Crann the same day, describing further steps taken by Staff to serve David Eshel with the Notice of Hearing, Statement of Allegations, Staff's disclosure materials, and copies of the Commission's previous Orders in this matter; and

8. On January 19, 2017,

a. Staff appeared before the Commission, made submissions and applied to continue this proceeding by way of a written hearing, in accordance with Rule 11.5 of the Ontario Securities Commission Rules of Procedure (2014), 37 OSCB 4168, and subsection 5.1(1) of the Statutory Powers Procedure Act, RSO 1990, c S.22; and

b. the Respondents did not appear or make submissions, although properly served;

IT IS ORDERED THAT:

1. Staff's application to continue this proceeding by way of a written hearing is granted;

2. Staff's materials shall be served and filed no later than January 30, 2017;

3. The Respondents' responding materials, if any, shall be served and filed no later than February 27, 2017; and

4. Staff's reply materials, if any, shall be served and file no later than March 13, 2017.

DATED at Toronto this 20th day of January, 2017.

"Monica Kowal"
Vice-Chair