IN THE MATTER OF THE SECURITIES ACT, RSO 1990, c S.5 AND IN THE MATTER OF LANCE KOTTON
TEMPORARY ORDER (Subsections 127(7) and (8))
1. 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:
(a) pursuant to clause 2 of subsection 127(1) of the Act, trading in any securities by Lance Kotton ("Kotton") shall cease; and
(b) pursuant to clause 3 of subsection 127(1) of the Act, any exemptions contained in Ontario securities law do not apply to Kotton;
(the "Temporary Order");
2. 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;
3. 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 is 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 considers appropriate;
4. Kotton consented to an extension of the Temporary Order until December 17, 2015, which order was further extended until March 3, 2017;
5. on March 1, 2017, Staff of the Commission and counsel for Kotton appeared before the Commission requesting that the Temporary Order be extended on consent as against Kotton until April 6, 2017, and made submissions; and
6. the Commission is of the opinion that it is in the public interest to make this Order;
IT IS ORDERED that:
1. the Temporary Order is extended as against Kotton until April 6, 2017; and
2. the hearing of this matter is adjourned until April 5, 2017 at 10:00 a.m., or such other date and time as provided by the Office of the Secretary and agreed to by the parties.
DATED at Toronto, Ontario this 1st day of March, 2017.