Securities Law & Instruments

IN THE MATTER OF THE SECURITIES ACT, RSO 1990, c S.5 AND IN THE MATTER OF OPTAM HOLDINGS INC., INFINIVEST MORTGAGE INVESTMENT CORPORATION, and WADE ROBERT CLOSSON

ORDER

WHEREAS:

1. On October 18, 2016, Staff of the Ontario Securities Commission filed a Statement of Allegations, in which Staff seeks an order against Optam Holdings Inc., Infinivest Mortgage Investment Corporation and Wade Robert Closson (collectively, the "Respondents"), pursuant to subsections 127(1) and 127(10) of the Securities Act (the "Act");

2. On October 19, 2016, the Commission issued a Notice of Hearing in respect of that Statement of Allegations, setting November 16, 2016 as the date of the hearing;

3. On November 11, 2016, Staff filed an affidavit of service sworn by Lee Crann, 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 16, 2016:

a. Staff appeared before the Commission and made submissions;

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

c. Staff 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

d. the Commission issued an Order (the "Order") granting Staff's application to continue to proceeding by way of written hearing and setting a schedule for the delivery of the parties' materials;

5. On November 25, 2016, Staff filed its Hearing Brief, Brief of Authorities and Factum in accordance with the schedule in the Order;

6. On December 1, 2016, Staff filed an affidavit of service sworn by Lee Crann, describing steps taken by Staff to serve the Respondents with the Order, Staff's Hearing Brief, Brief of Authorities and Factum;

7. The Respondents did not file responding materials although they were properly served with the Order and Staff's materials;

8. Pursuant to paragraph 4 of subsection 127(10) of the Act, an order made by a securities regulatory authority in any jurisdiction that imposes sanctions, conditions, restrictions or requirements on a person may form the basis for an order made under subsection 127(1) of the Act; and

9. The Commission is of the opinion that it is in the public interest to make this order;

IT IS ORDERED:

1. against Optam Holdings Inc. ("Optam") and Infinivest Mortgage Investment Corporation ("Infinivest") that:

a. pursuant to paragraph 2 of subsection 127(1) of the Act, trading in any securities of Optam or of Infinivest cease permanently;

b. pursuant to paragraph 2 of subsection 127(1) of the Act, trading in any securities or derivatives by Optam or by Infinivest cease permanently;

c. pursuant to paragraph 2.1 of subsection 127(1) of the Act, the acquisition of any securities by Optam or by Infinivest is prohibited permanently;

d. pursuant to paragraph 3 of subsection 127(1) of the Act, any exemptions contained in Ontario securities law do not apply to Optam or to Infinivest permanently; and

e. pursuant to paragraph 8.5 of subsection 127(1) of the Act, Optam and Infinivest are each prohibited permanently from becoming or acting as registrants, investment fund managers or promoters;

2. against Wade Robert Closson ("Closson") that:

a. pursuant to paragraph 2 of subsection 127(1) of the Act, trading in any securities or derivatives by Closson cease permanently;

b. pursuant to paragraph 2.1 of subsection 127(1) of the Act, the acquisition of any securities by Closson is prohibited permanently;

c. pursuant to paragraph 3 of subsection 127(1) of the Act, any exemptions contained in Ontario securities law do not apply to Closson permanently;

d. pursuant to paragraphs 7, 8.1 and 8.3 of subsection 127(1) of the Act, Closson resign any positions that he holds as a director or officer of any issuer, registrant or investment fund manager;

e. pursuant to paragraphs 8, 8.2 and 8.4 of subsection 127(1) of the Act, Closson is prohibited permanently from becoming or acting as a director or officer of any issuer, registrant or investment fund manager; and

f. pursuant to paragraph 8.5 of subsection 127(1) of the Act, Closson is prohibited permanently from becoming or acting as a registrant, investment fund manager or promoter.

DATED at Toronto this 1st day of March, 2017.

"Monical Kowal"
Vice-Chair