Order: In the Matter of Michael Omer Bourgon

IN THE MATTER OF

THE SECURITIES ACT

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

AND

IN THE MATTER OF

MICHAEL OMER BOURGON

ORDER

(Section 127)

WHEREAS on January 15, 2001, the Ontario Securities Commission (the "Commission") issued a notice of hearing pursuant to subsection 127(1) of the Securities Act, R.S.O. 1990, Chap. S.5, as amended (the "Act"), in respect of Michael Omer Bourgon ("Bourgon");

AND WHEREAS Bourgon entered into a settlement agreement, dated November 23, 2001 (the "Settlement Agreement") in which he agreed to a proposed settlement of the proceeding, subject to the approval of the Commission;

AND UPON reviewing the Settlement Agreement and the Statement of Allegations of Staff of the Commission, and upon hearing the submissions of Bourgon and of counsel for Staff of the Commission;

AND WHEREAS the Commission is of the opinion that it is in the public interest to make this Order;

IT IS HEREBY ORDERED THAT:

(1) the Settlement Agreement, dated November 23, 2001, a copy of which is attached to this Order, is approved;

(2) pursuant to clause 1 of subsection 127(1) of the Act, Bourgon's registration is terminated permanently;

(3) pursuant to clause 2 of subsection 127(1) of the Act, Bourgon shall permanently cease trading in all securities for his own account or for the account of, or on behalf of, any other person or party, effective as of the date of this Order;

(4) pursuant to clause 7 of subsection 127(1) of the Act, Bourgon is ordered to resign any positions which he holds as a director or officer of any issuer, effective as of the date of this Order;

(5) pursuant to clause 8 of subsection 127(1) of the Act, Bourgon is permanently prohibited from becoming or acting as a director or officer of any issuer, effective as of the date of this Order.

(6) pursuant to subsection 127.1(1) and (2) of the Act, Bourgon shall pay $5,000 in satisfaction of the Commission's costs of its investigation and this proceeding.

November 26, 2001.