Temporary Order: In the Matter of Ground Wealth Inc. et al.

Order
Download PDF

 


PDF Version

 

 

 

 

 

IN THE MATTER OF THE SECURITIES ACT,
R.S.O. 1990, c. S.5 AS AMENDED

- and -

GROUND WEALTH INC., ARMADILLO ENERGY INC., PAUL SCHUETT,
DOUG DEBOER, JAMES LINDE, SUSAN LAWSON, MICHELLE DUNK,
ADRION SMITH, BIANCA SOTO AND TERRY REICHERT

TEMPORARY ORDER
(Subsections 127(7) & 127(8))

 

 

 

 

 

 

WHEREAS the Ontario Securities Commission (the “Commission”) issued a temporary order on July 27, 2011 (the “Temporary Order”) pursuant to subsections 127(1) and 127(5) of the Securities Act, R.S.O. 1990, c. S.5, as amended (the “Act”) that:

 

 

1. pursuant to paragraph 2 of subsection 127(1), all trading in the securities of Armadillo Energy Inc. (“the Armadillo Securities”) shall cease;
2. pursuant to paragraph 2 of subsection 127(1), Armadillo Energy Inc. (“Armadillo), Ground Wealth Inc. (“GWI”), Paul Schuett (“Schuett”), Doug DeBoer (“DeBoer”), James Linde (“Linde”), Susan Lawson (“Lawson”), Michelle Dunk (“Dunk”), Adrion Smith (“Smith”), Bianca Soto (“Soto”) and Terry Reichert (“Reichert”) (collectively, the “Respondents”) shall cease trading in all securities; and
3. pursuant to subsection 127(6), the Temporary Order shall take effect immediately and shall expire on the fifteenth day after its making unless extended by order of the Commission;

AND WHEREAS on August 11, 2011, the Commission held a hearing to consider whether it was in the public interest to extend the Temporary Order, and heard submissions from Staff of the Commission (“Staff”) and counsel for the Respondents;

AND WHEREAS on August 11, 2011, the Commission extended the Temporary Order to February 13, 2012 (the “Amended Temporary Order”) on the same terms and conditions as provided for in the Temporary Order; provided that the Temporary Order shall not prevent a Respondent from trading for the Respondent’s own account, solely through a registered dealer or a registered dealer in a foreign jurisdiction (which dealer must be given a copy of the Amended Temporary Order), in (a) any “exchange traded security” or “foreign exchange traded security” within the meaning of National Instrument 21-101, provided the Respondent does not own beneficially or exercise control or direction over more than 5 per cent of the voting or equity securities of the issuer of any such securities, or (b) any security issued by a mutual fund that is a reporting issuer; and provided the Respondent provides Staff with the particulars of the accounts in which such trading is to occur before any trading in such accounts occurs;

AND WHEREAS on February 8, 2012, the Commission held a hearing to consider whether it was in the public interest to extend the Amended Temporary Order pursuant to subsections 127(7) and 127(8), and heard submissions from Staff and from counsel for the Respondents;

AND WHEREAS on February 8, 2012, the Commission extended the Amended Temporary Order to August 8, 2012 (the “February 2012 Temporary Order”) on the following terms: pursuant to paragraph 2 of subsection 127(1), all trading in the Armadillo Securities shall cease; pursuant to paragraph 2 of subsection 127(1), the Respondents shall cease trading in Armadillo Securities and/or in securities of a nature similar to Armadillo Securities, which are securities evidencing an interest in the production of barrels of oil still in the ground; and this Order shall not prevent Staff from applying to the Commission for a variation of this Order if Staff considers that doing so is in the public interest;

AND WHEREAS on August 2, 2012, the Commission held a hearing to consider whether it was in the public interest to extend the February 2012 Temporary Order pursuant to subsections 127(7) and 127(8), and heard submissions from Staff and from counsel for the Respondents;

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

IT IS HEREBY ORDERED pursuant to subsections 127(7) & 127(8) of the Act that:

  1. the February 2012 Temporary Order is extended to February 4, 2013, or until further order of the Commission; and
  2. the matter shall return before the Commission on February 1, 2013 at 10:00 a.m. or on such other date as set by the Office of the Secretary and agreed to by the parties.

 

 

DATED at Toronto this 2nd day of August, 2012

 

" James E. A. Turner "
James E. A. Turner