Notice of Hearing: In the Matter of Serafino Iacono et al.

TAKE NOTICE that the Ontario Securities Commission (the "Commission") will hold ahearing pursuant to section 127 of the Securities Act, R.S.O. 1990, c. S.5, as amended (the"Act") at 20 Dundas Street West, 7^th floor, Hearing Room D (offices of the Alcohol and GamingCommission), Toronto, Ontario commencing on the 21^st day of June, at 12:00pm.

TO CONSIDER whether, pursuant to section 127(1) of the Act, it is in the public interestfor the Commission to make an order:

(i) that trading, whether direct or indirect, in securities of Chivor Emerald Corporation Ltd. byany of the respondents cease permanently or for such period as the Commission maydetermine; and/or

(ii) such other order as the Commission may deem appropriate;

BY REASON OF the allegations set out in the Statement of Allegations of Staff of theCommission and such additional allegations as the Commission may permit;

AND TAKE FURTHER NOTICE that any party to the proceeding may be represented bycounsel if that party attends or submits evidence at the hearing;

AND TAKE FURTHER NOTICE that upon failure of any party to attend at the time andplace aforesaid, the hearing may proceed in the absence of that party and such party is notentitled to any further notice of the proceeding.

June 7^th, 2000.

"John Stevenson"