Order: In the Matter of First Global Ventures, S.A. et al.

      WHEREAS on December 14, 2007, the Ontario Securities Commission (the “Commission”) issued its Reasons and Decision on the merits regarding the respondents First Global Ventures, S.A. (“First Global”), Abraham Herbert Grossman (a.k.a. Allen Grossman) (“Grossman”) and Alan Marsh Shuman (a.k.a. Alan Marsh) (“Shuman”) (collectively, the “Respodnents”), in relation to an Amended Amended Statement of Allegations dated March 8, 2007, and an Amended Amended Notice of Hearing dated March 9, 2007;

      AND WHEREAS Grossman was represented by counsel, Kulidjian & Associates, at the hearing on the merits;

      AND WHEREAS the Commission in its Reasons and Decision directed the parties to file written submissions on sanctions and to set a date for hearing arguments on sanctions;

      AND WHEREAS written submissions on sanctions were filed by Staff on February 8, 2008, by Kulidjian & Associates on Grossman’s behalf on February 20, 2008, Staff filed written reply submissions on sanctions on February 28, 2008, and First Global and Shuman did not file any written submissions on sanctions;

      AND WHEREAS a hearing date to address sanctions was scheduled for April 30, 2008 at 10 a.m.;

      AND WHEREAS on April 10, 2008, the Commission was advised by Kulidjian & Associates that Kulidjian & Associates was no longer acting as solicitor for Grossman in the Commission proceeding, and the Commission was also provided with Grossman’s Notice of Intention to Act in Person before the Commission;

      AND WHEREAS on April 30, 2008, a hearing was held before a Panel and was attended by Grossman and Staff;

      AND WHEREAS at the hearing on April 30, 2008, Grossman requested an adjournment of the sanctions hearing in this matter;

      AND WHEREAS on April 30, 2008, the Panel heard submissions from Grossman and Staff with respect to the grounds upon which Grossman sought the adjournment of the hearing on sanctions;

      AND WHEREAS on April 30, 2008, the Panel ordered that: (1) the hearing on sanctions be adjourned until June 20, 2008 at 10 a.m.; (2) by no later than June 10, 2008, Grossman shall inform the Office of the Secretary in writing whether he wishes to withdraw the written submissions on sanctions filed by his former counsel and file with the Office of the Secretary any new written submissions on sanctions; and (3) Staff shall file any reply written submissions on sanctions by June 16, 2008;

      AND WHEREAS Grossman brought a motion returnable June 18, 2008 at 3:00 p.m. to request an adjournment of the sanctions hearing scheduled for June 20, 2008;

      AND WHEREAS on June 18, 2008 on the Panel heard submissions from Grossman and Staff with respect to the grounds upon which Grossman sought the adjournment of the hearing on sanctions;

      AND WHEREAS the Commission considers it to be in the public interest to make this order;

      IT IS HEREBY ORDERED that:

1. the sanctions hearing in this matter is adjourned to August 8, 2008 at 10:00 a.m.;
2. Grossman shall file his written submissions on sanctions no later than July 15, 2008;
3. Staff shall file any reply written submissions on sanctions by July 22, 2008.

      DATED at Toronto on this 26^th day of June, 2008.

“Wendell S. Wigle” Wendell S. Wigle, Q.C	“Suresh Thakrar” Suresh Thakrar, FICB
“Margot C. Howard” Margot C. Howard