Notice of Hearing: In the Matter of Newer Technologies Limited et al.

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

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IN THE MATTER OF NEWER TECHNOLOGIES LIMITED, RYAN PICKERING
AND RODGER FREY

NOTICE OF HEARING
(Sections 127 and 127.1)



    TAKE NOTICE THAT the Ontario Securities Commission (the "Commission") will hold a hearing pursuant to sections 127 and 127.1 of the Ontario Securities Act, R.S.O. 1990, c. S.5, as amended (the “Act”) at the temporary offices of the Commission, 333 Bay Street, Suite 900, Toronto, ON, M5H 2T4 on January 11, 2013 at 11:00 a.m., or as soon thereafter as the hearing can be held:

    TO CONSIDER whether, in the Commission’s opinion, it is in the public interest for the Commission to make the following orders against Newer Technologies Ltd (“NTL”), Ryan Pickering (“Pickering”) and Rodger Frey (“Frey”) (collectively the “Respondents”):

  1. that trading in any securities by the Respondents cease permanently or for such period as is specified by the Commission, pursuant to paragraph 2 of section 127(1) of the Act;
  2. that the acquisition of any securities by the Respondents is prohibited, permanently or for such other period as is specified by the Commission, pursuant to paragraph 2.1 of section 127(1) of the Act;
  3. that any exemptions contained in Ontario securities law do not apply to the Respondents permanently or for such period as is specified by the Commission, pursuant to paragraph 3 of section 127(1) of the Act;
  4. that the Respondents be reprimanded, pursuant to paragraph 6 of section 127(1) of the Act;
  5. that Pickering and Frey resign one or more positions that either holds as a director or officer of any issuer, registrant or investment fund manager, pursuant to paragraphs 7, 8.1 and 8.3 of section 127(1) of the Act;
  6. that Pickering and Frey be prohibited from becoming or acting as a director or officer of any issuer, a registrant or investment fund manager, pursuant to paragraphs 8, 8.2 and 8.4 of section 127(1) of the Act;
  7. that the Respondents be prohibited from becoming or acting as a registrant, as an investment fund manager or as a promoter, pursuant to paragraph 8.5 of section 127(1) of the Act;
  8. that each Respondent pay an administrative penalty of not more than $1 million for each failure by that Respondent to comply with Ontario securities law, pursuant to paragraph 9 of section 127(1) of the Act;
  9. that each of the Respondents disgorge to the Commission any amounts obtained as a result of non-compliance by that Respondent with Ontario securities law, pursuant to paragraph 10 of section 127(1) of the Act;
  10. that the Respondents be ordered to pay the costs of the Commission investigation and the hearing, pursuant to section 127.1 of the Act; and
  11. such other order as the Commission may deem appropriate.

    BY REASON OF the allegations as set out in the Statement of Allegations of Staff of the Commission dated December 4, 2012 and such additional allegations as counsel may advise and the Commission may permit;

    AND TAKE FURTHER NOTICE that any party to the proceedings may be represented by counsel at the hearing;

    AND TAKE FURTHER NOTICE that upon failure of any party to attend at the time and place aforesaid, the hearing may proceed in the absence of that party and such party is not entitled to any further notice of the proceedings.

    DATED at Toronto this 4th day of December, 2012

 

" John Stevenson "
John Stevenson