Order: Nova Tech Ltd (Re)

IN THE MATTER OF
NOVA TECH LTD and CYNTHIA PETION

File No. 2023-20

December 3, 2024

ORDER

(Subsection 127(1) and section 127.1 of the Securities Act, RSO 1990, c S.5)

WHEREAS on October 2, 2024, the Capital Markets Tribunal held a hearing by videoconference, to consider the sanctions and costs that the Tribunal should impose on Nova Tech Ltd and Cynthia Petion as a result of the findings in the Reasons and Decision on the merits issued July 19, 2024;

ON READING the materials filed by the Ontario Securities Commission, and on hearing the submissions of the representative for the Commission and no one appearing on behalf of the respondents;

IT IS ORDERED THAT:

1. with respect to the respondents, Nova Tech and Petion:
   1. pursuant to paragraph 2 of s. 127(1) of the Act, trading in any securities by the respondents shall cease permanently;
   2. pursuant to paragraph 2.1 of s. 127(1) of the Act, the acquisition of any securities by the respondents is prohibited permanently;
   3. pursuant to paragraph 3 of s. 127(1) of the Act, any exemptions contained in Ontario securities law do not apply permanently to the respondents;
   4. pursuant to paragraph 8.5 of s. 127(1) of the Act, the respondents are permanently prohibited from becoming or acting as a registrant or a promoter;
   5. pursuant to paragraph 9 of s. 127(1) of the Act, the respondents shall jointly and severally pay to the Commission an administrative penalty of $2,500,000;
   6. pursuant to paragraph 10 of s. 127(1) of the Act, the respondents shall jointly and severally disgorge to the Commission $31,000; and
   7. pursuant to s. 127.1 of the Act, the respondents shall jointly and severally pay $193,333.52 to the Commission for the costs of the investigation and hearing; and
2. with respect to Petion:
   1. pursuant paragraph 7 of s. 127(1) of the Act, Petion shall resign any position that she holds as a director or officer of any issuer;
   2. pursuant to paragraph 8 of s. 127(1) the Act, Petion is permanently prohibited from becoming or acting as a director or officer of any issuer;
   3. pursuant to paragraph 8.1 of s. 127(1) of the Act, Petion shall resign any position that she holds as a director or officer of any registrant; and
   4. pursuant to paragraph 8.2 of s. 127(1) of the Act, Petion shall be prohibited permanently from becoming or acting as a director or officer of any registrant.