Order: In the Matter of Nova Tech Ltd

IN THE MATTER OF
NOVA TECH LTD

File No. 2023-6

March 2, 2023

ORDER

(Subsections 127(8) and 127(1) of the Securities Act, RSO 1990, c S.5)

WHEREAS on March 2, 2023, the Capital Markets Tribunal held a hearing by videoconference, to consider the Application filed by Enforcement Staff of the Commission (Staff) to extend the temporary order issued by the Commission on February 16, 2023;

ON READING the materials filed by Staff and on hearing the submissions of the representative for Staff, no one appearing for Nova Tech Ltd (Nova Tech), although properly served as appears from the Affidavits of Rita Pascuzzi affirmed on February 24 and February 28, 2023;

IT IS ORDERED, for reasons to follow, that until the earlier of 1) 10 days after the issuance of a Statement of Allegations naming Nova Tech as a respondent or 2) 6 months after the issuance of this Order:

1. pursuant to subsection 127(8) and paragraph 2 of subsection 127(1) of the Securities Act, all trading in any securities by or of Nova Tech, or by any person on their behalf, shall cease;
2.  pursuant to subsection 127(8) and paragraph 2.1 of subsection 127(1) of the Securities Act, the acquisition of any securities by Nova Tech shall cease; and
3. pursuant to subsection 127(8) and paragraph 3 of subsection 127(1) of the Securities Act, any exemptions contained in Ontario securities law do not apply to Nova Tech.