| THE SECURITIES ACT | ) |
Order No. 5984 |
) |
||
| Sections 19(5), 148.1(1) and 148.2 | ) |
August 24, 2009 |
TRICLEAN ENTERPRISES INC.
WHEREAS:
(A) On October 6, 2008, The Manitoba Securities Commission (“Commission”) issued a Notice of Hearing (“Notice”), by reason of the allegations set out in the Statement of Allegations of staff of the Commission dated October 6, 2008 (“Statement of Allegations”), giving notice of its intention to hold a hearing to consider, inter alia, whether or not it was in the public interest to grant an order pursuant to subsection 19(5) of The Securities Act (“Act”) with respect to TRICLEAN ENTERPRISES INC. (“TRICLEAN”);
(B) On December 17, 2008, the Commission granted Order No. 5827 and the hearing of the matter was adjourned to June 1, 2009 through to June 5, 2009;
(C) On June 1, 2009 through to June 3, 2009, a hearing was held before a panel of the Commission;
(D) On August 18, 2009, the panel rendered its Decision;
(E) Upon reviewing the evidence and the submissions of counsel for staff of the Commission, no one appearing for the respondent, and upon reviewing the Affidavit of Service, filed, and being satisfied as to service upon the respondent, the Commission is of the opinion that it is in the public interest to make this order.
IT IS ORDERED:
1. THAT, pursuant to section 19(5) of the Act:
(a) subsection 19(1) of the Act does not, with respect to such trades referred to in that section, apply to TRICLEAN; and
(b) subsection 19(2) of the Act does not, with respect to such securities referred to in that section, apply to TRICLEAN,
permanently.
2. THAT pursuant to subsection 148.1(1) of the Act, TRICLEAN pay an administrative penalty of $25,000.
3. THAT pursuant to section 148.2 of the Act, TRICLEAN pay compensation for financial loss to Jamie McNabb in the amount of $15,000.
4. THAT pursuant to section 148.2 of the Act, TRICLEAN pay compensation for financial loss to Rick Mostert in the amount of $3,000.
5. THAT pursuant to section 148.2 of the Act, TRICLEAN pay compensation for financial loss to Dennis Burch in the amount of $3,000.
6. THAT pursuant to section 148.2 of the Act, TRICLEAN pay compensation for financial loss to Shawn Woods in the amount of $1,500.
7. THAT pursuant to section 148.2 of the Act, TRICLEAN pay compensation for financial loss to Alvin Zubko in the amount of $45,000.
8. THAT pursuant to section 148.2 of the Act, TRICLEAN pay compensation for financial loss to Norbert Parent in the amount of $15,000.
9. THAT pursuant to section 148.2 of the Act, TRICLEAN pay compensation for financial loss to Detlef Eissner in the amount of $100,000.
10. THAT pursuant to section 148.2 of the Act, TRICLEAN pay compensation for financial loss to John Penner in the amount of $12,000.
11. THAT pursuant to section 148.2 of the Act, TRICLEAN pay compensation for financial loss to Corey Thompson in the amount of $3,000.
12. THAT TRICLEAN pay to the Commission costs in the amount of $21,858.57.
BY ORDER OF THE COMMISSION
Deputy Director