NOTICE OF HEARING

            TAKE NOTICE that The Manitoba Securities Commission (“Commission”) will hold a public hearing (“Hearing”) at its offices at Room 500 - 400 St. Mary Avenue, Winnipeg, Manitoba on Wednesday, the 18^th day of November, 2015 commencing at 9:30 o’clock in the forenoon or so soon thereafter as the Hearing can be held, and from day to day thereafter until the Hearing is concluded, to consider pursuant to section 148.4 of The Securities Act, R.S.M. 1988, c. S50 as amended (“Act”):

1.            whether or not it is in the public interest to order, pursuant to section 148 of the Act, that Raj Babber (“BABBER”) and/or Greg Goutis (“GOUTIS”) be cease traded;

2.            whether or not it is in the public interest to order, pursuant to section 148 of the Act, that all trading in securities by and of Mortgage Company of Canada Inc. (“MCOCI”), MCC Asset Management Inc. (“MCC”) and/or MCC Mortgage Holdings Inc. (“MCCMH”) cease;

3.            whether or not it is in the public interest to order, pursuant to section 19(5) of the Act, that:

(a)          subsection 19(1) of the Act does not, with respect to such of the trades referred to in that section, apply to BABBER, GOUTIS, MCOCI, MCC and/or MCCMH;

(b)          subsection 19(2) of the Act does not, with respect to such of the securities referred to in that section, apply to BABBER, GOUTIS, MCOCI, MCC and/or MCCMH;

4.            whether or not it is in the public interest to order, pursuant to section 148.3 and section 8 of the Act, that each of BABBER and/or GOUTIS be prohibited from becoming or acting as a registrant, investment fund manager, or promoter, and as a director or officer of any reporting issuer, registrant, or investment fund manager;

5.            such further and other matters and the making of such further and other orders as the Commission may deem appropriate.

BY REASON OF THE FOLLOWING ALLEGATIONS:

By reason of an Order of the Ontario Securities Commission (“OSC”) dated August 17, 2015, to be filed, and such other material as staff counsel may advise and the panel may allow.

            AND FURTHER TAKE NOTICE that a person or company attending or submitting evidence at the Hearing may be represented by counsel of its choice.

            AND FURTHER TAKE NOTICE that any party to the proceedings may, at the Hearing, call witnesses and submit such evidence relevant to the Hearing as it may wish and, for that purpose, it may obtain from the Director of the Commission at Room 500 – 400 St. Mary Avenue, Winnipeg, Manitoba, a form or forms of summons to compel the attendance of witnesses.

            AND FURTHER TAKE NOTICE that upon failure of any party to attend at the time and place aforesaid, the Hearing may proceed in that party’s absence and the Commission may make or give any decision or order as though that party were present.

            DATED at Winnipeg, Manitoba this 16^th day of October, 2015.

                                                                                                                                                                                                                                                                                    Director                                            

TO:                 MORTGAGE COMPANY OF CANADA INC.

AND TO:       MCC ASSET MANAGEMENT INC.

AND TO:       MCC MORTGAGE HOLDINGS INC.

AND TO:       RAJ BABBER

AND TO:       GREG GOUTIS