| THE SECURITIES ACT | ) |
Order No. 6132 |
) |
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| Sections 148, 19(5), and 148.3 | ) |
May 19, 2010 |
ESSEN CAPITAL INC. and KEVIN LOMAN
WHEREAS:
(A) The Director, Enforcement of the Alberta Securities Commission ("ASC") entered into a Settlement Agreement and Undertaking with Essen Capital Inc. ("ESSEN CAPITAL") and Kevin Loman ("LOMAN") on October 27, 2009 ("Settlement");
(B) The Manitoba Securities Commission ("Commission") issued a Notice of Hearing ("Notice") on March 3, 2010 giving notice of its intention to hold a hearing to consider whether or not it was in the public interest to grant orders pursuant to The Securities Act, R.S.M. 1988, c. S50 as amended ("Act") with respect to ESSEN CAPITAL and LOMAN;
(C) ESSEN CAPITAL and LOMAN have consented to the issuance of this order and have waived their respective rights to a full hearing;
(D) The Commission is of the opinion that it is in the public interest to make this order.
IT IS ORDERED:
1. THAT, pursuant to sections 148 and 19(5) of the Act, ESSEN CAPITAL cease trading in securities and refrain from using any exemptions under the Act permanently.
2. THAT, pursuant to sections 148 and 19(5) of the Act, LOMAN cease trading in securities and refrain from using any exemptions under the Act until October 27, 2012, except that LOMAN may trade in securities through a registrant, who has first been given a copy of this order, in registered retirement savings plans as defined in the Income Tax Act (Canada) for his benefit or for the benefit of his spouse.
3. THAT, pursuant to section 148.3 of the Act, LOMAN resign any position he may hold as a director or officer of any issuer carrying on business in Manitoba and be prohibited from becoming or acting as a director or officer, or both, of any issuer carrying on business in Manitoba until October 27, 2012.
BY ORDER OF THE COMMISSION
Director, Legal and Enforcement