Orders and Exemptions

THE SECURITIES ACT	)	Order No. 3677
	)
Section 148 and 19(5)	)	March 6, 2002

 

JOHN FRIESEN also known as
JOHN "THRASHER" FRIESEN
and FUTRONICS INC.

WHEREAS:

(A) By Order No. 3665 dated February 20, 2002, The Manitoba Securities Commission (the "Commission") ordered, pursuant to section 148 of The Securities Act (the "Act"), that all trading in the securities of Futronics Inc. ("Futronics") shall cease forthwith and further ordered as to John Friesen also known as John "Thrasher" Friesen ("Friesen"), pursuant to subsection 19(5) of the Act, that:

(a) subsections 19(1) and 19(3) of the Act do not, with respect to such of the trades referred to in those subsections, apply to Friesen; and

(b) subsection 19(2) of the Act does not, with respect to such of the securities referred to in that subsection, apply to Friesen,

and further ordered that Order No. 3665 shall expire on March 7^th , 2002, unless extended by further order of the Commission.

(B) On February 21^st, 2002, a Notice of Hearing was issued by the Commission giving notice of a hearing to be held on March 6^th, 2002 to consider whether Order No. 3665 should be extended as against Friesen and Futronics (the "Notice of Hearing");

(C) The Notice of Hearing was served upon Friesen and Futronics;

(D) On March 6^th, Friesen appeared on his own behalf and on behalf of Futronics no one else appearing for Futronics;

(E) The investigation into the matter of securities of Futronics having been traded and may be continuing to be traded in Manitoba to members of the public by Friesen in contravention of the Act continues;

(F) Upon hearing the submissions of counsel for staff of the Commission and the submissions of Friesen, 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 148 of the Act, the prohibition on trading in the securities of Futronics imposed by Order No. 3665 be extended for a period commencing forthwith and continuing up to and including June 6^th , 2002.

2.  THAT, pursuant to subsection 19(5) of the Act, the provision that:

(a) subsections 19(1) and 19(3) of the Act do not, with respect to such of the trades referred to in those subsections, apply to Friesen; and

(b) subsection 19(2) of the Act does not, with respect to such of the securities referred to in that subsection, apply to Friesen, as imposed by Order No. 3665 be extended for a period commencing forthwith and continuing up to and including June 6^th , 2002.

3.  THAT, this matter be next returnable before the Commission on June 5^th, 2002 at 9:00 a.m., continuing through to and inclusive of June 6^th , if necessary.

BY ORDER OF THE COMMISSION

Director, Legal and Enforcement