| THE SECURITIES ACT | ) |
Order No. 5806 |
) |
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| Section 148 | ) |
November 26, 2008 |
GOLDPOINT RESOURCES CORPORATION,
LINO NOVIELLI, and BRIAN MOLONEY
WHEREAS:
(A) On April 30, 2008 the Ontario Securities Commission ("OSC") made a temporary order ("OSC Temporary Order"), thereafter extended by subsequent orders, against respondents including GOLDPOINT RESOURCES CORPORATION, Lino Novielli ("NOVIELLI") and Brian Moloney ("MOLONEY");
(B) On September 16, 2008, the OSC issued an order extending the OSC Temporary Order to December 1, 2008 ("OSC Order");
(C) On September 24, 2008, The Manitoba Securities Commission ("Commission") issued a Notice of Hearing ("Notice") giving notice of its intention to hold a hearing to consider pursuant to section 148.4 of The Securities Act ("Act") whether or not it was in the public interest to grant orders pursuant to section 148 of the Act with respect to GOLDPOINT RESOURCES CORPORATION, NOVIELLI and/or MOLONEY;
(D) On November 26, 2008, the hearing proceeded before a panel of the Commission;
(E) Upon reviewing the documentary evidence and hearing the submissions of counsel for staff of the Commission, no one appearing for the respondents, and upon reviewing the Affidavits of Service, filed, and being satisfied as to service upon the respondents, 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 cease trading provisions of the OSC Temporary Order and any further extension of said order by the OSC as may be granted from time to time until a full hearing of the matter before the OSC are reciprocated such that all trading in the securities of and by GOLDPOINT RESOURCES CORPORATION shall cease until a decision is rendered by the OSC in the full hearing or until further order of this Commission.
2. THAT, pursuant to section 148 of the Act, the cease trading provisions of the OSC Temporary Order and any further extension of said order by the OSC as may be granted from time to time until a full hearing of the matter before the OSC are reciprocated such that all trading in securities by NOVIELLI and MOLONEY shall cease until a decision is rendered by the OSC in the full hearing or until further order of this Commission.
BY ORDER OF THE COMMISSION
Director, Legal and Enforcement