| THE SECURITIES ACT | ) |
Order No. 2758 |
) |
||
| Section 148 | ) |
January 11, 2000 |
AAVANGEN INDUSTRIES INC.
WHEREAS:
(A) Aavangen Industries Inc. (the "Issuer") is subject to the requirements of Part XII of The Securities Act (the "Act");
(B) The Issuer has a financial year end of December 31st;
(C) The Issuer has failed to file with The Manitoba Securities Commission (the "Commission") a copy of its Audited Annual & Interim financial statements (the "Financial Statements") for the year ended December 31, 1998 & 6 months period ended June 30, 1999 as required by section 120(1)[annual] or 129(5)[interim] of the Act;
(D) On the basis of the foregoing, I am of the opinion that it is in the public interest that trading in the securities of the Issuer should cease forthwith for a period of fifteen days and I am further of the opinion that the holding of a hearing would cause a delay which would be prejudicial to the public interest.
I HEREBY ORDER pursuant to a delegation to me by the Commission under subsection 4(1) of the Act of the powers in that behalf:
1. THAT, pursuant to section 148(1) of the Act, trading in the securities of the Issuer shall cease forthwith for a period of fifteen days from January 11, 2000 to January 25, 2000, both dates inclusive, or until such earlier date as:
(a) the Issuer files a copy of the Financial Statements and pays all outstanding filing fees to the Commission; and
(b) the Issuer submits a written request to the Commission to have this order revoked.
Director