| THE SECURITIES ACT | ) |
Order No. 3909 |
) |
||
| Section 20(1) | ) |
October 10, 2002 |
THE BUSINESS OF SCIENCE SYMPOSIUM 2002
WHEREAS:
(A) Application has been made to The Manitoba Securities Commission ("Commission") on behalf of Manitoba Energy Science & Technology ("EST") and Manitoba Industry Trade & Mines ("ITM") in connection with The Business of Science Symposium 2002 ("the Symposium") for an Order pursuant to subsection 20(1) of The Securities Act, RSM 1988 c.S50 (the "Act") exempting from Section 6 and 37 of the Act EST and ITM and certain other persons involved in the Symposium.
(B) It as been represented by EST and ITM to the Commission that:
1. The Symposium is a forum organized by EST and ITM to provide an opportunity for selected Manitoba firms and organizations to deliver presentations to prospective investors and others outlining their investment plans, financing needs and investments opportunities;
2. The Symposium is anticipated to be a learning experience to help educate Manitoba companies regarding financing alternatives and investment options, and as well is expected to present an opportunity to encourage communication and possible involvement between Manitoba companies and potential investors;
3. The Symposium is scheduled to take place on October 22 and 23, 2002, in Winnipeg.
4. The Symposium and participation by presenters will be subject to the supervision and guidance of EST and ITM;
5. The Symposium will not encourage the exchange of funds during the course of the program or the actual sale of securities of presenters during that time.
6. EST and ITM and their respective employees, agents, advisors and servants (collectively the "Promoters"), their sponsors (see attached Schedule "A") and their respective officers, directors, employees, agents, advisors and servants (collectively the "Sponsors") and the presenting companies (see attached Schedule "B"), their respective officers, directors, employees, agents, advisors and servants (the "Potential Issuers") may, during the course of the Symposium, engage directly or indirectly in trading or furtherance of trading in securities of the Potential Issuers.
(C) In the opinion of the Commission it would not be prejudicial to the public interest to grant the Order requested.
IT IS ORDERED:
1. THAT, pursuant to subsection 20(1) of the Act:
(a) the Promoters, Sponsors, and Potential Issuers shall be exempt from section 6 and 37 of the Act in respect of any activities directly or indirectly constituting a trade or an action in furtherance of a trade in securities of the Potential Issuers, which may be engaged in by such persons during the course of the Symposium to be held in Winnipeg on October 22 and 23, 2002, provided that EST and ITM shall provide or cause to be provided or written out as to the Potential Issuers to the following effect:
"Participants in The Business of Science Symposium 2002 are reminded that the issuance of securities and any acts and furtherance of a sale of securities are subject to, among other things, the provisions of The Securities Act (Manitoba). The Promoters, Sponsors and Organizers of The Business of Science Symposium assume no responsibility for compliance with applicable statutory requirements and participants are urged to consult with their legal advisors to ensure that their activities are conducted in accordance with the applicable regulatory requirements."
(b) The provisions of subsection 92(1) of The Securities Regulation made under the Act should not apply to any activities conducted during the Symposium on October 22 or 23, 2002 by potential issuers, the promoters or the sponsors on behalf of potential issuers, which directly or indirectly may be considered to be acts of furtherance or a trade in securities of a potential issuer provided that subsection 92(1) of the Regulations shall continue to apply to any actual sale or disposition of securities by potential issuers conducted during the Symposium on October 22 and 23, 2002.
2. THAT there shall be no fee payable with respect to this Order.
BY ORDER OF THE COMMISSION
Deputy Director – Legal
SCHEDULE "A"
SPONSORS
1.Government of Manitoba
2.Deloitte & Touche
3.Biovail
4.Winnipeg Executive Policy Committee Secretariat
5.Genesys Venture Inc.
6.Monsanto Canada Inc.
7.Ensis Growth Fund
8.Aventis Pharma
9.CorpAV Presentation Group
10.Institute for Biodiagnostics/NRC
11.Health Care Products Association of Manitoba
12.Thompson Dorfman Sweatman
13.University of Manitoba
14.Glaxosmithkline
15.Aventis Pasteur
16.Bayer Healthcare
17.Foragen Technologies Management Inc.
18.Manitoba Hydro
19.TSX Venture Exchange
20.Western Economic Diversification Canada
21.Acsion Industries Inc.
22.IBM Canada Ltd.
23.Lombard Life Sciences
24.Merck Frosst Canada Ltd.
25.Cangene Corporation
26.AstraZeneca
27.Crocus Investment Fund
28.Apotex Fermentation Inc.
29.Schering Canada Inc.
SCHEDULE "B"
PRESENTERS
1. AutoLITT Inc.
2.Cardiovascular Solutions Inc.
3.Kane Biotech Inc.
4.DiaMedica
5.Nir vivo inc.
6.IMRIS
7.Websar Innovations Inc.
8.Cangene Corporation
9.Medicure Inc.
10.BCY Life Sciences Inc.