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THE SECURITIES ACT |
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Order No. 7325 |
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Sections 148, 19(5), 148.3, and 8 |
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May 4, 2016 |
OPTAM HOLDINGS INC., INFINIVEST MORTGAGE
INVESTMENT CORPORATION, AND WADE ROBERT CLOSSON
WHEREAS:
(A) On December 29, 2015, the Alberta Securities Commission (“ASC”) issued a Decision against Optam Holdings Inc., Infinivest Mortgage Investment Corporation and Wade Robert Closson (“ASC Decision”);
(B) On February 4, 2016, The Manitoba Securities Commission (“Commission”) issued a Notice of Hearing (“Notice”) 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 Optam Holdings Inc. (“OPTAM”) Infinivest Mortgage Investment Corporation (“INFINIVEST”) and/or Wade Robert Closson (“CLOSSON”);
(C) On May 4, 2016, this hearing matter came before a panel of the Commission;
(D) 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, CLOSSON cease trading in securities or derivatives permanently.
2. THAT, pursuant to section 148 of the Act, trading in any securities or derivatives by and of OPTAM and INFINIVEST cease permanently.
3. THAT, pursuant to subsection 19(5) of the Act, subsection 19(1) of the Act, with respect to such of the trades referred to in that subsection, and subsection 19(2) of the Act, with respect to such of the securities referred to in that subsection, do not apply to OPTAM, INFINIVEST and CLOSSON permanently.
4. THAT, pursuant to section 148.3 of the Act, CLOSSON resign all positions he holds as and be permanently prohibited from becoming or acting as a director or officer of any issuer.
5. THAT, pursuant to section 8 of the Act, OPTAM, INFINIVEST and CLOSSON are each prohibited permanently from becoming or acting as a registrant.
BY ORDER OF THE COMMISSION
Director