MountainStar Gold Inc. - ss. 127(7), 127(8)
IN THE MATTER OF THE SECURITIES ACT, R.S.O. 1990, c. S.5, AS AMENDED AND IN THE MATTER OF MOUNTAINSTAR GOLD INC.
ORDER (Subsections 127(7) and 127(8))
WHEREAS the British Columbia Securities Commission (the "BCSC") issued a Cease Trade Order on September 8, 2014, ordering that all the trading in the securities of MountainStar Gold Inc. (the "Reporting Issuer") cease due to a failure to file the comparative financial statement for its financial year ended April 30, 2014 and the management discussion and analysis for the period ended April 30, 2014;
AND WHEREAS the order of the BCSC remains in effect until the Executive Director of the BCSC revokes the order or the Reporting Issuer completes the required filings;
AND WHEREAS the Director of the Corporate Finance Branch of the Ontario Securities Commission (the "Commission"), issued a Notice of Hearing and a Temporary Cease Trade Order (the "TCTO") on September 11, 2014, pursuant to paragraph 2 of subsection 127(1) and subsection 127(5) of the Securities Act, R.S.O. 1990, c. S.5, as amended (the "Act") ordering that, effective immediately, all trading in the securities of the Reporting Issuer, whether direct or indirect, shall cease for a period of 15 days from the date of the TCTO;
AND WHEREAS a hearing was held on September 23, 2014, at 4:00 pm to consider whether the TCTO should be extended;
AND WHEREAS the Commission considered the submissions of Staff and of counsel to the Reporting Issuer;
AND WHEREAS the Commission is of the opinion that it is in the public interest to make this order;
IT IS ORDERED THAT Pursuant to subsection 127(7) the TCTO is extended until October 17, 2014;
IT IS FURTHER ORDERED THAT the hearing in this matter is adjourned until October 15, 2014, at 9:30 a.m.
DATED at Toronto this 23rd day of September, 2014.