Sifton Properties Ltd. - s. 83

UPON the application of Sifton Properties Limited (the Applicant) to the Ontario Securities Commission (the "Commission") for: (i) an order, pursuant to section 83 of the Act, deeming the Applicant to have ceased to be a reporting issuer under the Act, and (ii) an order, pursuant to subsection 1(6) of the OBCA, that the Applicant be deemed to have ceased to be offering its securities to the public;

AND UPON considering the application and the recommendation of staff of the Commission;

AND UPON the Applicant having represented to the Commission that:

1.The Applicant is continued under the OBCA and its head office is located in London, Ontario.

2.The Applicant is a reporting issuer under the Act and is a corporation offering its securities to the public under the OBCA.

3.The Applicant is not in default of any of the requirements of the Act or the rules or regulations made thereunder.

4.The Applicant's authorized capital consists of 2,437,317 common shares and 1,000,000 preference shares issuable in series. The Applicant currently has 856,717 common shares (the "Common Shares") issued and outstanding.

5.Other than the Common Shares, the Applicant has no other securities, including debt securities, outstanding.

6.The Applicant has 17 registered shareholders, including five shareholders (the "Inside Shareholders") which are either senior officers of the Applicant, corporations controlled by senior officers or directors of the Applicant, or spouses of directors of the Applicant.

7.The Inside Shareholders control approximately 99.79% of the outstanding Common Shares of the Applicant.

8.The remaining 12 registered shareholders own a de minimis number of securities in the capital of the Applicant (approximately 0.21% of the outstanding Common Shares).

9.The Applicant's securities are not listed on any stock exchange and are not available for trading on any stock exchange or market.

10.The Applicant does not intend to seek public financing by way of an offering to the public.

AND UPON the Commission being satisfied that to do so would not be prejudicial to the public interest;

IT IS ORDERED, pursuant to section 83 of the Act, that the Applicant be deemed to have ceased to be a reporting issuer under the Act.

AND IT IS FURTHER ORDERED, pursuant to subsection 1(6) of the OBCA, that the Applicant is deemed to have ceased to be offering its securities to the public for the purposes of the OBCA.

January 26, 2001.

Howard I. Wetston, J. A. Geller