Teddy Bear Valley Mines, Limited - s. 144
Headnote
Section 144 -- full revocation of cease trade order upon remedying of defaults.
Statutes Cited
Securities Act, R.S.O. 1990, c. S.5, as am., ss. 127, 144.
IN THE MATTER OF
THE SECURITIES ACT,
R.S.O. 1990, CHAPTER S.5, AS AMENDED
(THE "ACT")
AND
IN THE MATTER OF
TEDDY BEAR VALLEY MINES, LIMITED
ORDER
(Section 144)
WHEREAS the securities of Teddy Bear Valley Mines, Limited ("Teddy Bear") have been subject to a cease trade order (the "CTO") of the Ontario Securities Commission (the "Commission") pursuant to paragraph 2 of subsection 127(1) of the Act, issued as a temporary cease trade order on August 15, 2006 and as a permanent order on August 25, 2006 ("the Permanent Order").
AND WHEREAS Teddy Bear has applied to the Commission pursuant to section 144 of the Act (the "Application") for a revocation of the Permanent Order;
AND WHEREAS the Applicant has represented to the Commission that:
1. The Applicant was incorporated under the Business Corporations Act (Ontario) on July 6, 1929. The Applicant is a reporting issuer in the Province of Ontario. The Applicant became a reporting issuer under the Act on June 17, 1983.
2. The Applicant is authorized to issue an unlimited number of common shares of which 8,748,022 common shares are issued and outstanding.
3. The Applicant is not listed or quoted on any exchange or market in Canada or elsewhere.
4. The Cease Trade Order was issued as a result of the Applicant's failure to file and deliver its annual financial statements for the year ended March 31, 2006 (the "Annual Financial Statements").
5. On August 30, 2006 the Applicant filed the Annual Financial Statements with the Commission by filing them on SEDAR, along with Cdn.$2,432.00 of associated late fees.
AND WHEREAS the Director is satisfied that the Reporting Issuer has remedied its default in respect of the filing requirements and is of the opinion that it is not prejudicial to the public interest to revoke the Permanent Order;
IT IS ORDERED under section 144 of the Act that the Permanent Order be revoked.
Dated at Toronto this 14 day of September, 2006.