TG Residential Value Properties Ltd. – 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 TG RESIDENTIAL VALUE PROPERTIES LTD.
ORDER (Subsections 127(7) and 127(8))
WHEREAS the British Columbia Securities Commission (the "BCSC") issued a Cease Trade Order on November 5, 2014, ordering that all the trading in the securities of TG Residential Value Properties Ltd. (the "Reporting Issuer"), cease due to a failure to file the following required continuous disclosure documents:
(i) comparative financial statement for its financial year ended June 30, 2014; and
(ii) the management discussion and analysis for the period ended June 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 November 10, 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"), reciprocating the order of the BCSC, and 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 November 21, 2014, in writing, to consider whether the TCTO should be extended;
AND WHEREAS the Commission considered the consent of the Reporting Issuer and Staff of the Commission and submissions of the Reporting Issuer and Staff of the Commission;
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 be extended until December 4, 2014;
IT IS FURTHER ORDERED THAT the hearing in this matter be adjourned until December 1, 2014, at 10:00 a.m.
DATED at Toronto this 21st day of November, 2014