Ardenton Financial Inc.

IN THE MATTER OF THE REGISTRATION OF ARDENTON FINANCIAL INC.

SUSPENSION OF REGISTRATION UNDER SECTION 28 OF THE SECURITIES ACT, R.S.O. 1990, C. S.5, AS AMENDED

1. Ardenton Financial Inc. (Ardenton or the Firm) is registered under the Securities Act (Ontario) (the Act) as a dealer in the category of exempt market dealer.

2. Ardenton was also registered under the securities laws of Alberta, British Columbia, Manitoba, New Brunswick, Newfoundland and Labrador, Nova Scotia, Prince Edward Island, Quebec, and Saskatchewan.

3. On March 5, 2021, Ardenton informed its principal regulator, the British Columbia Securities Commission (BCSC) that Ardenton Capital Corporation, an issuer that is related to Ardenton and the source of Ardenton's income, had petitioned for protection from its creditors under the Companies' Creditors' Arrangement Act, R.S.C. 1985, c. C-36. As a result, Ardenton had ceased conducting registrable activities.

4. On March 8, 2021, Ardenton consented to the suspension of its registration in British Columbia, Alberta, Manitoba, New Brunswick, Newfoundland and Labrador, Nova Scotia, Prince Edward Island, Quebec, and Saskatchewan, at the request of staff of the BCSC.

5. On March 8, 2021, the Executive Director of the BCSC accepted the recommendation of staff of the BCSC, with the consent of Ardenton, and suspended Ardenton's registration and suspended the Firm's registration in British Columbia, Alberta, Manitoba, New Brunswick, Newfoundland and Labrador, Nova Scotia, Prince Edward Island, Quebec, and Saskatchewan.

6. On March 12, 2021, Elizabeth King, Deputy Director, Registrant Conduct, Compliance and Registrant Regulation Branch, on behalf of staff of the Ontario Securities Commission (Staff), wrote to Ardenton. This letter stated that Staff had recommended to the Director that the registration of the firm be suspended (the Notice) on the basis that it would be objectionable for the firm to remain registered in Ontario when its registration has been suspended in the other Canadian jurisdictions in which it was registered.

7. The Notice advised Ardenton that it was entitled to an opportunity to be heard before the Director decided to accept Staff's recommendation.

8. On March 12, 2021, Ardenton advised Staff that it was not objecting to Staff's recommendation to suspend its registration.

Decision

9. My decision is that the registration of Ardenton be suspended, effective March 15, 2021.

March 15, 2021.