ITOK Capital Corp. -- s. 127(1)
IN THE MATTER OF
THE SECURITIES ACT,
R.S.O. 1990, CHAPTER S.5, AS AMENDED
AND
IN THE MATTER OF
ITOK CAPITAL CORP.
ORDER
(Subsection 127(1))
WHEREAS on May 13, 2013, ITOK Capital Corp. (the "Reporting Issuer") and its transfer agent were notified that the Director of the Corporate Finance Branch of the Ontario Securities Commission (the "Commission") made an order 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") on May 13, 2013 that all trading in the securities of the Reporting Issuer, whether direct or indirect, cease immediately for a period of fifteen days from the date of the order (the "Temporary Order");
AND WHEREAS the Temporary Order was made because the Reporting Issuer failed to file the following continuous disclosure materials as required by Ontario securities law (the "Default"):
a) audited annual financial statements for the year ended December 31, 2012;
b) management's discussion and analysis relating to the audited annual financial statements for the year ended December 31, 2012; and
c) certification of the foregoing filings as required by National Instrument 52-109 Certification of Disclosure in Issuers' Annual and Interim Filings;
AND WHEREAS the Reporting Issuer and its transfer agent were notified that a hearing would be held to determine if it would be in the public interest to make an order under paragraph 2 of subsection 127(1) of the Act that all trading in the securities of the Reporting Issuer, whether direct or indirect, cease permanently or for such period as is specified in the order (the "Hearing");
AND WHEREAS the Hearing was held before the Commission on May 27, 2013;
AND WHEREAS the Commission received evidence demonstrating that the Reporting Issuer had been notified of the date and the time of the Hearing;
AND WHEREAS the Commission received evidence and heard submissions from Staff of the Commission, and no one appeared for the Reporting Issuer;
AND WHEREAS the Reporting Issuer may apply to the Commission for further consideration of this Order if such application is made by Monday, June 10, 2013;
AND UPON reviewing the evidence of Staff of the Commission and upon being satisfied that the Default continues;
AND WHEREAS the Commission is of the opinion that it is in the public interest to issue this Order;
IT IS HEREBY ORDERED pursuant to paragraph 2 of subsection 127(1) of the Act that, effective immediately, all trading in the securities of the Reporting Issuer, whether direct or indirect, shall cease until further order by the Commission or by the Director of the Corporate Finance Branch.
DATED at Toronto this 27th day of May, 2013.