osc bulletin · august 27, 2015 (2015), 38 oscb 7323 chapter 1 notices / news releases 1.2 notices...
Post on 14-Oct-2020
1 Views
Preview:
TRANSCRIPT
The Ontario Securities Commission
OSC Bulletin
August 27, 2015
Volume 38, Issue 34
(2015), 38 OSCB
The Ontario Securities Commission administers the Securities Act of Ontario (R.S.O. 1990, c. S.5) and the
Commodity Futures Act of Ontario (R.S.O. 1990, c. C.20)
The Ontario Securities Commission Published under the authority of the Commission by: Cadillac Fairview Tower Carswell, a Thomson Reuters business 22nd Floor, Box 55 One Corporate Plaza 20 Queen Street West 2075 Kennedy Road Toronto, Ontario Toronto, Ontario M5H 3S8 M1T 3V4 416-593-8314 or Toll Free 1-877-785-1555 416-609-3800 or 1-800-387-5164 Contact Centre – Inquiries, Complaints: Fax: 416-593-8122 TTY: 1-866-827-1295 Office of the Secretary: Fax: 416-593-2318
The OSC Bulletin is published weekly by Carswell, a Thomson Reuters business, under the authority of the Ontario Securities Commission. Subscriptions are available from Carswell at the price of $827 per year. Subscription prices include first class postage to Canadian addresses. Outside Canada, these airmail postage charges apply on a current subscription:
U.S. $8 per issue Outside North America $12 per issue
Single issues of the printed Bulletin are available at $20 per copy as long as supplies are available. Carswell also offers every issue of the Bulletin, from 1994 onwards, fully searchable on SecuritiesSource™, Canada’s pre-eminent web-based securities resource. SecuritiesSource™ also features comprehensive securities legislation, expert analysis, precedents and a weekly Newsletter. For more information on SecuritiesSource™, as well as ordering information, please go to:
http://www.westlawecarswell.com/SecuritiesSource/News/default.htm
or call Carswell Customer Relations at 1-800-387-5164 (416-609-3800 Toronto & Outside of Canada). Claims from bona fide subscribers for missing issues will be honoured by Carswell up to one month from publication date. Space is available in the Ontario Securities Commission Bulletin for advertisements. The publisher will accept advertising aimed at the securities industry or financial community in Canada. Advertisements are limited to tombstone announcements and professional business card announcements by members of, and suppliers to, the financial services industry.
All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise without the prior written permission of the publisher.
The publisher is not engaged in rendering legal, accounting or other professional advice. If legal advice or other expert assistance is required, the services of a competent professional should be sought. © Copyright 2015 Ontario Securities Commission ISSN 0226-9325 Except Chapter 7 ©CDS INC.
One Corporate Plaza 2075 Kennedy Road Toronto, Ontario M1T 3V4
Customer Relations Toronto 1-416-609-3800
Elsewhere in Canada/U.S. 1-800-387-5164 Fax 1-416-298-5082
www.carswell.com Email www.carswell.com/email
August 27, 2015 (2015), 38 OSCB
Table of Contents
Chapter 1 Notices / News Releases ...................... 7323 1.1 Notices ........................................................... (nil) 1.2 Notices of Hearing ........................................ 7323 1.2.1 1415409 Ontario Inc. et al. – ss. 127, 127.1 ............................................. 7323 1.3 Notices of Hearing with Related Statements of Allegations ........................... 7324 1.3.1 Paul Camillo DiNardo – ss. 127(1), 127(10) ..................................... 7324 1.4 News Releases .............................................. (nil) 1.5 Notices from the Office of the Secretary ............................................ 7326 1.5.1 Portfolio Capital Inc.et al. ................................ 7326 1.5.2 Bigfoot Recreation & Ski Area Ltd. and Ronald Stephen McHaffie ............................... 7326 1.5.3 Clifford Todd Monaghan ................................. 7327 1.5.4 Paul Camillo DiNardo ..................................... 7327 1.5.5 Ground Wealth Inc. et al. ................................ 7328 1.5.6 Paul Azeff et al. .............................................. 7328 1.5.7 1415409 Ontario Inc. et al. ............................. 7329 1.5.8 1415409 Ontario Inc. et al. ............................. 7329 1.6 Notices from the Office of the Secretary with Related Statements of Allegations ............................ (nil) Chapter 2 Decisions, Orders and Rulings ............ 7331 2.1 Decisions ...................................................... 7331 2.1.1 Mackenzie Financial Corporation ................... 7331 2.1.2 Coastal Gold Corp. – s. 1(10)(a)(ii) ................ 7333 2.2 Orders............................................................ 7334 2.2.1 Mega Precious Metals Inc. – s. 1(6) of the OBCA ..................................... 7334 2.2.2 Portfolio Capital Inc. et al. – ss. 127, 127.1 .............................................. 7336 2.2.3 Bigfoot Recreation & Ski Area Ltd. and Ronald Stephen McHaffie – s. 127 .......... 7338 2.2.4 iShares FactorSelectTM MSCI Canada Index ETF et al. – s. 1.1 ................................. 7340 2.2.5 Authorization Order – s. 3.5(3) ....................... 7341 2.2.6 Clifford Todd Monaghan ................................. 7342 2.2.7 Agrium Inc. – s. 104(2)(c) ............................... 7343 2.2.8 Coastal Gold Corp. – s. 1(6) of the OBCA ................................................... 7348 2.2.9 Ground Wealth Inc. et al. ................................ 7350 2.2.10 Paul Azeff et al. – ss. 127, 127.1 .................... 7351 2.2.11 1415409 Ontario Inc. et al. – ss. 127, 127.1 .............................................. 7355 2.3 Orders with Related Settlement Agreements .................................................... (nil) 2.4 Rulings ........................................................... (nil) Chapter 3 Reasons: Decisions, Orders and Rulings ................................................... 7357 3.1 OSC Decisions .............................................. 7357 3.1.1 Portfolio Capital Inc. et al. – ss. 127, 127.1 .............................................. 7357
3.1.2 Bigfoot Recreation & Ski Area Ltd. and Ronald Stephen McHaffie – ss. 127(1), 127(10)...................................... 7370 3.1.3 Ground Wealth Inc. et al. – ss. 127, 127.1 ............................................ 7377 3.1.4 Paul Azeff et al. – ss. 127, 127.1 ................... 7382 3.2 Director’s Decisions .................................... 7393 3.2.1 Argosy Securities Inc. and Keybase Financial Group Inc. – s. 31 ............ 7393 3.3 Court Decisions ............................................. (nil) Chapter 4 Cease Trading Orders .......................... 7399 4.1.1 Temporary, Permanent & Rescinding Issuer Cease Trading Orders ......................... 7399 4.2.1 Temporary, Permanent & Rescinding Management Cease Trading Orders ............. 7399 4.2.2 Outstanding Management & Insider Cease Trading Orders ................................... 7399 Chapter 5 Rules and Policies .................................. (nil) Chapter 6 Request for Comments .......................... (nil) Chapter 7 Insider Reporting .................................. 7401 Chapter 8 Notice of Exempt Financings............... 7479
Reports of Trades Submitted on Forms 45-106F1 and 45-501F1 .............. 7479
Chapter 9 Legislation ............................................... (nil) Chapter 11 IPOs, New Issues and Secondary Financings ............................................. 7481 Chapter 12 Registrations ......................................... 7485 12.1.1 Registrants ..................................................... 7485 Chapter 13 SROs, Marketplaces,
Clearing Agencies and Trade Repositories ............................... 7487
13.1 SROs ............................................................. 7487 13.1.1 IIROC – Margin Requirements for Certain Cash and Security Borrowing and Lending Arrangements – Proposed
Amendments to Schedules 1, 7 and 7A of Dealer Member Form 1 .............................. 7487 13.2 Marketplaces .................................................. (nil) 13.3 Clearing Agencies ....................................... 7488 13.3.1 CDS – Material Amendments to CDS Procedures – CAD and USD Receivers of Credit Category Credit Rings – OSC Staff Notice of Request for Comment ....................................................... 7488 13.3.2 CDS – Material Amendments to CDS Rules – CAD and USD Receivers of Credit Category Credit Rings – OSC Staff Notice of Request for Comment ..................... 7489
Table of Contents
August 27, 2015 (2015), 38 OSCB
13.3.3 CDCC – Amendments to the Rule B-3 of CDCC to Introduce Acceleration of Expiry – Notice of Commission Approval .................. 7490 13.4 Trade Repositories ........................................ (nil) Chapter 25 Other Information ................................... (nil) Index ............................................................................ 7491
August 27, 2015
(2015), 38 OSCB 7323
Chapter 1
Notices / News Releases
1.2 Notices of Hearing 1.2.1 1415409 Ontario Inc. et al. – ss. 127, 127.1
IN THE MATTER OF THE SECURITIES ACT.
R.S.O. 1990, c. S.5, AS AMENDED
AND
IN THE MATTER OF 1415409 ONTARIO INC., TITLE ONE CLOSING INC.,
RAVINDRA DAVE, CHANDRAMATTIE DAVE, and AMETRA DAVE
AND
IN THE MATTER OF
A SETTLEMENT AGREEMENT BETWEEN STAFF OF THE ONTARIO SECURITIES COMMISSION
and 1415409 ONTARIO INC., TITLE ONE CLOSING INC., RAVINDRA DAVE, and CHANDRAMATTIE DAVE
NOTICE OF HEARING
(Sections 127 and 127.1 of the Securities Act) TAKE NOTICE that the Ontario Securities Commission (the “Commission”) will hold a hearing pursuant to sections 127 and 127.1 of the Securities Act, R.S.O., c. S.5, as amended (the “Act”), at the offices of the Commission at 20 Queen Street West, 20th Floor, in the City of Toronto, commencing on the 27th day of August, 2015 at 1 p.m. or as soon thereafter as the hearing can be held; AND TAKE NOTICE that the purpose of the hearing is for the Commission to consider whether it is in the public interest to approve the Settlement Agreement between Staff of the Commission (“Staff”) and Chandramattie Dave, Ravindra Dave, 1415409 Ontario Inc., and Title One Closing Inc. pursuant to sections 127 and 127.1 of the Act; BY REASON OF the allegations set out in the Statement of Allegations of Staff, dated March 17, 2015, and such additional allegations as counsel may advise and the Commission may permit; AND TAKE FURTHER NOTICE that any party to the proceeding may be represented by counsel at the hearing; AND TAKE FURTHER NOTICE that upon failure of any party to attend at the time and place aforesaid, the hearing may proceed in the absence of that party, and such party is not entitled to any further notice of the proceedings.
AND TAKE FURTHER NOTICE that orders or settlements made by the Ontario Securities Commission may form the basis for parallel orders in other jurisdictions in Canada. The securities laws of some other Canadian jurisdictions may allow orders made in this matter to take effect in those other jurisdictions automatically, without further notice to the Respondent(s). AND TAKE FURTHER NOTICE that the Notice of Hearing is also available in French, participation may be in either French or English and participants must notify the Secretary’s Office in writing as soon as possible, and in any event, at least thirty (30) days before a hearing if the participant is requesting a proceeding to be conducted wholly or partly in French; and ET AVIS EST ÉGALEMENT DONNÉ PAR LA PRÉSENTE que l'avis d'audience est disponible en français, que la participation à l'audience peut se faire en français ou en anglais et que les participants doivent aviser le Bureau du secrétaire par écrit le plus tôt possible et, dans tous les cas, au moins trente (30) jours avant l'audience si le participant demande qu'une instance soit tenue entièrement ou partiellement en français. DATED at Toronto, this 25th day of August, 2015. “Josée Turcotte” Secretary to the Commission
Notices / News Releases
August 27, 2015
(2015), 38 OSCB 7324
1.3 Notices of Hearing with Related Statements of Allegations
1.3.1 Paul Camillo DiNardo – ss. 127(1), 127(10)
IN THE MATTER OF THE SECURITIES ACT,
R.S.O. 1990, c. S.5, AS AMENDED
AND
IN THE MATTER OF PAUL CAMILLO DINARDO
NOTICE OF HEARING
(Subsections 127(1) and 127(10)) TAKE NOTICE THAT the Ontario Securities Commission (the “Commission”) will hold a hearing pursuant to subsections 127(1) and 127(10) of the Securities Act, R.S.O. 1990, c. S.5, as amended (the “Act”), at the offices of the Commission, 20 Queen Street West, 17th Floor, commencing on September 9, 2015 at 3:00 p.m.; TO CONSIDER whether, pursuant to paragraph 1 of subsection 127(10) of the Act, it is in the public interest for the Commission to make an order: 1. against Paul Camillo DiNardo (“DiNardo”) that:
a. pursuant to paragraph 2 of subsection 127(1) of the Act, trading in any securities or derivatives by DiNardo cease permanently;
b. pursuant to paragraph 2.1 of subsection
127(1) of the Act, acquisition of any securities by DiNardo be prohibited permanently;
c. pursuant to paragraph 3 of subsection
127(1) of the Act, any exemptions contained in Ontario securities law shall not apply to DiNardo permanently;
d. pursuant to paragraphs 7, 8.1 and 8.3 of
subsection 127(1) of the Act, DiNardo resign any positions that he holds as director or officer of any issuer, registrant or investment fund manager;
e. pursuant to paragraphs 8, 8.2 and 8.4 of
subsection 127(1) of the Act, DiNardo be prohibited permanently from becoming or acting as a director or officer of any issuer, registrant or investment fund manager; and
f. pursuant to paragraph 8.5 of subsection
127(1) of the Act, DiNardo be prohibited permanently from becoming or acting as
a registrant, as an investment fund manager or as a promoter;
2. to make such other order or orders as the
Commission considers appropriate. BY REASON of the allegations set out in the Statement of Allegations of Staff of the Commission dated August 17, 2015, and by reason of DiNardo’s guilty plea dated February 27, 2015 and sentence dated April 15, 2015 in the Ontario Superior Court of Justice, and such additional allegations as counsel may advise and the Commission may permit; AND TAKE FURTHER NOTICE that at the hearing on September 9, 2015 at 3:00 p.m., Staff will bring an application to proceed with the matter by written hearing, in accordance with Rule 11 of the Ontario Securities Commission Rules of Procedure (2014), 37 OSCB 4168 and section 5.1 of the Statutory Powers Procedure Act, R.S.O. 1990, c. S.22, as amended, and any party to the proceeding may make submissions in respect of the application to proceed by written hearing; AND TAKE FURTHER NOTICE that any party to the proceeding may be represented by counsel at the hearing; AND TAKE FURTHER NOTICE that upon failure of any party to attend at the time and place aforesaid, the hearing may proceed in the absence of the party and such party is not entitled to any further notice of the proceeding; AND TAKE FURTHER NOTICE that the Notice of Hearing is also available in French, participation may be in either French or English and participants must notify the Secretary’s Office in writing as soon as possible, and in any event, at least thirty (30) days before a hearing if the participant is requesting a proceeding to be conducted wholly or partly in French; and ET AVIS EST ÉGALEMENT DONNÉ PAR LA PRÉSENTE que l'avis d'audience est disponible en français, que la participation à l'audience peut se faire en français ou en anglais et que les participants doivent aviser le Bureau du secrétaire par écrit le plut tôt possible et, dans tous les cas, au moins trente (30) jours avant l'audience si le participant demande qu'une instance soit tenue entièrement ou partiellement en français. DATED at Toronto this 20th day of August, 2015. “Josée Turcotte” Secretary to the Commission
Notices / News Releases
August 27, 2015
(2015), 38 OSCB 7325
IN THE MATTER OF THE SECURITIES ACT,
R.S.O. 1990, c. S.5, AS AMENDED
AND
IN THE MATTER OF PAUL CAMILLO DINARDO
STATEMENT OF ALLEGATIONS OF
STAFF OF THE ONTARIO SECURITIES COMMISSION
Staff of the Ontario Securities Commission (“Staff”) allege: I. OVERVIEW 1. On February 27, 2015, Paul Camillo DiNardo
(“DiNardo”) pleaded guilty in the Ontario Superior Court of Justice (the “Superior Court”) to, among other charges, 2 counts of fraud over $5,000, contrary to section 380(1) of the Criminal Code, R.S.C., 1985, c. C-46 (the “Criminal Code”). DiNardo’s guilty plea was accepted by the Superior Court, and on April 15, 2015, DiNardo was sentenced to 5 years in prison, less 2 years and 10 months for pretrial credit, resulting in a net effective sentence of 2 years and 2 months.
2. The offences for which DiNardo was convicted
arose from transactions, business or a course of conduct related to securities.
3. Staff are seeking an inter-jurisdictional
enforcement order reciprocating DiNardo’s convictions, pursuant to paragraph 1 of subsection 127(10) of the Securities Act, R.S.O. 1990, c. S.5, as amended (the “Act”).
4. The conduct for which DiNardo was sanctioned
took place between April 2005 and January 2012 (the “Material Time”).
II. THE RESPONDENT 5. DiNardo is a resident of Ontario. 6. DiNardo has never been registered with the
Ontario Securities Commission (the “Commission”) in any capacity.
7. On February 27, 2015, DiNardo pleaded guilty in
the Superior Court in relation to 2 counts of fraud for his role in several investment schemes, involving various companies, during the Material Time. None of the companies were registered to trade with the Commission.
8. In respect of the first set of charges, between April
5, 2005 and November 29, 2010, approximately 160 individuals were recruited to invest approximately $13 million, of which approximately $6 million was repaid to investors. DiNardo, among others, solicited investments, whereby
investors were told they were investing in oil and real estate which would yield high rates of return.
9. In respect of the second set of charges, between
September 7, 2011 and January 12, 2012, DiNardo convinced his 86 year old physician to provide him with $1.1 million, purportedly for an investment with a high rate of return in a company called North American Carrier Services. Of the $1.1 million provided to DiNardo, $32,500 was repaid and the remaining amount of $1,067,500 was outstanding as of April 15, 2015.
III. THE SUPERIOR COURT OF JUSTICE
PROCEEDINGS DiNardo’s Conviction for Fraud 10. By Indictments sworn February 27, 2014 (the
“Indictment”) and February 23, 2015 (the “Second Indictment”), DiNardo was charged with 5 various counts of contravening the Criminal Code.
11. On February 27, 2015, DiNardo pleaded guilty to
each of the 5 counts, including 2 counts of fraud over $5,000, contrary to section 380(1) of the Criminal Code, being count 1 of the Indictment and count 1 of the Second Indictment.
DiNardo’s Sentence 12. A sentencing hearing was subsequently held on
April 15, 2015 before the Honourable Justice Wein of the Superior Court. Justice Wein issued oral reasons and sentenced DiNardo to a term of imprisonment of 5 years, less 2 years and 10 months for pretrial credit, resulting in a net effective sentence of 2 years and 2 months.
IV. JURISDICTION OF THE ONTARIO SECURITIES
COMMISSION 13. Pursuant to paragraph 1 of subsection 127(10) of
the Act, DiNardo’s convictions for offences arising from transactions, business or a course of conduct related to securities or derivatives may form the basis for an order in the public interest made under subsection 127(1) of the Act.
14. Staff allege that it is in the public interest to make
an order against DiNardo. 15. Staff reserve the right to amend these allegations
and to make such further and other allegations as Staff deem fit and the Commission may permit.
16. Staff request that this application be heard by way
of a written hearing pursuant to Rules 2.6 and 11 of the Ontario Securities Commission Rules of Procedure, (2014) 37 OSCB 4168.
DATED at Toronto, this 17th day of August, 2015.
Notices / News Releases
August 27, 2015
(2015), 38 OSCB 7326
1.5 Notices from the Office of the Secretary 1.5.1 Portfolio Capital Inc.et al.
FOR IMMEDIATE RELEASE August 20, 2015
IN THE MATTER OF
THE SECURITIES ACT, R.S.O. 1990, c. S.5, AS AMENDED
AND
IN THE MATTER OF
PORTFOLIO CAPITAL INC., DAVID ROGERSON and AMY HANNA-ROGERSON
TORONTO – The Commission issued its Reasons and Decision on Sanctions and Costs and an Order in the above noted matter. A copy of the Reasons and Decision on Sanctions and Costs and the Order dated August 19, 2015 are available at www.osc.gov.on.ca. OFFICE OF THE SECRETARY JOSÉE TURCOTTE SECRETARY For media inquiries: media_inquiries@osc.gov.on.ca For investor inquiries: OSC Contact Centre 416-593-8314 1-877-785-1555 (Toll Free)
1.5.2 Bigfoot Recreation & Ski Area Ltd. and Ronald Stephen McHaffie
FOR IMMEDIATE RELEASE
August 21, 2015
IN THE MATTER OF THE SECURITIES ACT,
R.S.O. 1990, C. S.5, AS AMENDED
AND
IN THE MATTER OF BIGFOOT RECREATION & SKI AREA LTD.
and RONALD STEPHEN MCHAFFIE TORONTO – The Commission issued its Reasons and Decision and an Order pursuant to Subsections 127(1) and 127(10) of the Securities Act in the above noted matter. A copy of the Reasons and Decision and the Order dated August 20, 2015 are available at www.osc.gov.on.ca. OFFICE OF THE SECRETARY JOSÉE TURCOTTE SECRETARY For media inquiries: media_inquiries@osc.gov.on.ca For investor inquiries: OSC Contact Centre 416-593-8314 1-877-785-1555 (Toll Free)
Notices / News Releases
August 27, 2015
(2015), 38 OSCB 7327
1.5.3 Clifford Todd Monaghan
FOR IMMEDIATE RELEASE August 24, 2015
IN THE MATTER OF
THE SECURITIES ACT, R.S.O. 1990, c. S.5, AS AMENDED
AND
IN THE MATTER OF
A HEARING AND REVIEW OF THE DECISION OF THE INVESTMENT INDUSTRY REGULATORY
ORGANIZATION OF CANADA REGARDING PORTFOLIO STRATEGIES SECURITIES INC.
AND
IN THE MATTER OF
CLIFFORD TODD MONAGHAN TORONTO – The Commission issued an Order in the above named matter which provides that
1. the Applicant shall serve and file an amended application, if any, by August 28, 2015;
2. IIROC Staff, Staff of the Commission and
PSSI shall serve and file motions, if any, including motion records and memoranda of fact and law, by September 4, 2015;
3. the Applicant shall serve and file a
responding motion record and memoranda of fact and law, if any, by September 11, 2015;
4. PSSI’s cross-examination on
Monaghan’s affidavits, if any, shall take place on September 14, 2015; and
5. a motion hearing, if any, shall take place
on September 16, 2015 at 11:00 a.m.
A copy of the Order dated August 18, 2015 is available at www.osc.gov.on.ca. OFFICE OF THE SECRETARY JOSÉE TURCOTTE SECRETARY For media inquiries: media_inquiries@osc.gov.on.ca For investor inquiries: OSC Contact Centre 416-593-8314 1-877-785-1555 (Toll Free)
1.5.4 Paul Camillo DiNardo
FOR IMMEDIATE RELEASE August 24, 2015
IN THE MATTER OF
THE SECURITIES ACT, R.S.O. 1990, c. S.5, AS AMENDED
AND
IN THE MATTER OF
PAUL CAMILLO DINARDO TORONTO – The Office of the Secretary issued a Notice of Hearing pursuant to Subsections 127(1) and 127(10) of the Securities Act setting the matter down to be heard September 9, 2015 at 3:00 p.m. or as soon thereafter as the hearing can be held in the above named matter. The hearing will be held at the offices of the Commission at 20 Queen Street West, 17th Floor, Toronto. A copy of the Notice of Hearing dated August 20, 2015 and Statement of Allegations of Staff of the Ontario Securities Commission dated August 17, 2015 are available at www.osc.gov.on.ca. OFFICE OF THE SECRETARY JOSÉE TURCOTTE SECRETARY For media inquiries: media_inquiries@osc.gov.on.ca For investor inquiries: OSC Contact Centre 416-593-8314 1-877-785-1555 (Toll Free)
Notices / News Releases
August 27, 2015
(2015), 38 OSCB 7328
1.5.5 Ground Wealth Inc. et al.
FOR IMMEDIATE RELEASE August 25, 2015
IN THE MATTER OF
THE SECURITIES ACT, R.S.O. 1990, c. S.5, AS AMENDED
AND
IN THE MATTER OF
GROUND WEALTH INC., MICHELLE DUNK, ADRION SMITH, JOEL WEBSTER, DOUGLAS DEBOER,
ARMADILLO ENERGY INC., ARMADILLO ENERGY, INC., and ARMADILLO ENERGY, LLC (aka ARMADILLO
ENERGY LLC) TORONTO – Following the hearing on the merits re the Armadillo Respondents in the above noted matter, the Commission issued its Reasons and Decision and an Order. A copy of the Reasons and Decision dated August 24, 2015 and Order dated August 24, 2015 are available at www.osc.gov.on.ca. OFFICE OF THE SECRETARY JOSÉE TURCOTTE SECRETARY For media inquiries: media_inquiries@osc.gov.on.ca For investor inquiries: OSC Contact Centre 416-593-8314 1-877-785-1555 (Toll Free)
1.5.6 Paul Azeff et al.
FOR IMMEDIATE RELEASE August 25, 2015
IN THE MATTER OF
THE SECURITIES ACT, R.S.O. 1990, c. S.5, AS AMENDED
AND
IN THE MATTER OF
PAUL AZEFF, KORIN BOBROW, MITCHELL FINKELSTEIN, HOWARD JEFFREY MILLER AND MAN
KIN CHENG (a.k.a. FRANCIS CHENG) TORONTO – Following the hearing on Sanctions and Costs in the above named matter, the Commission issued its Reasons and Decision. The Commission also issued an Order on Sanctions and Costs. A copy of the Reasons and Decision on Sanctions and Costs dated August 24, 2015 and the Order on Sanctions and Costs dated August 24, 2015 are available at www.osc.gov.on.ca. OFFICE OF THE SECRETARY JOSÉE TURCOTTE SECRETARY For media inquiries: media_inquiries@osc.gov.on.ca For investor inquiries: OSC Contact Centre 416-593-8314 1-877-785-1555 (Toll Free)
Notices / News Releases
August 27, 2015
(2015), 38 OSCB 7329
1.5.7 1415409 Ontario Inc. et al.
FOR IMMEDIATE RELEASE August 25, 2015
IN THE MATTER OF
THE SECURITIES ACT, R.S.O. 1990, c. S.5, AS AMENDED
AND
IN THE MATTER OF
1415409 ONTARIO INC., TITLE ONE CLOSING INC., RAVINDRA DAVE, CHANDRAMATTIE DAVE
and AMETRA DAVE TORONTO – The Commission issued an Order in the above named matter which provides that the hearing be continued on a further date and time as agreed to by the parties and set by the Office of the Secretary. A copy of the Order dated August 19, 2015 is available at www.osc.gov.on.ca. OFFICE OF THE SECRETARY JOSÉE TURCOTTE SECRETARY For media inquiries: media_inquiries@osc.gov.on.ca For investor inquiries: OSC Contact Centre 416-593-8314 1-877-785-1555 (Toll Free)
1.5.8 1415409 Ontario Inc. et al.
FOR IMMEDIATE RELEASE August 25, 2015
IN THE MATTER OF
THE SECURITIES ACT. R.S.O. 1990, c. S.5, AS AMENDED
AND
IN THE MATTER OF
1415409 ONTARIO INC., TITLE ONE CLOSING INC., RAVINDRA DAVE, CHANDRAMATTIE DAVE, and
AMETRA DAVE
AND
IN THE MATTER OF A SETTLEMENT AGREEMENT BETWEEN
STAFF OF THE ONTARIO SECURITIES COMMISSION and 1415409 ONTARIO INC., TITLE ONE CLOSING
INC., RAVINDRA DAVE, and CHANDRAMATTIE DAVE
TORONTO – The Office of the Secretary issued a Notice of Hearing for a hearing to consider whether it is in the public interest to approve a settlement agreement entered into by Staff of the Commission and Chandramattie Dave, Ravindra Dave, 1415409 Ontario Inc., and Title One Closing Inc. in the above named matter. The hearing will be held on August 27, 2015 at 1:00 p.m. on the 17th floor of the Commission's offices located at 20 Queen Street West, Toronto. A copy of the Notice of Hearing dated August 25, 2015 is available at www.osc.gov.on.ca. OFFICE OF THE SECRETARY JOSÉE TURCOTTE SECRETARY For media inquiries: media_inquiries@osc.gov.on.ca For investor inquiries: OSC Contact Centre 416-593-8314 1-877-785-1555 (Toll Free)
August 27, 2015
(2015), 38 OSCB 7331
Chapter 2
Decisions, Orders and Rulings 2.1 Decisions 2.1.1 Mackenzie Financial Corporation Headnote National Policy 11-203 – Process for Exemptive Relief Applications in Multiple Jurisdictions – Relief granted from paragraph 13.5(2)(b) of NI 31-103 to permit inter-fund trades between public mutual funds – inter-fund trades will comply with conditions in subsection 6.1(2) of NI 81-107 including IRC approval or client consent – trades involving exchange-traded securities are permitted to occur at last sale price as defined in the Universal Market Integrity Rules. Applicable Legislative Provisions National Instrument 31-103 Registration Requirements and
Exemptions, ss. 13.5(2)(b), 15.1. National Instrument 81-107 Independent Review Commit-
tee for Investment Funds, ss. 6.1(2), 6.1(4).
August 19, 2015
IN THE MATTER OF THE SECURITIES LEGISLATION OF ONTARIO
(the “Jurisdiction”)
AND
IN THE MATTER OF THE PROCESS FOR EXEMPTIVE RELIEF
APPLICATIONS IN MULTIPLE JURISDICTIONS
AND
IN THE MATTER OF MACKENZIE FINANCIAL CORPORATION
(the “Filer”)
DECISION Background The principal regulator in the Jurisdiction has received an application from the Filer for a decision under the securities legislation (the “Legislation”) of the Jurisdiction of the principal regulator for an exemption (the “Requested Relief”) from the prohibition in subsection 13.5(2)(b) of National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations (“NI 31-103”) which prohibits a registered adviser from knowingly causing an investment portfolio managed by it, including an investment fund for which it acts as an adviser, to purchase or sell a security from or to the investment portfolio of an associate of a responsible person or an investment fund for
which a responsible person acts as an adviser (the “Trading Prohibition”), to permit a Fund (as defined below) to purchase or sell a security from or to another Fund (as defined below) (each, an “Inter-Fund Trade”), with such Inter-Fund Trades to be executed at the last sale price, as defined in the Universal Market Integrity Rules of the Investment Industry Regulatory Organization of Canada, prior to the execution of the trade (the “Last Sale Price”), in lieu of the closing sale price (the “Closing Sale Price”) contemplated by the definition of “current market price of the security” in section 6.1(1)(a)(i) of National Instrument 81-107 Independent Review Committee for Investment Funds (“NI 81-107”) on that trading day, where the securities involved in the Inter-Fund Trade are exchange-traded securities (which term shall include Canadian and foreign-exchange securities). Under the Process for Exemptive Relief Applications in Multiple Jurisdictions (for a Passport Application):
(a) the Ontario Securities Commission is the principal regulator for this application; and
(b) the Filer has provided notice that section
4.7(1) of Multilateral Instrument 11-102 Passport System (“MI 11-102”) is also intended to be relied upon by the Filer in all of the other provinces and territories of Canada (the “Other Jurisdictions”).
Interpretation Terms defined in MI 11-102 and National Instrument 14-101 – Definitions have the same meaning if used in this decision, unless otherwise defined. The term “Fund” has the following meaning: “Fund” means an existing or future mutual fund that is a reporting issuer, subject to National Instrument 81-102 Investment Funds (“NI 81-102”), and of which the Filer or an affiliate of the Filer acts or may in future act as the manager and/or portfolio adviser. Representations This decision is based on the following facts represented by the Filer: The Filer 1. The Filer is a corporation amalgamated under the
laws of the Province of Ontario, with its head office located in Toronto, Ontario.
2. The Filer is registered under the Securities Act
(Ontario) as a portfolio manager, exempt-market
Decisions, Orders and Rulings
August 27, 2015
(2015), 38 OSCB 7332
dealer and investment fund manager, and is also registered as a portfolio manager and exempt-market dealer in the other provinces and territories of Canada, including as an investment fund manager in each of Québec and Newfoundland & Labrador. The Filer is also registered under the Commodity Futures Act (Ontario) as a commodity trading manager.
3. The Filer, or an affiliate of the Filer, is, or will be,
the manager and adviser of the Funds. In its capacity as an adviser of the Funds, the Filer or an affiliate of the Filer is or will be a “responsible person” as defined in Section 13.5(1) of NI 31-103.
The Funds 4. Each of the Funds is, or will be, established under
the laws of Canada or a province or territory of Canada as an open-ended mutual fund trust or a class of shares of a mutual fund corporation that is subject to the requirements of NI 81-102.
5. The securities of each of the Funds are, or will be,
qualified for distribution in Ontario and in one or more of the Other Jurisdictions pursuant to a simplified prospectus and annual information form. The existing Funds are currently qualified for distribution in all of the provinces and territories of Canada.
6. Each of the Funds is, or will be, a reporting issuer
in Ontario and in one or more of the Other Jurisdictions.
7. The Funds are not in default of the securities
legislation of Ontario and the Other Jurisdictions. Independent Review Committee 8. The existing Funds have, and the future Funds will
have, an independent review committee (“IRC”) in accordance with the requirements of NI 81-107.
9. The IRC of the Funds is, or will be, composed by
the Filer in accordance with section 3.7 of NI 81-107, and the IRC complies, or will comply, with the standard of care set out in section 3.9 of NI 81-107.
10. Inter-Fund Trades involving a Fund will be referred
to the IRC under subsection 5.2(1) of NI 81-107, and the Filer and the IRC will comply with section 5.4 of NI 81-107 in respect of any standing instructions the IRC provides in connection with the Inter-Fund Trade. The IRC will not approve an Inter-Fund Trade involving a fund unless it has made the determination set out in subsection 5.2(2) of NI 81-107.
Inter-Fund Trades 11. The Filer or an affiliate of the Filer wishes to be
able to cause Inter-Fund Trades of portfolio securities between one Fund and another Fund to occur at the Last Sale Price.
12. Subsection 6.1(4) of NI 81-107 provides an
exemption from the Trading Prohibition, provided that the Inter-Fund Trade occurs at the Closing Sale Price.
13. The Filer or an affiliate of the Filer cannot rely on
the exemption from the Trading Prohibition available in subsection 6.1(4) of NI 81-107 because the Inter-Fund Trades would not occur at the “current market price of the security” which, in the case of Exchange-Traded Securities, includes the Closing Sale Price, but not the Last Sale Price.
14. At the time of an Inter-Fund Trade, the Filer, or an
affiliate of the Filer, will have policies and procedures in place to enable the Funds to engage in Inter-Fund Trades.
15. The Filer, or an affiliate of the Filer, will comply
with the following procedures when entering into Inter-Fund Trades: (a) the portfolio manager of the Fund will
deliver the trade instructions in respect of a purchase or a sale of a security by a Fund (“Fund A”) to a trader on the trading desk of the Filer;
(b) the portfolio manager of the Fund will
deliver the trade instructions in respect of a sale or purchase of a security by a Fund (“Fund B”) to a trader on the trading desk of the Filer;
(c) upon receipt of the trade instructions and
the required approval, the Inter-Fund Trade between Fund A and Fund B will be executed in accordance with the requirements of paragraphs (c) to (g) of subsection 6.1(2) of NI 81-107, provided that, for exchange-traded securities, the Inter-Fund Trade may be executed at the Last Sale Price of the security prior to the execution of the trade, in lieu of the Closing Sale Price;
(d) the trader on the trading desk will be
required to execute all Inter-Fund Trades on a timely basis; and
(e) the trader on the trading desk will advise
the portfolio manager(s) of Fund A and Fund B of the price at which the Inter-Fund Trade occurred.
Decisions, Orders and Rulings
August 27, 2015
(2015), 38 OSCB 7333
16. Each Inter-Fund Trade will be consistent with the investment objectives of the relevant Funds.
17. The Filer has determined that it would be in the
best interests of the Funds if an Inter-Fund Trade is made at the Last Sale Price, because this will result in the Inter-Fund Trade being done at the price which is closest to the market price of the security at the time the decision to make the Inter-Fund Trade is made.
18. If the IRC of a Fund becomes aware of an
instance where the Filer did not comply with the terms of this decision or a condition imposed by the Legislation or the IRC in its approval, the IRC will, as soon as practicable, notify in writing the securities regulatory authority or regulator in the jurisdiction under the laws of which the Fund is organized.
Decision The principal regulator is satisfied that the decision meets the test set out in the Legislation for the principal regulator to make the decision. The decision of the principal regulator under the Legislation is that the Requested Relief is granted provided that:
(a) the Inter-Fund Trade is consistent with the investment objectives of each Fund;
(b) the Filer or an affiliate of the Filer as
manager of a Fund, refers the Inter-Fund Trade to the IRC in the manner contemplated by section 5.1 of NI 81-107, and the Filer, or an affiliate of the Filer, and the IRC of the Fund comply with section 5.4 of NI 81-107 in respect of any standing instructions the IRC provides in connection with the Inter-Fund Trade;
(c) the IRC of each Fund has approved the
Inter-Fund Trade in accordance with the terms of subsection 5.2(2) of NI 81-107; and
(d) the Inter-Fund Trade complies with
paragraphs (c) to (g) of subsection 6.1(2) of NI 81-107, except that, for purposes of paragraph (e) of subsection 6.1(2) of NI 81-107 in respect of exchange-traded securities, the current market price of the securities may be the Last Sale Price.
“Darren McKall” Manager, Investment Funds and Structured Products Branch Ontario Securities Commission
2.1.2 Coastal Gold Corp. – s. 1(10)(a)(ii) Headnote National Policy 11-203 Process for Exemptive Relief Applications in Multiple Jurisdictions – Issuer deemed to no longer be a reporting issuer under securities legislation. Applicable Legislative Provisions Securities Act, R.S.O. 1990, c. S.5, as am., s. 1(10)(a)(ii). August 21, 2015 Coastal Gold Corp. 1805 - 925 West Georgia Street Vancouver, British Columbia V6C 3L2 Dear Sir/Mesdames: Re: Coastal Gold Corp. (the Applicant) – appli-
cation for a decision under the securities legislation of Alberta and Ontario (the Jurisdictions) that the Applicant is not a reporting issuer
The Applicant has applied to the local securities regulatory authority or regulator (the Decision Maker) in each of the Jurisdictions for a decision under the securities legislation (the Legislation) of the Jurisdictions that the Applicant is not a reporting issuer. In this decision, “securityholder” means, for a security, the beneficial owner of the security. The Applicant has represented to the Decision Makers that:
(a) the outstanding securities of the Appli-cant, including debt securities, are bene-ficially owned, directly or indirectly, by fewer than 15 securityholders in each of the jurisdictions of Canada and fewer than 51 securityholders in total world-wide;
(b) securities of the Applicant, including debt
securities, are traded in Canada or another country on a marketplace as defined in National Instrument 21-101 Marketplace Operation or any other facility for bringing together buyers and sellers of securities where trading data is publicly reported;
(c) the Applicant is applying for a decision
that it is not a reporting issuer in all of the jurisdictions of Canada in which it is currently a reporting issuer; and
(d) the Applicant is not in default of any of its
obligations under the Legislation as a reporting issuer.
Decisions, Orders and Rulings
August 27, 2015
(2015), 38 OSCB 7334
Each of the Decision Makers is satisfied that the test contained in the Legislation that provides the Decision Maker with the jurisdiction to make the decision has been met and orders that the Applicant is not a reporting issuer. “Shannon O’Hearn” Manager, Corporate Finance Ontario Securities Commission
2.2 Orders 2.2.1 Mega Precious Metals Inc. – s. 1(6) of the
OBCA Headnote Applicant deemed to have ceased to be offering its securities to the public under the OBCA. Statutes Cited Business Corporations Act, R.S.O. 1990, c. B.16, as am.,
s. 1(6).
IN THE MATTER OF THE BUSINESS CORPORATIONS ACT (ONTARIO),
R.S.O. 1990, c. B.16, AS AMENDED (the “OBCA”)
AND
IN THE MATTER OF
MEGA PRECIOUS METALS INC. (the “Applicant” or “Mega”)
ORDER
(Subsection 1(6) of the OBCA) UPON the application of the Applicant to the Ontario Securities Commission (the “Commission”) for an order pursuant to subsection 1(6) of the OBCA to be deemed to have ceased to be offering its securities to the public; AND UPON the Applicant representing to the Commission that: 1. The Applicant is an “offering corporation” as
defined in the OBCA, and has an authorized capital consisting of an unlimited number of common shares (the “Mega Shares”).
2. The head office of the Applicant is located at
Royal Bank Plaza, North Tower, 200 Bay Street, Suite 2200, Toronto, ON M5J 2J3.
3. On June 22, 2015, Yamana Gold Inc. (“Yamana”)
completed the acquisition of Mega by way of plan of arrangement in accordance with Section 182 of the Business Corporations Act (Ontario) (the “Arrangement”). Pursuant to the Arrangement, Yamana acquired all of the issued and out-standing Mega Shares for consideration of 0.02092 of a common share of Yamana (each whole common share, a “Yamana Share”) and C$0.001 in cash per Mega Share. Pursuant to the Arrangement, each option to acquire a Mega Share (a “Mega Option”) outstanding immediately prior to the effective time of the Arrangement (the “Effective Time”) will be exercisable following the Effective Time for 0.02122 of a Yamana Share in lieu of one Mega Share. Pursuant to the
Decisions, Orders and Rulings
August 27, 2015
(2015), 38 OSCB 7335
Arrangement, each holder of a warrant (a “Mega Warrant”) of Mega outstanding immediately prior to the Effective Time will receive, upon the sub-sequent exercise or conversion of such holder’s Mega Warrant(s) following the Effective Time: (A) 0.02092 of a Yamana Share, and (B) $0.001 in cash for each Mega Share such holder was other-wise entitled to receive under the Mega Warrant(s). The Arrangement was approved by the shareholders of Mega on June 17, 2015. Final court approval was received on June 19, 2015.
4. The only outstanding securities of the Applicant
held by persons other than Yamana are the Mega Options and the Mega Warrants.
5. The outstanding securities of the Applicant,
including debt securities, are beneficially owned, directly or indirectly, by fewer than 15 security-holders in each of the jurisdictions in Canada and fewer than 51 securityholders in total worldwide.
6. The Applicant does not have any debt securities
outstanding. 7. The Mega Shares were delisted from the TSX
Venture Exchange on June 24, 2015. 8. No securities of the Applicant, including debt
securities, are traded in Canada or another country on a marketplace as defined in National Instrument 21-101 Marketplace Operation or any other facility for bringing together buyers and sellers of securities where trading data is publicly reported.
9. Pursuant to BC Instrument 11-502 Voluntary
Surrender of Reporting Issuer Status, the British Columbia Securities Commission confirmed the Applicant’s non-reporting issuer status in British Columbia effective July 13, 2015.
10. The Applicant is not in default of securities
legislation in any jurisdiction. 11. The Applicant has no intention to seek public
financing by way of an offering of securities. 12. On June 30, 2015, the Applicant made an
application to the Ontario Securities Commission, as principal regulator on behalf of the securities regulatory authorities in Alberta, Saskatchewan, Manitoba, Ontario, Québec, New Brunswick, Nova Scotia, Prince Edward Island, and Newfoundland and Labrador for a decision that the Applicant is not a reporting issuer (the “Reporting Issuer Relief Requested”).
13. The Reporting Issuer Relief Requested was
granted on July 22, 2015. As a result, the Applicant is not a reporting issuer or equivalent in any jurisdiction of Canada.
AND UPON the Commission being satisfied that to do so would not be prejudicial to the public interest; IT IS HEREBY ORDERED by the Commission pursuant to subsection 1(6) of the OBCA that the Applicant be deemed to have ceased to be offering its securities to the public for the purpose of the OBCA. DATED at Toronto on this 18th day of August 2015. “Christopher Portner” Ontario Securities Commission “Judith Robertson” Ontario Securities Commission
Decisions, Orders and Rulings
August 27, 2015
(2015), 38 OSCB 7336
2.2.2 Portfolio Capital Inc. et al. – ss. 127, 127.1
IN THE MATTER OF THE SECURITIES ACT,
R.S.O. 1990, c. S.5, AS AMENDED
AND
IN THE MATTER OF PORTFOLIO CAPITAL INC., DAVID ROGERSON and
AMY HANNA-ROGERSON
ORDER (Sections 127 and 127.1)
WHEREAS 1. On March 25, 2013, the Ontario Securities Commission (the “Commission”) issued a Notice of Hearing pursuant to
sections 127 and 127.1 of the Securities Act, R.S.O. 1990 c. S.5, as amended (the “Act”) in connection with a Statement of Allegations filed by Staff of the Commission on March 25, 2013 with respect to Portfolio Capital Inc. (“Portfolio Capital”), David Rogerson (“Rogerson”) and Amy Hanna-Rogerson (“Hanna-Rogerson” and, together with Rogerson, the “Individual Respondents”);
2. Staff issued an Amended Statement of Allegations on June 4, 2013, and an Amended Amended Statement of
Allegations on June 26, 2013; 3. Following the hearing on the merits, the Commission issued its Reasons and Decision with respect to the merits on
February 26, 2015 (the “Merits Decision”); 4. The Commission determined that Portfolio Capital, Rogerson and Hanna-Rogerson (collectively, the “Respondents”)
had not complied with Ontario securities law and had acted contrary to the public interest, as described in the Merits Decision;
5. On May 20, 2015, the Commission held a hearing with respect to the sanctions and costs to be imposed in this matter; 6. On August 19, 2015, the Commission released its Reasons and Decision on Sanctions and Costs in this matter; 7. The Commission is of the opinion that it is in the public interest to make this order; IT IS ORDERED that: 1. (a) With respect to the Individual Respondents:
(i) pursuant to clause 2 of subsection 127(1) of the Act, trading in any securities or derivatives by the
Individual Respondents shall cease permanently; (ii) pursuant to clause 2.1 of subsection 127(1) of the Act, the acquisition of any securities or derivatives
by the Individual Respondents is prohibited permanently; (iii) pursuant to clause 3 of subsection 127(1) of the Act, any exemptions contained in Ontario securities
law do not apply to the Individual Respondents permanently; (iv) pursuant to clauses 7, 8.1 and 8.3 of subsection 127(1) of the Act, the Individual Respondents shall
resign any position that they hold as a director or officer of an issuer, registrant, or investment fund manager;
(v) pursuant to clauses 8, 8.2 and 8.4 of subsection 127(1) of the Act, the Individual Respondents shall
be prohibited permanently from becoming or acting as a director or officer of any issuer, registrant, or investment fund manager; and
(vi) pursuant to clause 8.5 of subsection 127(1) of the Act, the Individual Respondents shall be prohibited
permanently from becoming or acting as a registrant, as an investment fund manager, or as a promoter;
Decisions, Orders and Rulings
August 27, 2015
(2015), 38 OSCB 7337
(b) With respect to the Respondents, pursuant to clause 10 of subsection 127(1) of the Act, the Respondents shall jointly and severally disgorge to the Commission $1.7 million, which amount shall be designated for allocation or for use by the Commission in accordance with paragraphs (b)(i) or (ii) of subsection 3.4(2) of the Act;
(c) With respect to Rogerson:
(i) pursuant to clause 9 of subsection 127(1) of the Act, Rogerson shall pay an administrative penalty of $500,000 for his multiple failures to comply with Ontario securities law, which amount shall be designated for allocation or use by the Commission in accordance with paragraphs (b)(i) or (ii) of subsection 3.4(2) of the Act; and
(ii) pursuant to subsections 127.1(1) and (2) of the Act, Rogerson shall pay investigation and hearing
costs of $309,812.56, of which $150,000 shall be payable on a joint and several basis with Hanna-Rogerson and Portfolio Capital, and the remaining $159,812.56 of which shall be payable on a joint and several basis with Portfolio Capital;
(d) With respect to Hanna-Rogerson:
(i) pursuant to clause 9 of subsection 127(1) of the Act, Hanna-Rogerson shall pay an administrative penalty of $150,000 for her multiple failures to comply with Ontario securities law, which amount shall be designated for allocation or use by the Commission in accordance with paragraphs (b)(i) or (ii) of subsection 3.4(2) of the Act; and
(ii) pursuant to subsections 127.1(1) and (2) of the Act, Hanna-Rogerson shall pay investigation and
hearing costs of $150,000 on a joint and several basis with Rogerson and Portfolio Capital;
(e) With respect to Portfolio Capital:
(i) pursuant to clause 2 of subsection 127(1) of the Act, trading in any securities or derivatives by Portfolio Capital shall cease permanently;
(ii) pursuant to clause 2.1 of subsection 127(1) of the Act, the acquisition of any securities or derivatives
by Portfolio Capital is prohibited permanently; (iii) pursuant to clause 3 of subsection 127(1) of the Act, any exemptions contained in Ontario securities
law do not apply to Portfolio Capital permanently; and (iv) pursuant to subsections 127.1(1) and (2) of the Act, Portfolio Capital shall pay investigation and
hearing costs of $309,812.56, of which $150,000 shall be payable on a joint and several basis with the Hanna-Rogerson and Portfolio Capital and the remaining $159,812.56 of which shall be payable on a joint and several basis with Rogerson.
2. After each of the Individual Respondents has made full payment of the amounts that he or she is required to pay
pursuant to paragraph [1] the above order, he or she, as the case may be, shall be entitled, as an exception to the pro-visions of subparagraphs (i), (ii) and (iii) of paragraph [1](a) of the above order, to trade in or acquire securities in any registered retirement savings plan accounts and/or tax-free savings accounts and/or registered education savings plan and/or personal trading accounts, for which he or she has the sole legal and beneficial ownership, or is a sponsor, or for any immediate family member.
DATED at Toronto this 19th day of August, 2015. “Christopher Portner”
Decisions, Orders and Rulings
August 27, 2015
(2015), 38 OSCB 7338
2.2.3 Bigfoot Recreation & Ski Area Ltd. and Ronald Stephen McHaffie – s. 127
IN THE MATTER OF
THE SECURITIES ACT, R.S.O. 1990, c. S.5, AS AMENDED
AND
IN THE MATTER OF
BIGFOOT RECREATION & SKI AREA LTD. and RONALD STEPHEN MCHAFFIE
ORDER
(Section 127) WHEREAS 1. On September 22, 2014, the Ontario Securities
Commission (the “Commission”) issued a Notice of Hearing pursuant to sections 127 of the Securities Act, R.S.O. 1990 c. S.5, as amended (the “Act”) in respect of Bigfoot Recreation & Ski Area Ltd. (“Bigfoot”) and Ronald Stephen McHaffie (“McHaffie”) (together, the “Respondents”);
2. On September 22, 2014, Staff of the Commission
(“Staff”) filed a Statement of Allegations in respect of the same matter;
3. On October 24, 2014, Staff filed an affidavit of
service sworn by Lee Crann, a Law Clerk with the Commission, which documented steps taken by Staff to serve the Respondents with the Notice of Hearing, Statement of Allegations and Staff’s disclosure materials, and made submissions to the Commission;
4. On October 24, 2014, the Commission ordered
that: a. the Respondents shall advise of any
objections they have to proceeding by way of written hearing within 5 days following service of the October 24, 2014 order; and
b. once Staff has advised the Office of the
Secretary that the period for objections has passed, the Commission will issue an order addressing Staff’s application;
5. Both of the Respondents received service of the
October 24, 2014 order no later than November 4, 2014;
6. Staff received no communication from the
Respondents in relation to Staff’s application to proceed by way of written hearing within the time allotted by the Commission’s Rules of Procedure;
7. On November 19, 2014, the Commission made an order granting Staff’s application to proceed by written hearing;
8. Staff filed the affidavit of service of Lee Crann,
sworn December 3, 2014, confirming service of the Commission’s order dated November 19, 2014 on the Respondents;
9. Staff filed written submissions, a hearing brief and
a brief of authorities; 10. The Respondents did not file any responding
materials; 11. The Commission is of the opinion that it is in the
public interest to make this order; IT IS ORDERED that: 1. against McHaffie that:
a. pursuant to paragraph 2 of subsection
127(1) of the Act, trading in any securities by McHaffie cease permanently;
b. pursuant to paragraph 2.1 of subsection
127(1) of the Act, acquisition of any securities by McHaffie be prohibited permanently;
c. pursuant to paragraphs 7 and 8.1 of
subsection 127(1) if the Act, McHaffie resign any position that he holds as a director or officer of any issuer or registrant;
d. pursuant to paragraphs 8 and 8.2 of
subsection 127(1) of the Act, McHaffie be prohibited permanently from becoming or acting as an officer or director of any issuer or registrant; and
e. pursuant to paragraph 8.5 of subsection
127(1) of the Act, McHaffie be prohibited permanently from becoming or acting as a registrant or as a promotor;
2. against Bigfoot that:
a. pursuant to paragraph 2 of subsection 127(1) of the Act, trading in any securities of Bigfoot cease permanently;
b. pursuant to paragraph 2 of subsection
127(1) of the Act, trading in any securities by Bigfoot cease permanently;
c. pursuant to paragraph 2.1 of subsection
127(1) of the Act, acquisition of any securities by Bigfoot be prohibited permanently; and
Decisions, Orders and Rulings
August 27, 2015
(2015), 38 OSCB 7339
d. pursuant to paragraph 8.5 of subsection 127(1) of the Act, Bigfoot be prohibited permanently from becoming or acting as a registrant or as a promoter.
DATED at Toronto this 20th day of August, 2015. “Mary G. Condon”
Decisions, Orders and Rulings
August 27, 2015
(2015), 38 OSCB 7340
2.2.4 iShares FactorSelectTM MSCI Canada Index ETF et al. – s. 1.1 Headnote Certain mutual funds designated as exchange-traded funds for the purposes of OSC Rule 48-501. Rules Cited Ontario Securities Commission Rule 48-501 Trading During Distributions, Formal Bids and Share Exchange Transactions,
s. 1.1.
IN THE MATTER OF ONTARIO SECURITIES COMMISSION RULE 48-501 –
TRADING DURING DISTRIBUTIONS, FORMAL BIDS AND SHARE EXCHANGE TRANSACTIONS (Rule)
AND
IN THE MATTER OF
iShares FactorSelectTM MSCI Canada Index ETF (“XFC”), iShares FactorSelectTM MSCI EAFE Index ETF (“XFI”),
iShares FactorSelectTM MSCI EAFE Index ETF (CAD-Hedged) (“XFF”), iShares FactorSelectTM MSCI USA Index ETF (“XFU”),
iShares FactorSelectTM MSCI USA Index ETF (CAD-Hedged) (“XFA”) (and collectively, the Funds)
DESIGNATION ORDER
(Section 1.1)
WHEREAS each of the Funds is or will be listed on the Toronto Stock Exchange; AND WHEREAS under the Universal Market Integrity Rules (UMIR), each of the Funds is an Exempt Exchange-traded Fund that is not subject to prohibitions related to trading during certain securities transactions; AND WHEREAS the definition of “exchange-traded fund” in the Rule is substantially similar to the definition of Exempt Exchange-traded Fund in UMIR; AND WHEREAS the purpose of the Rule and UMIR are substantially similar; AND WHEREAS each of the Funds would be subject to prohibitions relating to trading during certain securities transactions under the Rule if it is not designated by the Director; THE DIRECTOR HEREBY DESIGNATES each of the Funds as an exchange-traded fund for the purposes of the Rule. Dated August 20, 2015 “Tracey Stern” Manager, Market Regulation
Decisions, Orders and Rulings
August 27, 2015
(2015), 38 OSCB 7341
2.2.5 Authorization Order – s. 3.5(3)
IN THE MATTER OF THE SECURITIES ACT,
R.S.O. 1990, CHAPTER S.5, AS AMENDED (the “Act”)
AND
IN THE MATTER OF
AN AUTHORIZATION PURSUANT TO SUBSECTION 3.5(3) OF THE ACT
AUTHORIZATION ORDER (Subsection 3.5(3))
WHEREAS a quorum of the Ontario Securities Commission (the “Commission”) may, pursuant to subsection 3.5(3) of the Act, in writing authorize any member of the Commission to exercise any of the powers and perform any of the duties of the Commission, including the power to conduct contested hearings on the merits. AND WHEREAS, by an authorization order made on August 14, 2015, pursuant to subsection 3.5(3) of the Act (“Authorization”), the Commission authorized each of HOWARD I. WETSTON, MONICA KOWAL, MARY G. CONDON, EDWARD P. KERWIN, JANET LEIPER, ALAN J. LENCZNER, TIMOTHY MOSELEY, and CHRISTOPHER PORTNER acting alone, to exercise, subject to subsection 3.5(4) of the Act, the powers of the Commission to grant adjournments and set dates for hearings, to hear and determine procedural matters, and to make and give any orders, directions, appointments, applications and consents under sections 5, 11, 12, 17, 19, 20, 122, 126, 127, 128, 129, 144, 146 and 152 of the Act that the Commission is authorized to make and give, including the power to conduct contested hearings on the merits. NOW, THEREFORE, IT IS ORDERED that the Authorization is hereby revoked; THE COMMISSION HEREBY AUTHORIZES, pursuant to subsection 3.5(3) of the Act, each of HOWARD I. WETSTON, MONICA KOWAL, D. GRANT VINGOE, MARY G. CONDON, EDWARD P. KERWIN, JANET LEIPER, ALAN J. LENCZNER, TIMOTHY MOSELEY, and CHRISTOPHER PORTNER acting alone, to exercise, subject to subsection 3.5(4) of the Act, the powers of the Commission to grant adjournments and set dates for hearings, to hear and determine procedural matters, and to make and give any orders, directions, appointments, applications and consents under sections 5, 11, 12, 17, 19, 20, 122, 126, 127, 128, 129, 144, 146 and 152 of the Act that the Commission is authorized to make and give, including the power to conduct contested hearings on the merits; and THE COMMISSION FURTHER ORDERS that this Authorization Order shall have full force and effect until revoked or such further amendment may be made. DATED at Toronto, this 21st day of August, 2015. “Deborah Leckman” “William J. Furlong” Deborah Leckman, Commissioner William J. Furlong, Commissioner
Decisions, Orders and Rulings
August 27, 2015
(2015), 38 OSCB 7342
2.2.6 Clifford Todd Monaghan
IN THE MATTER OF THE SECURITIES ACT,
R.S.O. 1990, c. S.5, AS AMENDED
AND
IN THE MATTER OF A HEARING AND REVIEW OF THE DECISION OF
THE INVESTMENT INDUSTRY REGULATORY ORGANIZATION OF CANADA REGARDING PORTFOLIO STRATEGIES SECURITIES INC.
AND
IN THE MATTER OF
CLIFFORD TODD MONAGHAN
ORDER WHEREAS: 1. on August 10, 2015, the Ontario Securities Commission (the “Commission”) issued a Notice of Hearing, pursuant to
sections 8 and 21.7 of the Securities Act, R.S.O. 1990, c.S.5, as amended (the “Act”), in relation to an application made by Clifford Todd Monaghan (the “Applicant”) for a Hearing and Review of a Decision of the Investment Industry Regulatory Organization Of Canada (“IIROC”), which approved an Application for Investors Holding 10% or More of an IIROC Member Firm that was filed by Portfolio Strategies Securities Inc. (“PSSI”);
2. on August 18, 2015, the Applicant, IIROC Staff, Staff of the Commission and counsel for PSSI appeared at a
confidential pre-hearing conference and made submissions; and 3. the Commission is of the opinion that it is in the public interest to make this order; IT IS ORDERED that: 1. the Applicant shall serve and file an amended application, if any, by August 28, 2015; 2. IIROC Staff, Staff of the Commission and PSSI shall serve and file motions, if any, including motion records and
memoranda of fact and law, by September 4, 2015; 3. the Applicant shall serve and file a responding motion record and memoranda of fact and law, if any, by September 11,
2015; 4. PSSI’s cross-examination on Monaghan’s affidavits, if any, shall take place on September 14, 2015; and 5. a motion hearing, if any, shall take place on September 16, 2015 at 11:00 a.m. DATED at Toronto, this 18th day of August, 2015. “Alan Lenczner”
Decisions, Orders and Rulings
August 27, 2015
(2015), 38 OSCB 7343
2.2.7 Agrium Inc. – s. 104(2)(c) Headnote Subsection 104(2)(c) of the Act – Issuer bid – relief from issuer bid requirements in sections 94 to 94.8 and 97 to 98.7 of the Act – Issuer proposes to purchase, at a discounted purchase price, from two of its shareholders an aggregate of up to 1,140,000 of its common shares – due to the discounted purchase price, proposed purchases cannot be made through the TSX trading system – but for the fact that the proposed purchases cannot be made through the TSX trading system, the Issuer could otherwise acquire the subject shares in reliance upon the issuer bid exemption available under section 101.2 of the Act and in accordance with the TSX rules governing normal course issuer bid purchases – the selling shareholders did not purchase the subject shares in anticipation or contemplation of resale to the Issuer and have not, for a minimum of 30 days prior to the date of the application seeking the requested relief, purchased common shares of the Issuer in anticipation or contemplation of a sale of common shares to the Issuer – no adverse economic impact on, or prejudice to, the Issuer or public shareholders – proposed purchases exempt from the issuer bid requirements in sections 94 to 94.8 and 97 to 98.7 of the Act, subject to conditions, including that the Issuer not purchase, in the aggregate, more than one-third of the maximum number of shares to be purchased under its normal course issuer bid by way of off-exchange block purchases, and that the Issuer not make any proposed purchase unless it has first obtained written confirmation from each selling shareholder that between the date of the order and the date on which the proposed purchase is completed, neither selling shareholder has purchased, had purchased on its behalf, or otherwise accumulated, any common shares of the Issuer to re-establish its, or the other selling shareholder's, holdings of common shares which will have been reduced as a result of the sale of the subject shares pursuant to the proposed purchases. Applicable Legislative Provisions Securities Act, R.S.O. 1990, c. S.5, as am., ss. 94 to 94.8, 97 to 98.7, 104(2)(c).
IN THE MATTER OF THE SECURITIES ACT,
R.S.O. 1990, c. S.5, AS AMENDED
AND
IN THE MATTER OF AGRIUM INC.
ORDER
(CLAUSE 104(2)(c))
UPON the application (the Application) of Agrium Inc. (the Issuer) to the Ontario Securities Commission (the Commission) for an order pursuant to clause 104(2)(c) of the Securities Act (Ontario) (the Act) exempting the Issuer from the requirements of sections 94 to 94.8, inclusive, and sections 97 to 98.7, inclusive, of the Act (the Issuer Bid Requirements) in connection with the proposed purchases by the Issuer of up to 1,140,000 common shares of the Issuer (collectively, the Subject Shares) in one or more trades, from BMO Nesbitt Burns Inc. and/or Bank of Montreal (each, a Selling Shareholder and together, the Selling Shareholders); AND UPON considering the Application and the recommendation of staff of the Commission; AND UPON the Issuer (and each Selling Shareholder in respect of paragraphs 5, 6, 7, 8, 9, 10, 14, 25 and 26 as they relate to such Selling Shareholder) having represented to the Commission that: 1. The Issuer is a corporation governed by the Canada Business Corporations Act. 2. The registered and head office of the Issuer is located at 13131 Lake Fraser Drive S.E., Calgary, Alberta, T2J 7E8. 3. The Issuer is a reporting issuer in each of the provinces and territories of Canada and the common shares of the Issuer
(the Common Shares) are listed for trading on the Toronto Stock Exchange (the TSX) and the New York Stock Exchange (the NYSE) under the symbol "AGU". The Issuer is not in default of any requirement of the securities legislation in the jurisdictions in which it is a reporting issuer.
4. The authorized share capital of the Issuer consists of an unlimited number of Common Shares, of which 142,791,278
were outstanding as of the close of business on August 10, 2015 and an unlimited number of preferred shares, none of which were outstanding as of the close of business on August 10, 2015.
Decisions, Orders and Rulings
August 27, 2015
(2015), 38 OSCB 7344
5. The corporate headquarters of each of the Selling Shareholders are located in the Province of Ontario. The Selling Shareholders are affiliates of each other.
6. Neither of the Selling Shareholders, directly or indirectly, owns more than 5% of the issued and outstanding Common
Shares. 7. BMO Nesbitt Burns Inc. is the beneficial owner of at least 900,000 Common Shares and Bank of Montreal is the
beneficial owner of at least 240,000 Common Shares. None of the Subject Shares were acquired by, or on behalf of, either of the Selling Shareholders in anticipation or contemplation of resale by either of the Selling Shareholders to the Issuer.
8. The Subject Shares are held by the Selling Shareholders in connection with arrangements to hedge client transactions
in respect of the Common Shares. Between the date of this Order and the date on which a Proposed Purchase (as defined below) is to be completed, neither Selling Shareholder will purchase, have purchased on its behalf, or otherwise accumulate, any Common Shares to re-establish its, or the other Selling Shareholder’s, holdings of Common Shares which will have been reduced as a result of the sale of the Subject Shares pursuant to the Proposed Purchases.
9. No Common Shares were purchased by, or on behalf of, either of the Selling Shareholders on or after July 12, 2015,
being the date that was 30 days prior to the date of the Application, in anticipation or contemplation of a sale of the Common Shares by either of the Selling Shareholders to the Issuer.
10. Each of the Selling Shareholders is at arm's length to the Issuer and is not an "insider" of the Issuer, an "associate" of
an "insider" of the Issuer, or an "associate" or "affiliate" of the Issuer, as such terms are defined in the Act. Each of the Selling Shareholders is an "accredited investor" within the meaning of National Instrument 45-106 Prospectus Exemptions.
11. Pursuant to a Notice of Intention to make a Normal Course Issuer Bid dated and filed with the TSX on January 21,
2015 (the Notice), the Issuer is permitted to make normal course issuer bid purchases for the period starting on January 26, 2015 and ending on January 25, 2016 and for a maximum of 7,185,866 Common Shares (the Normal Course Issuer Bid), representing approximately 5% of the Issuer's issued and outstanding Common Shares. In accordance with the Notice, the Normal Course Issuer Bid is conducted through the facilities of the TSX, Canadian alternative trading systems and the NYSE. To date, 2,254,331 Common Shares have been purchased under the Normal Course Issuer Bid.
12. The Issuer implemented an automatic repurchase plan (the ARP) to permit the Issuer to make purchases under its
Normal Course Issuer Bid at such times when the Issuer activates the ARP in advance of periods when it would not be permitted to trade in its Common Shares due to the occurrence of a regularly scheduled quarterly blackout. The ARP was approved by the TSX, and complies with the TSX Company Manual, applicable securities laws and this Order. While it is not expected that the Issuer would activate the ARP during the time in which it would complete a Proposed Purchase, in the event that the ARP was active during such a period, the ARP will contain provisions restricting the Issuer from conducting a Block Purchase (as defined below) in accordance with the TSX NCIB Rules (as defined below) during the calendar week in which the Issuer completes a Proposed Purchase and will otherwise comply with this Order. Under the terms of the ARP, at times when the Issuer is not subject to blackout restrictions, the Issuer may, but is not required to, instruct the designated broker to make purchases under the Normal Course Issuer Bid in accordance with the terms of the ARP. Such purchases under the ARP will be determined by the designated broker in its sole discretion based on parameters established by the Issuer prior to any blackout period in accordance with the TSX NCIB Rules (as defined below), applicable securities laws and the terms of the agreement between the designated broker and the Issuer. No Subject Shares will be acquired under the ARP or otherwise during any of the Issuer's blackout periods.
13. The Issuer has notified the TSX of its intention to supplement its Normal Course Issuer Bid to include purchases as
may be permitted by the TSX or a securities regulatory authority in accordance with sections 628 to 629.3 of Part VI of the TSX Company Manual (the TSX NCIB Rules), including by private agreements under issuer bid exemption orders issued by a securities regulatory authority (each, an Off-Exchange Block Purchase) and the TSX has indicated that it will not object to such Off-Exchange Block Purchases being completed pursuant to the Normal Course Issuer Bid.
14. The Issuer and each Selling Shareholder intend to enter into one or more agreements of purchase and sale (each, an
Agreement), pursuant to which the Issuer will agree to acquire some or all of the Subject Shares from the applicable Selling Shareholder by one or more purchases each occurring before November 30, 2015 (each such purchase, a Proposed Purchase) for a purchase price (each such price, a Purchase Price in respect of such Proposed Purchase) that will be negotiated at arm's length between the Issuer and the applicable Selling Shareholder. The Purchase Price
Decisions, Orders and Rulings
August 27, 2015
(2015), 38 OSCB 7345
will, in each case, be at a discount to the prevailing market price of the Common Shares on the TSX and below the bid-ask price for the Common Shares on the TSX at the time of the relevant Proposed Purchase.
15. The Subject Shares acquired under each Proposed Purchase will constitute a "block", as that term is defined in section
628 of the TSX NCIB Rules. 16. The purchase of any of the Subject Shares by the Issuer pursuant to an Agreement will constitute an "issuer bid" for
purposes of the Act, to which the Issuer Bid Requirements would apply. 17. Because the Purchase Price will, in each case, be at a discount to the prevailing market price and below the bid-ask
price for the Common Shares on the TSX at the time of the relevant Proposed Purchase, the Proposed Purchases cannot be made through the TSX trading system and, therefore, will not occur "through the facilities" of the TSX. As a result, the Issuer will be unable to acquire the Subject Shares from the Selling Shareholders in reliance upon the exemption from the Issuer Bid Requirements that is available pursuant to subsection 101.2(1) of the Act.
18. But for the fact that the Purchase Price will be at a discount to the prevailing market price and below the bid-ask price
for the Common Shares on the TSX at the time of the relevant Proposed Purchase, the Issuer could otherwise acquire the applicable Subject Shares as a "block purchase" (a Block Purchase) on the TSX in accordance with the block purchase exception in clause 629(l)7 of the TSX NCIB Rules and the exemption from the Issuer Bid Requirements that is available pursuant to subsection 101.2(1) of the Act.
19. The sale of any of the Subject Shares to the Issuer will not be a "distribution" (as defined in the Act). 20. For each Proposed Purchase, the Issuer will be able to acquire the applicable Subject Shares from the applicable
Selling Shareholder without the Issuer being subject to the dealer registration requirements of the Act. 21. Management of the Issuer is of the view that: (a) the Issuer will be able to purchase the Subject Shares at a lower price
than the price at which it would be able to purchase Common Shares under the Normal Course Issuer Bid through the facilities of the TSX and (b) the Proposed Purchases are an appropriate use of the Issuer's funds.
22. The purchase of the Subject Shares will not adversely affect the Issuer or the rights of any of the Issuer's security
holders and it will not materially affect the control of the Issuer. To the knowledge of the Issuer, the Proposed Purchases will not prejudice the ability of other security holders of the Issuer to otherwise sell Common Shares in the open market at the then-prevailing market price. The Proposed Purchases will be carried out at minimal cost to the Issuer.
23. To the best of the Issuer's knowledge, as of the close of business on August 10, 2015, the "public float" of the Issuer's
Common Shares represented approximately 99.93% of all issued and outstanding Common Shares for purposes of the TSX NCIB Rules.
24. The Common Shares are "highly liquid securities" within the meaning of section 1.1 of OSC Rule 48-501 Trading during
Distributions, Formal Bids and Share Exchange Transactions and section 1.1 of the Universal Market Integrity Rules. 25. Other than the Purchase Price, no fee or other consideration will be paid in connection with the Proposed Purchases. 26. At the time that each Agreement is entered into by the Issuer and the applicable Selling Shareholder and at the time of
each Proposed Purchase, neither the Issuer, nor any member of the Trading Products Group of either Selling Shareholder, nor any personnel of the Selling Shareholders that negotiated the Agreement or made, participated in the making of, or provided advice in connection with, the decision to enter into the Agreement and sell the Subject Shares, will be aware of any "material change" or "material fact" (each as defined in the Act) in respect of the Issuer that has not been generally disclosed.
27. The Issuer will not make any Proposed Purchase unless it has first obtained confirmation in writing from each Selling
Shareholder that, between the date of this Order and the date on which a Proposed Purchase is to be completed, neither Selling Shareholder has purchased, had purchased on its behalf, or otherwise accumulated, any Common Shares to re-establish its, or the other Selling Shareholder’s, holdings of Common Shares which will have been reduced as a result of the sale of the Subject Shares pursuant to the Proposed Purchases.
28. The Issuer will not purchase, pursuant to Off-Exchange Block Purchases, in the aggregate, more than one-third of the
maximum number of Common Shares that the Issuer can purchase under the Normal Course Issuer Bid, such one-third being equal to 2,395,288 Common Shares as of the date of this Order.
Decisions, Orders and Rulings
August 27, 2015
(2015), 38 OSCB 7346
29. The Commission granted the Issuer an order on June 12, 2015 pursuant to clause 104(2)(c) of the Act exempting the Issuer from the Issuer Bid Requirements in connection with purchases by the Issuer pursuant to private agreements of up to 1,175,000 Common Shares from The Toronto-Dominion Bank (the Existing Order). To date, the Issuer has acquired 1,175,000 Common Shares under the Existing Order.
30. The Issuer will not purchase Common Shares pursuant to the Proposed Purchases during designated blackout periods
designated and administered in accordance with the Issuer's corporate policies. 31. Assuming completion of the purchase of the maximum number of Subject Shares, being 1,140,000 Common Shares,
and the maximum number of Common Shares pursuant to the Existing Order, being 1,175,000 Common Shares, the Issuer will have purchased under the Normal Course Issuer Bid an aggregate of 2,315,000 Common Shares pursuant to Off-Exchange Block Purchases, representing approximately 32.33% of the maximum of 7,185,866 Common Shares authorized to be purchased under the Normal Course Issuer Bid.
AND UPON the Commission being satisfied to do so would not be prejudicial to the public interest; IT IS ORDERED pursuant to clause 104(2)(c) of the Act that the Issuer be exempt from the Issuer Bid Requirements in connection with the Proposed Purchases, provided that: (a) the Proposed Purchases will be taken into account by the Issuer when calculating the maximum annual aggregate limit
that is imposed upon the Issuer's Normal Course Issuer Bid in accordance with the TSX NCIB Rules; (b) the Issuer will refrain from conducting either a Block Purchase in accordance with the TSX NCIB Rules or another Off-
Exchange Block Purchase during the calendar week in which it completes any Proposed Purchase and will not make any further purchases under the Normal Course Issuer Bid for the remainder of the calendar day on which it completes each Proposed Purchase;
(c) the Purchase Price in respect of each Proposed Purchase will be at a discount to the last "independent trade" (as that
term is used in paragraph 629(l)1 of the TSX NCIB Rules) of a board lot of Common Shares immediately prior to the execution of such Proposed Purchase;
(d) the Issuer will otherwise acquire any additional Common Shares pursuant to the Normal Course Issuer Bid and in
accordance with the Notice and the TSX NCIB Rules, as applicable, subject to condition (i) below; (e) immediately following each Proposed Purchase of Subject Shares from a Selling Shareholder, the Issuer will report the
purchase of such Subject Shares to the TSX; (f) at the time that each Agreement is entered into by the Issuer and the applicable Selling Shareholder and at the time of
each Proposed Purchase, neither the Issuer, nor any member of the Trading Products Group of either Selling Shareholder, nor any personnel of the Selling Shareholders that negotiated the Agreement or made, participated in the making of, or provided advice in connection with, the decision to enter into the Agreement and sell the Subject Shares, will be aware of any "material change" or "material fact" (each as defined in the Act) in respect of the Issuer that has not been generally disclosed;
(g) in advance of the first Proposed Purchase, the Issuer will issue a press release disclosing (i) its intention to make the
Proposed Purchases, and (ii) that information regarding each Proposed Purchase, including the number of Common Shares purchased and the aggregate Purchase Price, will be available on the System for Electronic Document Analysis and Retrieval (SEDAR) following the completion of each such Proposed Purchase;
(h) the Issuer will report information regarding each Proposed Purchase, including the number of Subject Shares
purchased and the aggregate Purchase Price, on SEDAR before 5:00 p.m. (Toronto time) on the business day following such Proposed Purchase;
(i) the Issuer does not purchase, pursuant to Off-Exchange Block Purchases, in the aggregate more than one-third of the
maximum number of Common Shares the Issuer can purchase under the Normal Course Issuer Bid, such one-third being equal to, as of the date of this Order, 2,395,288 Common Shares; and
(j) the Issuer will not make any Proposed Purchase unless it has first obtained confirmation in writing from each Selling
Shareholder that, between the date of this Order and the date on which a Proposed Purchase is to be completed, neither Selling Shareholder has purchased, had purchased on its behalf, or otherwise accumulated, any Common Shares to re-establish its, or the other Selling Shareholder’s, holdings of Common Shares which will have been reduced as a result of the sale of the Subject Shares pursuant to the Proposed Purchases.
Decisions, Orders and Rulings
August 27, 2015
(2015), 38 OSCB 7347
DATED at Toronto, Ontario this 21st day of August, 2015. “William Furlong” Commissioner Ontario Securities Commission “Deborah Leckman” Commissioner Ontario Securities Commission
Decisions, Orders and Rulings
August 27, 2015
(2015), 38 OSCB 7348
2.2.8 Coastal Gold Corp. – s. 1(6) of the OBCA Headnote Subsection 1(6) of the Business Corporations Act (Ontario) – application for an order that the issuer is deemed to have ceased to be offering its securities to the public – the applicant is a wholly owned subsidiary of another issuer as a result of a plan of arrangement under the Business Corporations Act (Ontario). Statutes Cited Business Corporations Act, R.S.O. 1990, c. B.16 as am., s. 1(6).
IN THE MATTER OF THE BUSINESS CORPORATIONS ACT (ONTARIO),
R.S.O. 1990, c. B.16, AS AMENDED (the “OBCA”)
AND
IN THE MATTER OF
COASTAL GOLD CORP. (the “Applicant” or “Coastal”)
ORDER
(Subsection 1(6) of the OBCA) UPON the application of the Applicant to the Ontario Securities Commission (the “Commission”) for an order pursuant to subsection 1(6) of the OBCA to be deemed to have ceased to be offering its securities to the public; AND UPON the Applicant representing to the Commission that: 1. The Applicant is an “offering corporation” as defined in the OBCA, and has an authorized capital consisting of an
unlimited number of common shares (the “Common Shares”). 2. The Applicant's head office is located at 1805 - 925 West Georgia Street, Vancouver, British Columbia, V6C 3L2. 3. As of July 7, 2015, First Mining Finance Corp. acquired 100% of the issued and outstanding Common Shares pursuant
to a plan of arrangement. 4. The Common Shares have been de-listed from the TSX Venture Exchange, effective as of the close of trading on July
10, 2015. 5. Other than the Common Shares held by First Mining Finance Corp., the Applicant has no other securities outstanding,
including debt securities. 6. No securities of the Applicant, including debt securities, are traded in Canada or another country on a marketplace as
defined in National Instrument 21-101 Marketplace Operation or any other facility for bringing together buyers and sellers of securities where trading data is publicly reported.
7. Pursuant to BC Instrument 11-502 Voluntary Surrender of Reporting Issuer Status, the British Columbia Securities
Commission confirmed the Applicant's non-reporting issuer status in British Columbia effective July 27, 2015. 8. The Applicant is a reporting issuer, or the equivalent, in Alberta and Ontario. 9. The Applicant is not in default of securities legislation in any jurisdiction. 10. The Applicant has no intention to seek public financing by way of an offering of securities. 11. On July 16, 2015, the Applicant made an application to the Ontario Securities Commission, as principal regulator on
behalf of the securities regulatory authorities in Alberta and Ontario, for a decision that the Applicant is not a reporting issuer in Alberta and Ontario (the “Reporting Issuer Requested Relief”).
Decisions, Orders and Rulings
August 27, 2015
(2015), 38 OSCB 7349
12. Upon the granting of the Reporting Issuer Relief Requested, the Applicant will not be a reporting issuer or equivalent in any jurisdiction of Canada.
AND UPON the Commission being satisfied that to do so would not be prejudicial to the public interest; IT IS HEREBY ORDERED by the Commission pursuant to subsection 1(6) of the OBCA that the Applicant be deemed to have ceased to be offering its securities to the public for the purpose of the OBCA. DATED at Toronto this 21st day of August, 2015. “Deborah Leckman” Ontario Securities Commission “William Furlong” Ontario Securities Commission
Decisions, Orders and Rulings
August 27, 2015
(2015), 38 OSCB 7350
2.2.9 Ground Wealth Inc. et al.
IN THE MATTER OF THE SECURITIES ACT,
R.S.O. 1990, c. S.5, AS AMENDED
AND
IN THE MATTER OF GROUND WEALTH INC., MICHELLE DUNK, ADRION
SMITH, JOEL WEBSTER, DOUGLAS DEBOER, ARMADILLO ENERGY INC., ARMADILLO ENERGY,
INC., and ARMADILLO ENERGY, LLC (aka ARMADILLO ENERGY LLC)
ORDER
WHEREAS: 1. On February 1, 2013, the Ontario Securities
Commission (the “Commission”) issued a Notice of Hearing pursuant to sections 127 and 127.1 of the Securities Act, R.S.O. 1990, c. S.5, as amended (the “Act”), in relation to the Statement of Allegations, dated February 1, 2013, filed by Staff of the Commission (“Staff”), naming as respondents Ground Wealth Inc. (“GWI”), Michelle Dunk (“Dunk”), Adrion Smith (“Smith”), Joel Webster (“Webster”), Douglas DeBoer (“DeBoer”), Armadillo Energy Inc. (“Armadillo Texas”), Armadillo Energy, Inc. (“Armadillo Nevada”) and Armadillo Energy, LLC (“Armadillo Oklahoma”);
2. On October 31, 2013, the Commission issued an
Amended Notice of Hearing in relation to an Amended Statement of Allegations, dated October 31, 2013, filed by Staff, which amended the title of this proceeding by replacing the name “Armadillo Energy LLC” with “Armadillo Energy, LLC (aka Armadillo Energy LLC)” (collectively, “Armadillo Oklahoma”, as defined above);
3. On January 6, 2015, the Commission approved a
settlement agreement, dated January 5, 2015, entered into by GWI, Deboer, Dunk and Webster;
4. On January 23, 2015, the Commission approved a
settlement agreement, dated January 22, 2015, entered into by Smith;
5. The hearing on the merits in this proceeding
against Armadillo Texas, Armadillo Nevada and Armadillo Oklahoma (collectively, the “Armadillo Respondents”) was heard in writing;
6. On August 24, 2015, the Commission issued its
Reasons and Decision on the merits in this matter, including findings against all of the Armadillo Respondents; and
7. The Commission is of the opinion that it is in the public interest to issue this Order.
IT IS HEREBY ORDERED that: 1. The Armadillo Respondents have until September
2, 2015 to notify the Secretary of the Commission that they, or any of them, require an oral sanctions hearing, which, if required, will then be scheduled by the Secretary;
2. Failing notification by the Armadillo Respondents,
Staff shall serve and file their written submissions on sanctions and costs by September 11, 2015;
3. The Armadillo Respondents shall serve and file
their written submissions on sanctions and costs by September 18, 2015; and
4. Staff shall serve and file reply submissions on
sanctions and costs, if any, by September 25, 2015.
DATED at Toronto this 24th day of August, 2015. “Christopher Portner”
Decisions, Orders and Rulings
August 27, 2015
(2015), 38 OSCB 7351
2.2.10 Paul Azeff et al. – ss. 127, 127.1
IN THE MATTER OF THE SECURITIES ACT,
R.S.O. 1990, c. S.5, AS AMENDED
AND
IN THE MATTER OF PAUL AZEFF, KORIN BOBROW, MITCHELL FINKELSTEIN, HOWARD JEFFREY MILLER AND
MAN KIN CHENG (a.k.a. FRANCIS CHENG)
ORDER (Sections 127 and 127.1)
WHEREAS: 1. on August 14, 2014, Staff of the Ontario Securities Commission (the “Commission”) filed a Fresh As Amended
Statement of Allegations with respect to the respondents Paul Azeff (“Azeff”), Korin Bobrow (“Bobrow”), Mitchell Finkelstein (“Finkelstein”), Howard Jeffrey Miller (“Miller”) and Man Kin Cheng (a.k.a. Francis Cheng) (“Cheng”) (collectively, the “Respondents”) relating to a hearing to held pursuant to sections 127 and 127.1 of the Securities Act, R.S.O. 1990, c. S.5, as amended (the “Securities Act”);
2. on March 24, 2015, following a hearing on the merits, the Commission issued its Reasons and Decision with respect to
the merits, including findings against all of the Respondents (Re Paul Azeff et al. (2015), 38 O.S.C.B. 2983); 3. on June 17, 2015, the Commission held a hearing to determine sanctions and costs against the Respondents; and 4. the Commission is of the opinion that it is in the public interest to make this order; IT IS ORDERED that: 1. With respect to Finkelstein:
(a) pursuant to clause 2 of subsection 127(1) of the Act, trading in any securities by Finkelstein shall cease for 10
years; (b) pursuant to clause 2.1 of subsection 127(1) of the Act, the acquisition of any securities by Finkelstein is
prohibited for 10 years; (c) as exceptions to the 10-year prohibitions in respect of trading and acquisition of securities ordered in
subparagraphs 1(a) and 1(b) above, Finkelstein shall be permitted to: i. personally trade and/or acquire mutual funds, exchange-traded funds (“ETFs”), government bonds
and/or guaranteed investment certificates (“GICs”) for the account of any registered retirement savings plan (“RRSP”), registered retirement income fund (“RRIF”), registered education savings plan (“RESP”) and tax free savings account (“TFSA”), as defined in the Income Tax Act, R.S.C. 1985, c.1, as amended (the “Income Tax Act”), in which Finkelstein and/or his children have sole legal and beneficial ownership, solely through a registered dealer in Ontario, to whom Finkelstein must have given a copy of the order; and
ii. to retain the services of one or more independent, arms-length dealer/portfolio manager(s) who are
registered in accordance with Ontario securities law, to trade and/or acquire securities in any RRSP, RRIF, RESP and TFSA, as defined in the Income Tax Act, on Finkelstein’s behalf, provided that:
1. the respective registered dealer/portfolio manager(s) is provided with a copy of this order
prior to trading or acquiring securities on Finkelstein’s behalf; 2. the respective registered dealer/portfolio manager(s) has sole discretion over what trades
and acquisitions may be made in the account and Finkelstein has no direction or control over the selection of specific securities;
Decisions, Orders and Rulings
August 27, 2015
(2015), 38 OSCB 7352
3. Finkelstein is permitted to have annual discussions with the respective registered dealer/portfolio manager(s) for the sole purpose of Finkelstein providing information regarding general investment objectives, suitability and risk tolerance or as required under Ontario securities law; and
4. Finkelstein may change registered dealer/portfolio manager(s), subject to the conditions set
out above, with notice to the Commission of any such change to be filed by Finkelstein within 30 days of making such change;
(d) pursuant to clause 3 of subsection 127(1) of the Act, any exemptions contained in Ontario securities law do
not apply to Finkelstein for 10 years; (e) pursuant to clause 6 of subsection 127(1) of the Act, Finkelstein is reprimanded; (f) pursuant to clauses 7, 8.1 and 8.3 of subsection 127(1) of the Act, Finkelstein shall resign from any position
he may hold as a director or an officer of any reporting issuer, registrant or investment fund manager and/or any issuer that is a registrant, or that directly or indirectly holds more than a five percent interest in a registrant;
(g) pursuant to clauses 8, 8.2 and 8.4 of subsection 127(1) of the Act, Finkelstein is permanently prohibited from
becoming or acting as a director or an officer of any reporting issuer, registrant or investment fund manager; (h) pursuant to clause 8.5 of subsection 127(1) of the Act, Finkelstein is prohibited for 10 years from becoming or
acting as a registrant, as an investment fund manager or as a promoter; (i) pursuant to clause 9 of subsection 127(1) of the Act, Finkelstein shall pay administrative penalties in the total
amount of $450,000 to the Commission, which shall be designated for allocation or use by the Commission in accordance with subsection 3.4(2)(b) of the Act and is payable, at his option, over three equal yearly instalments with the first $150,000 payable within 60 days of this decision. A failure to make a payment accelerates any remaining payments, such that the full amount becomes due and payable; and
(j) pursuant to section 127.1 of the Act, Finkelstein shall pay the amount of $125,000 in respect of part of the
costs of the Commission’s investigation and hearing; 2. With respect to Azeff and Bobrow:
(a) pursuant to clause 2 of subsection 127(1) of the Act, trading in any securities by each of Azeff and Bobrow
shall cease for 10 years; (b) pursuant to clause 2.1 of subsection 127(1) of the Act, the acquisition of any securities by each of Azeff and
Bobrow is prohibited for 10 years; (c) as exceptions to the 10-year prohibitions in respect of trading and acquisition of securities ordered in
subparagraphs 2(a) and 2(b) above, each of Azeff and Bobrow shall be permitted to: i. personally trade and/or acquire mutual funds, ETFs, government bonds and/or GICs for the account
of any RRSP, RRIF, RESP and TFSA, as defined in the Income Tax Act, in which by each of Azeff and Bobrow and/or their children have sole legal and beneficial ownership, solely through a registered dealer in Ontario, to whom each must have given a copy of the order;
ii. to retain the services of one or more independent, arms-length dealer/portfolio manager(s) who are
registered in accordance with Ontario securities law, to trade and/or acquire securities in any RRSP, RRIF, RESP and TFSA, as defined in the Income Tax Act, on behalf of each of Azeff and Bobrow’s, provided that:
1. the respective registered dealer/portfolio manager(s) is provided with a copy of this order
prior to trading or acquiring securities on each of Azeff and Bobrow’s behalf; 2. the respective registered dealer/portfolio manager(s) has sole discretion over what trades
and acquisitions may be made in the account and each of Azeff and Bobrow has no direction or control over the selection of specific securities;
Decisions, Orders and Rulings
August 27, 2015
(2015), 38 OSCB 7353
3. Azeff and Bobrow are each permitted to have annual discussions with the respective registered dealer/portfolio manager(s) for the sole purpose of providing information regarding general investment objectives, suitability and risk tolerance or as required under Ontario securities law; and
4. Azeff and Bobrow may each change registered dealer/portfolio manager(s), subject to the
conditions set out above, with notice to the Commission of any such change to be filed by each of Azeff and Bobrow within 30 days of making such change;
(d) pursuant to clause 3 of subsection 127(1) of the Act, any exemptions contained in Ontario securities law do
not apply to each of Azeff and Bobrow for 10 years; (e) pursuant to clause 6 of subsection 127(1) of the Act, each of Azeff and Bobrow is reprimanded; (f) pursuant to clauses 7, 8.1 and 8.3 of subsection 127(1) of the Act, each of Azeff and Bobrow shall resign from
any position he may hold as a director or an officer of any reporting issuer, registrant or investment fund manager and/or any issuer that is a registrant, or that directly or indirectly holds more than a five percent interest in a registrant;
(g) pursuant to clauses 8, 8.2 and 8.4 of subsection 127(1) of the Act, each of Azeff and Bobrow is permanently
prohibited from becoming or acting as a director or an officer of any reporting issuer, registrant or investment fund manager;
(h) pursuant to clause 8.5 of subsection 127(1) of the Act, each of Azeff and Bobrow is prohibited for 10 years
from becoming or acting as a registrant, as an investment fund manager or as a promoter; (i) pursuant to clause 9 of subsection 127(1) of the Act, Azeff shall pay $750,000 and Bobrow shall pay $300,000
to the Commission as administrative penalties, which shall be designated for allocation or use by the Commission in accordance with subsection 3.4(2)(b) of the Act and each amount is payable, at their option, over two equal yearly instalments with the first half payable within 60 days of this decision. A failure to make a payment accelerates any remaining payments, such that the full amount becomes due and payable;
(j) pursuant to clause 10 of subsection 127(1) of the Act, Azeff shall disgorge $49,996 and Bobrow shall disgorge
$10,217 to the Commission, which shall be designated for allocation or use by the Commission in accordance with subsection 3.4(2)(b) of the Act; and
(k) pursuant to section 127.1 of the Act, Azeff shall pay $175,000 and Bobrow shall pay $125,000 in respect of
part of the costs of the Commission’s investigation and hearing;
3. With respect to Miller and Cheng: (a) pursuant to clause 2 of subsection 127(1) of the Act, trading in any securities by each of Miller and Cheng
shall cease for 10 years; (b) pursuant to clause 2.1 of subsection 127(1) of the Act, the acquisition of any securities by each of Miller and
Cheng is prohibited for 10 years; (c) as exceptions to the 10-year prohibitions in respect of trading and acquisition of securities ordered in
subparagraphs 3(a) and 3(b) above, each of Miller and Cheng shall be permitted to:
i. personally trade and/or acquire mutual funds, ETFs, government bonds and/or GICs for the account of any RRSP, RRIF, RESP and TFSA, as defined in the Income Tax Act, in which by each of Miller and Cheng and/or their children have sole legal and beneficial ownership, solely through a registered dealer in Ontario, to whom each must have given a copy of the order;
ii. to retain the services of one or more independent, arms-length dealer/portfolio manager(s) who are
registered in accordance with Ontario securities law, to trade and/or acquire securities in any RRSP, RRIF, RESP and TFSA, as defined in the Income Tax Act, on behalf of each of Miller and Cheng, provided that:
1. the respective registered dealer/portfolio manager(s) is provided with a copy of this order
prior to trading or acquiring securities on each of Miller and Cheng’s behalf;
Decisions, Orders and Rulings
August 27, 2015
(2015), 38 OSCB 7354
2. the respective registered dealer/portfolio manager(s) has sole discretion over what trades and acquisitions may be made in the account and each of Miller and Cheng has no direction or control over the selection of specific securities;
3. Miller and Cheng are each permitted to have annual discussions with the respective
registered dealer/portfolio manager(s) for the sole purpose of providing information regarding general investment objectives, suitability and risk tolerance or as required under Ontario securities law; and
4. Miller and Cheng may each change registered dealer/portfolio manager(s), subject to the
conditions set out above, with notice to the Commission of any such change to be filed by each of Miller and Cheng within 30 days of making such change;
(d) pursuant to clause 3 of subsection 127(1) of the Act, any exemptions contained in Ontario securities law do
not apply to each of Miller and Cheng for 10 years; (e) pursuant to clause 6 of subsection 127(1) of the Act, each of Miller and Cheng is reprimanded; (f) pursuant to clauses 7, 8.1 and 8.3 of subsection 127(1) of the Act, each of Miller and Cheng shall resign from
any position he may hold as a director or an officer of any reporting issuer, registrant or investment fund manager and/or any issuer that is a registrant, or that directly or indirectly holds more than a five percent interest in a registrant;
(g) pursuant to clauses 8, 8.2 and 8.4 of subsection 127(1) of the Act, each of Miller and Cheng is prohibited for
10 years from becoming or acting as a director or an officer of any reporting issuer, registrant or investment fund manager;
(h) pursuant to clause 8.5 of subsection 127(1) of the Act, each of Miller and Cheng is prohibited for 10 years
from becoming or acting as a registrant, as an investment fund manager or as a promoter; (i) pursuant to clause 9 of subsection 127(1) of the Act, Miller shall pay $450,000 as administrative penalties,
which shall be designated for allocation or use by the Commission in accordance with subsection 3.4(2)(b) of the Act, and is payable over two equal yearly instalments with the first $225,000 payable, at his option, within 60 days of this decision and the balance within one year. A failure to make a payment accelerates any remaining payments, such that the full amount becomes due and payable;
(j) pursuant to clause 9 of subsection 127(1) of the Act, Cheng shall pay $200,000 to the Commission as
administrative penalties, which shall be designated for allocation or use by the Commission in accordance with subsection 3.4(2)(b) of the Act, and is payable over two equal yearly instalments with the first $100,000 payable, at his option, within 60 days of this decision and the balance within one year. A failure to make a payment accelerates any remaining payments, such that the full amount becomes due and payable;
(k) pursuant to clause 10 of subsection 127(1) of the Act, Miller shall disgorge $24,485 to the Commission, which
shall be designated for allocation or use by the Commission in accordance with subsection 3.4(2)(b) of the Act; and
(l) pursuant to section 127.1 of the Act, Miller shall pay $50,000 and Cheng shall pay $25,000 in respect of part
of the costs of the Commission’s investigation and hearing. Dated at Toronto this 24th day of August, 2015. “Alan J. Lenczner” “AnneMarie Ryan”
Decisions, Orders and Rulings
August 27, 2015
(2015), 38 OSCB 7355
2.2.11 1415409 Ontario Inc. et al. – ss. 127, 127.1
IN THE MATTER OF THE SECURITIES ACT,
R.S.O. 1990, c. S.5, AS AMENDED
AND
IN THE MATTER OF 1415409 ONTARIO INC., TITLE ONE CLOSING INC.,
RAVINDRA DAVE, CHANDRAMATTIE DAVE and AMETRA DAVE
ORDER
(Sections 127 and 127.1 of the Securities Act) WHEREAS: 1. On March 17, 2015, the Ontario Securities
Commission (the “Commission”) issued a Notice of Hearing pursuant to sections 127 and 127.1 of the Securities Act, R.S.O. 1990 c.S.5, as amended (the “Act”) in connection with a Statement of Allegations filed by Staff of the Commission (“Staff”) on March 17, 2015 with respect to Chandramattie Dave (“Chandramattie”), Ravindra Dave (“Ravindra”), Ametra Dave (“Ametra”), 1415409 Ontario Inc., and Title One Closing Inc. (collectively, the “Respondents”);
2. The Notice of Hearing set April 15, 2015, as the
hearing date in this matter; 3. The First Appearance in this matter was held on
April 15, 2015, and Staff and some of the Respondents appeared;
4. On April 15, 2015, the Commission ordered that:
a. Staff shall provide disclosure to the
Respondents by May 15, 2015, of documents and things in the possession or control of Staff that are relevant to the hearing in this matter;
b. The First Appearance in this matter be
continued on June 17, 2015, at 10:00 a.m. for the purpose of providing a status update with respect to service; and
c. The Second Appearance in this matter
be held on August 19, 2015, at 10:00 a.m.;
5. On May 30, 2015, Staff provided disclosure of
documents and things in the possession or control of Staff that are relevant to the hearing in this matter to Chandramattie, Ravindra, 1415409 Ontario Inc., and Title one Closing Inc.;
6. On June 12, 2015, Staff filed an application
seeking an order for substituted service with respect to Ametra;
7. The First Appearance in this matter was continued on June 17, 2015, at 3:30 p.m. and Staff and Ravindra and Chandramattie appeared and made submissions;
8. The First Appearance that continued on June 17,
2015, was further adjourned until July 16, 2015, at 1:00 p.m., at which time Staff and Ravindra and Chandramattie appeared and made submissions, including with respect to Staff’s application for substituted service;
9. On July 16, 2015, the Commission ordered that
service of the Notice of Hearing and Statement of Allegations is waived with respect to Ametra Dave, as Staff has taken all reasonable steps to locate and serve her;
10. The Second Appearance in this matter was held
on August 19, 2015 at 10 a.m., and Staff and some of the Respondents appeared; and
11. The Commission is of the opinion that it is in the
public interest to make this order; IT IS ORDERED that the hearing be continued on a further date and time as agreed to by the parties and set by the Office of the Secretary. DATED at Toronto, this 19th day of August, 2015. “Mary Condon”
Decisions, Orders and Rulings
August 27, 2015
(2015), 38 OSCB 7356
This page intentionally left blank
August 27, 2015
(2015), 38 OSCB 7357
Chapter 3
Reasons: Decisions, Orders and Rulings
3.1 OSC Decisions 3.1.1 Portfolio Capital Inc. et al. – ss. 127, 127.1
IN THE MATTER OF THE SECURITIES ACT,
R.S.O. 1990, c. S.5, AS AMENDED
AND
IN THE MATTER OF PORTFOLIO CAPITAL INC., DAVID ROGERSON,
and AMY HANNA-ROGERSON
REASONS AND DECISION ON SANCTIONS AND COSTS (Sections 127 and 127.1 of the Act)
Hearing: May 20, 2015
Decision: August 19, 2015
Panel: Christopher Portner – Commissioner
Appearances: Gavin Smyth Keir Wilmut
– For Staff of the Commission
Timothy D. Chapman-Smith – For David Rogerson
Doug McLeod – For Amy Hanna-Rogerson
TABLE OF CONTENTS
I. Background A. Introduction II. Sanctions Analysis
A. Sanctions Requested by Staff 1. Portfolio Capital 2. The Individual Respondents
B. Rogerson’s Submissions on Sanctions C. Hanna-Rogerson’s Submissions on Sanctions D. The Law E. Application of the Factors F. Previous Sanctions Decisions G. Analysis and Findings
1. Trading and Other Bans 2. Disgorgement 3. Administrative Penaltie
III. Costs IV. Conclusion
Reasons: Decisions, Orders and Rulings
August 27, 2015
(2015), 38 OSCB 7358
REASONS AND DECISION ON SACTIONS AND COSTS I. BACKGROUND A. Introduction [1] This was a hearing (the “Sanctions and Costs Hearing”) before the Ontario Securities Commission (the
“Commission”) pursuant to sections 127 and 127.1 of the Securities Act, R.S.O. 1990, c. S.5, as amended (the “Act”) to consider whether it is in the public interest to make an order with respect to sanctions and costs against Portfolio Capital Inc. (“Portfolio Capital”), David Rogerson (“Rogerson”) and Amy Hanna-Rogerson (“Hanna-Rogerson” and, collectively with Portfolio Capital and Rogerson, the “Respondents”).
[2] Staff of the Commission (“Staff”) had alleged that the Respondents solicited and sold shares of PlusPetro Inc.
(Panama) (“PlusPetro”) to more than 200 investors and potential investors, raising approximately US$980,000 and $544,000 and that the Respondents engaged in fraudulent conduct by making untrue or misleading statements to investors regarding the business of PlusPetro, the use of investor funds and the future value of PlusPetro shares.
[3] Following a hearing to consider the merits of Staff’s allegations (the “Merits Hearing”), I issued reasons and a decision
on the merits on February 26, 2015, Re Portfolio Capital Inc., (2015) 38 O.S.C.B. 2071 (the “Merits Decision”). In the Merits Decision, I found that: (a) The Respondents had engaged in unlawful trading contrary to subsection 25(1)(a) of the Act, as that section
existed prior to September 28, 2009, and contrary to subsection 25(1) of the Act, on or after September 28, 2009;
(b) The Respondents illegally distributed securities contrary to subsection 53(1) of the Act and breached sub-
section 126.1(b) of the Act by engaging in acts that they knew or reasonably ought to have known perpetrated a fraud;
(c) Rogerson made prohibited representations contrary to subsection 38(3) of the Act and Hanna-Rogerson, as
the director of Portfolio Capital, authorized, permitted, or acquiesced in Portfolio Capital’s non-compliance of Ontario securities law, and therefore contravened Ontario securities law pursuant to section 129.2 of the Act; and
(d) The Respondents’ actions were contrary to the public interest.
[4] Rogerson and Hanna-Rogerson (together, the “Individual Respondents”) were represented at the Sanctions and Costs Hearing by separate counsel under the Commission’s Litigation Assistance Program. Written and oral sub-missions with respect to sanctions and costs were made by Staff and counsel for each of Rogerson and Hanna-Rogerson.
[5] Although Portfolio Capital was properly served with notice of the Sanctions and Costs Hearing, it did not appear or
make submissions. Given that Portfolio Capital had received adequate notice, I determined that, pursuant to subsection 7(1) of the Statutory Powers Procedure Act, R.S.O. 1990, c. S.22 (the “SPPA”), it was appropriate that the Sanctions and Costs Hearing proceed in the absence of Portfolio Capital.
II. SANCTIONS ANALYSIS A. Sanctions Requested by Staff
1. Portfolio Capital [6] Staff submits that Portfolio Capital should be subject to the following sanctions, namely, that:
(a) Pursuant to clause 2 of subsection 127(1) of the Act, trading in any securities or derivatives by Portfolio
Capital shall cease permanently; (b) Pursuant to clause 2.1 of subsection 127(1) of the Act, the acquisition of any securities or derivatives by
Portfolio Capital shall be prohibited permanently; (c) Pursuant to clause 3 of subsection 127(1) of the Act, any exemptions contained in Ontario securities law shall
not apply to Portfolio Capital permanently;
Reasons: Decisions, Orders and Rulings
August 27, 2015
(2015), 38 OSCB 7359
(d) Pursuant to clause 10 of subsection 127(1) of the Act, Portfolio Capital shall jointly and severally with Rogerson and Hanna-Rogerson disgorge to the Commission a total of $2.6 million or, in the alternative $1.7 million, to be designated for allocation to or for the benefit of third parties in accordance with subsection 3.4(2)(b) of the Act; and
(e) Pursuant to section 127.1 of the Act, Portfolio Capital pay $309,812.56 of the costs of the investigation and
hearing, for which it shall be jointly and severally liable with Rogerson and Hanna-Rogerson. [7] Staff submits that the allegations proven against Portfolio Capital involve serious breaches of Ontario securities law
and conduct contrary to the public interest, and merit severe sanctions. These breaches included unlawful trading, the illegal distribution of securities and fraudulent conduct with respect to securities. Staff refers to my finding in the Merits Decision that “substantial amounts of the investor funds that were received by Portfolio Capital were not used for the purpose represented to investors”1 and further submits that Portfolio Capital undertook dishonest acts that could and did put investors’ financial interest at risk.
[8] Staff also submits that the conduct of Portfolio Capital caused significant harm to the integrity of the capital markets
and was designed to and did deprive investors of their funds and that Portfolio Capital should be permanently prevented from participating in the capital markets in any capacity.
2. The Individual Respondents
[9] Staff submits that the Individual Respondents should be subject to the following sanctions, namely, that:
(a) Pursuant to clause 2 of subsection 127(1) of the Act, trading in any securities or derivatives by the Individual
Respondents shall cease permanently; (b) Pursuant to clause 2.1 of subsection 127(1) of the Act, the acquisition of any securities or derivatives by the
Individual Respondents shall be prohibited permanently; (c) Pursuant to clause 3 of subsection 127(1) of the Act, any exemptions contained in Ontario securities law shall
not apply to the Individual Respondents permanently; (d) Pursuant to clauses 7, 8.1 and 8.3 of subsection 127(1) of the Act, the Individual Respondents shall resign
any position that they hold as a director or officer of an issuer, registrant or investment fund manager; (e) Pursuant to clauses 8, 8.2 and 8.4 of subsection 127(1) of the Act, the Individual Respondents shall be
prohibited permanently from becoming or acting as a director or officer of any issuer, registrant or investment fund manager;
(f) Pursuant to clause 8.5 of subsection 127(1) of the Act, the Individual Respondents shall be prohibited
permanently from becoming or acting as a registrant, as an investment fund manager, or as a promoter; (g) Pursuant to clause 10 of subsection 127(1) of the Act, the Individual Respondents shall jointly and severally
with Portfolio Capital disgorge to the Commission a total of $2.6 million or, in the alternative $1.7 million, to be designated for allocation to or for the benefit of third parties in accordance with subsection 3.4(2)(b) of the Act;
(h) Pursuant to clause 9 of subsection 127(1) of the Act, Rogerson shall pay an administrative penalty of
$500,000, to be allocated for use by the Commission in accordance with subsection 3.4(2)(b) of the Act; (i) Pursuant to subsections 127.1(1) and (2) of the Act, Rogerson pay $309,812.56 of the costs of the
investigation and hearing, for which he shall be jointly and severally liable with Portfolio Capital and Hanna-Rogerson;
(j) Pursuant to clause 9 of subsection 127(1) of the Act, Hanna-Rogerson shall pay an administrative penalty of
$150,000, to be allocated for use by the Commission in accordance with subsection 3.4(2)(b) of the Act; and (k) Pursuant to subsections 127.1(1) and (2) of the Act, Hanna-Rogerson shall pay $309,812.56 of the costs of
the investigation and hearing, for which she shall be jointly and severally liable with Portfolio Capital and Rogerson.
1 Merits Decision, supra at para. 123.
Reasons: Decisions, Orders and Rulings
August 27, 2015
(2015), 38 OSCB 7360
[10] Staff submits that Rogerson and Hanna-Rogerson engaged in egregious conduct involving significant contraventions of the Act, including fraud, resulting in significant harm to investors. It is Staff’s submission that the Individual Respondents’ actions warrant significant sanctions commensurate with their harmful conduct in order to protect investors from future harm and to send a message of deterrence.
[11] Staff submits that the Individual Respondents engaged in unlawful activity that was planned, prolonged and
widespread. Staff notes that the Commission has previously held that the registration requirements of the Act are essential to the protection of investors and that fraud is “one of the most egregious securities regulatory violations.”2
[12] Staff submits that the Individual Respondents have not recognized the seriousness of their misconduct. As evidence of
this lack of recognition, Staff refers to the Commission’s finding that Rogerson’s testimony at the Merits Hearing was “argumentative and evasive and simply not credible.”3
[13] Staff submits that, although I determined in the Merits Decision that the Respondents raised $1.7 from investors,
Rogerson agreed under cross-examination to having raised $2.6 million from investors. Only one investor out of 200 was reimbursed for the amount of his investment.
[14] Staff submits that the Respondents’ non-compliance with Ontario securities law was not an isolated incident and took
place over an extended period of time. It is Staff’s position that there are no mitigating factors present and that neither of the Individual Respondents has expressed genuine remorse for their actions.
[15] Staff submits that orders removing the Individual Respondents permanently from the capital markets, significant
administrative penalties and the disgorgement of all funds derived from the sale of PlusPetro shares, are proportionate to the Individual Respondents’ misconduct and will convey to the Individual Respondents and to like-minded individuals that involvement in these types of fraudulent schemes will result in severe sanctions.
B. Rogerson’s Submissions on Sanctions [16] Rogerson submits that he acted reasonably and cooperated with Staff throughout the hearing process. He signed an
Agreed Statement of Facts, which was filed by Staff on the first day of the Merits Hearing, and only contested the fraud allegations at the Merits Hearing which resulted in a streamlined and efficient hearing.
[17] Rogerson submits that this proceeding has ruined him financially, destroyed his reputation and strained or ended
personal relationships. He submits that he accepts the findings of the Commission in the Merits Decision and does not contest the non-monetary sanctions sought by Staff, except that he seeks a carve-out from the trading ban for personal trading. He further submits that he is remorseful for the harm that he caused to investors.
[18] Rogerson does, however, contest the monetary sanctions sought by Staff. It is his submission that the monetary
sanctions sought by Staff are inappropriate in the circumstances. He submits that monetary sanctions serve the primary purpose of deterrence, and that there is no deterrent value when the monetary sanctions are so large that the respondent cannot pay them. He submits that, as he is currently indigent, the large monetary sanctions sought by Staff have no deterrent value and therefore impermissibly rise to the level of punishment.
[19] Rogerson submits that Staff’s position on sanctions disregards his personal circumstances and ability to pay. He
submits that his consent to permanent removal from the markets achieves the Commission’s goal of protecting the market and that his consent to these sanctions should be seen as a mitigating factor.
C. Hanna-Rogerson’s Submissions on Sanctions [20] Hanna-Rogerson submits that she attempted to cooperate and provide forthright admissions to Staff throughout these
proceedings while having no legal experience and being largely self-represented. [21] She submits that, throughout the Material Time, she was vulnerable to and controlled by Rogerson in connection with
the development of COATS4 and that Rogerson caused her to exhaust all of her personal savings and even go into debt to help fund his investment scheme. It is her submission that she thought that the COATS scheme undertaken by Rogerson through PlusPetro was a legitimate business and that her involvement has left her destitute, deeply indebted and estranged from her family and friends.
2 Re Al-Tar Energy Corp. (2011), 33 O.S.C.B. 5535 at para. 214. 3 Merits Decision, supra at para 116. 4 COATS is the acronym for Crude Oil Additive Technology Solution which is described in paragraph [22] of the Merits Decision as a break-
through technology that has the ability to lower the viscosity of crude oil thereby making it easier to transport.
Reasons: Decisions, Orders and Rulings
August 27, 2015
(2015), 38 OSCB 7361
[22] As Hanna-Rogerson thought PlusPetro was a legitimate venture, she submits that she did not understand that it was inappropriate for her to be compensated out of the funds raised from investors. It is her submission that the monthly income that she received from PlusPetro was comparable to her previous earnings as a wardrobe stylist, and it therefore did not occur to her that the compensation was improper. Hanna-Rogerson submits that, to her knowledge, much of the funds raised from investors was spent by Rogerson on legitimate business expenses.
[23] Hanna-Rogerson argues that Staff has not done enough in its detailing of the Individual Respondents’ expenditures to
separate the amounts spent by Hanna-Rogerson and Rogerson, respectively. In her submission, the broad categories of expenditure used by Staff fail to separate the spending of Rogerson and other PlusPetro representatives from that of Hanna-Rogerson. She submits that, by failing to provide sufficient particulars in order to allow the Panel to ascertain the alleged gain by Hanna-Rogerson, Staff has not met its burden of proof with respect to its request that Hanna-Rogerson be subject to an order of disgorgement.
[24] Hanna-Rogerson submits that she is unsophisticated with regard to financial and business matters and the securities
laws of Ontario and at no time intentionally violated them. She submits that, upon learning that she was in violation of regulatory requirements, she cooperated with the Commission and admitted to her contraventions. The only allegation that she was not willing to admit to was fraud.
[25] Hanna-Rogerson submits that she was not an active participant in the fraudulent scheme and only participated on an
administrative basis and that her admission that she met with investors should be viewed in this light. She submits that the appropriate sanctions regarding her actions should reflect the fact that she was not actively soliciting or recruiting new investors. She submits that this is further reflected by the Particulars of Staff’s Allegations of Securities Fraud provided to Hanna-Rogerson on January 29, 2014, as it makes only minimal references to her in contrast to Rogerson. She argues that this conflation of Rogerson’s actions with her own is pervasive throughout Staff’s submissions.
[26] In her submission, Hanna-Rogerson states that she is currently impecunious and is considering filing for bankruptcy.
She submits that she deeply regrets her involvement in the fraud and would like to be able to repay investors and those who lent her money, however, that is not possible given her financial circumstances.
[27] Hanna-Rogerson does not contest the non-monetary sanctions sought against her, save for a request that she be
personally allowed to own securities so that she may one day be able to save for retirement. [28] Hanna-Rogerson, however, argues that the monetary sanctions sought by Staff against her are punitive in nature and
therefore improper. She cites the Alberta Court of Appeal’s recent decision in Walton v. Alberta (Securities Commission), 2014 A.B.C.A. 273 (“Walton”), in which the Court stated that “the pursuit of general deterrence does not warrant imposing a crushing or unfit sanction on any individual appellant.”5 Hanna-Roberson argues that the large monetary sanctions sought against her have no deterrent effect and are Staff’s attempt to punish her for her actions.
D. The Law [29] When exercising its public interest jurisdiction under section 127 of the Act, the Commission must consider the
purposes of the Act which, as set out in section 1.1 of the Act, are to (i) provide protection to investors from unfair, improper or fraudulent practices; and (ii) foster fair and efficient capital markets and confidence in the capital markets.
[30] In pursuing the purposes of the Act, subsection 2.1(2) of the Act requires that the Commission have regard for a
number of fundamental principles including the following primary means for achieving the purposes of the Act: i. requirements for timely, accurate and efficient disclosure of information, ii. restrictions on fraudulent and unfair market practices and procedures, and iii. requirements for the maintenance of high standards of fitness and business conduct to ensure honest and
responsible conduct by market participants.
[31] The sanctions imposed by the Commission must be protective and preventive to maintain high standards of behavior and to preserve the integrity of Ontario’s capital markets. The role of the Commission is to impose sanctions that will protect investors and the capital markets from exposure to similar conduct in the future. As stated by the Commission in Re Mithras Management Inc., 1990), 13 O.S.C.B. 1600 (“Mithras”):
… the role of this Commission is to protect the public interest by removing from the capital markets – wholly or partially, permanently or temporarily, as the circumstances may warrant – those whose
5 Walton, supra at para. 154.
Reasons: Decisions, Orders and Rulings
August 27, 2015
(2015), 38 OSCB 7362
conduct in the past leads us to conclude that their conduct in the future may well be detrimental to the integrity of those capital markets. We are not here to punish past conduct; that is the role of the courts, particularly under section 118 [now 122] of the Act. We are here to restrain, as best we can, future conduct that is likely to be prejudicial to the public interest in having capital markets that are both fair and efficient. In so doing we must, of necessity, look to past conduct as a guide to what we believe a person’s future conduct might reasonably be expected to be; we are not prescient, after all.6 [Emphasis added.]
[32] As stated by the Supreme Court of Canada in Committee for Equal Treatment of Asbestos Minority Shareholders v.
Ontario Securities Commission, [2001] 2 S.C.R. 132 (“Asbestos”), the Commission’s public interest mandate is neither remedial nor punitive; instead, it is protective and preventive, and it is intended to prevent future harm to Ontario’s capital markets.7 More specifically, the Court stated that “[T]he role of the OSC under s. 127 is to protect the public interest by removing from the capital markets those whose past conduct is so abusive as to warrant apprehension of future conduct detrimental to the integrity of the capital markets.”8
[33] Sanctions imposed must be appropriate and proportionate to the circumstances of the case and the conduct of each
respondent. The Commission has enumerated a number of factors that it considers in determining sanctions including, the seriousness of the allegations, the respondent’s experience in the marketplace, recognition of the seriousness of the improprieties, deterrence and whether there are any mitigating factors present in the case.9 In exercising its discretion, the Commission should consider the protection of investors and the efficiency of, and public confidence in, capital markets generally.
E. Application of the Factors [34] Having regard to the factors referred to in paragraph [33] above, I consider the following to be of particular relevance to
the Respondents:
1. The seriousness of the conduct [35] The Respondents were found to have engaged in acts that they knew or reasonably ought to have known perpetrated
a fraud. Their actions show complete disregard for the regulatory foundations of Ontario’s capital markets and the protection of investors. The Respondents inflicted harm on investors in Ontario by means of a prolonged scheme through which approximately 200 investors were defrauded of at least $1.7 million. To date, only one investor has been repaid and, based on the facts in evidence at the Merits Hearing, there is no prospect of any recovery by the remaining investors.
2. The Respondents’ experience and knowledge
[36] Although none of the Respondents was ever registered in any capacity under the Act, Rogerson, by his own
submission, has been involved in the financial and capital markets for over 25 years. Rogerson devised and executed the COATS scheme which involved hundreds of investors and large amounts of investor funds. The evidence, including, in particular, the elaborate web of deceit created by Rogerson’s purported update letters to shareholders, demonstrated that Rogerson had a high level of sophistication relating to the manner in which securities are successfully marketed.
[37] By way of contrast, Hanna-Rogerson submits that she has little to no experience in the securities or oil and gas
industries and that her role with Portfolio Capital was administrative in nature. While I accept that she may not have been as sophisticated as Rogerson with respect to securities matters, she was involved with Portfolio Capital for an extended period of time, was actively involved with investors in the completion of the documents associated with the purchase of PlusPetro shares and had control over the bank accounts to which investor funds were deposited. As I found in the Merits Decision, her claims of ignorance regarding the misleading nature of the PlusPetro investments were “not credible”.10
3. Recognition of the seriousness of the improprieties and remorse
[38] Rogerson submits that he is remorseful for the harm that he has caused the approximately 200 investors he defrauded.
While Rogerson’s counsel was correct in submitting that his client was entitled to defend himself at the Merits Hearing,
6 Mithras, supra at paras. 1610 and 1611. 7 Asbestos, supra at para. 42. 8 Asbestos, supra at para. 43. 9 For a non-exhaustive list of sanctioning factors that the Commission may consider, see Re Belteco Holdings Inc. (1998), 21 O.S.C.B. 7743
at 7746; Re M.C.J.C. Holdings Inc. (2002), 25 O.S.C.B. 1133 at 1136. 10 Merits Decision, supra at para. 96.
Reasons: Decisions, Orders and Rulings
August 27, 2015
(2015), 38 OSCB 7363
I am not convinced that Rogerson has any remorse for the fraud in which he engaged. His testimony at the Merits Hearing demonstrated him to be a person who is deceitful and manipulative. While my findings in the Merits Decision were based on the $1.7 million alleged by Staff to have been received from investors, Rogerson’s own testimony confirmed that he received another $900,000 from investors relating to the sale of PlusPetro shares, however, he refused to answer any of Staff’s further questions with respect to this amount. Rogerson now submits that he is impecunious as a result of these proceedings without providing a plausible explanation with respect to the large sum of money that he admits to having received.
[39] Although Hanna-Rogerson also claims to be remorseful for the harm that her role in the fraud caused, she remains
steadfast in her refusal to accept the finding that she engaged in fraud. In her submissions on sanctions and costs, she continues to argue that she did not have the sophistication necessary to understand the fraudulent nature of the COATS scheme and “disagrees that she engaged in fraud”. The Sanctions and Costs Hearing is not, however, the forum to re-litigate the Panel’s finding on the merits. While I believe that Hanna-Rogerson regrets her involvement in the COATS scheme, her refusal to recognize that there was any culpability on her part with respect to the commission of the fraud is a matter of concern when considering sanctions.
4. Mitigating Factors
[40] Although the Individual Respondents did work with Staff to create the Agreed Statement of Facts which resulted in
some efficiency during the Merits Hearing, they otherwise caused innumerable delays and additional costs and inconvenience by failing to comply with the orders of the Panel and the Commission’s Rules of Procedure (2012), 35 O.S.C.B. 10071 (the “Rules of Procedure”). In addition, Rogerson’s testimony was argumentative and evasive thereby unnecessarily prolonging the Merits Hearing. As a result, there are no mitigating factors in evidence.
5. Deterrence
[41] Specific and general deterrence are important considerations that should be taken into account when sanctions are
imposed. General deterrence requires the imposition of sanctions that will send a strong message to other like-minded individuals (in this case, officers and directors) that the misconduct engaged in is unacceptable and will not be tolerated by the Commission. Specific deterrence requires the imposition of sanctions that will send a strong message to respondents to discourage them from engaging in further misconduct in the future.
[42] In Re Cartaway Resources Corp., [2004] 1 S.C.R. 672 (“Cartaway”), the Supreme Court of Canada explained that
deterrence is “… an appropriate, and perhaps necessary, consideration in making orders that are both protective and preventive” (at para. 60). The Supreme Court also emphasized that deterrence may be specific to the respondent or general so as to deter the public at large:
Deterrent penalties work on two levels. They may target society generally, including potential wrongdoers, in an effort to demonstrate the negative consequences of wrongdoing. They may also target the individual wrongdoer in an attempt to show the unprofitability of repeated wrongdoing. The first is general deterrence; the second is specific or individual deterrence: see C. C. Ruby, Sentencing (5th ed. 1999). In both cases deterrence is prospective in orientation and aims at preventing future conduct. (Cartaway, supra at para. 52)
F. Previous Sanctions Decisions [43] Staff refers to a number of previous Commission decisions that Staff submits provide guidance as to the appropriate
sanctions in this matter. Staff further submits that the previous decisions of the Commission support its submission that the Individual Respondents’ misconduct warrants severe sanctions.
[44] In Re Lyndz Pharmaceuticals Inc. (2012), 35 O.S.C.B. 7357 (“Lyndz”), the Commission found that the respondents
engaged in an illegal distribution and fraud, raising approximately $1.7 million from more than 70 investors. The respondents used the investor funds for personal purposes and were found to have engaged in fraud contrary to section 126.1(b) of the Act.
[45] The individual respondents in Lyndz were ordered to pay administrative penalties of $600,000 and $500,000 and
disgorge the total amount raised from investors. Although the respondents sought a personal trading carve-out, the Commission did not agree that they could be safely trusted to participate in the capital markets and ordered that they be permanently banned from the capital markets.
Reasons: Decisions, Orders and Rulings
August 27, 2015
(2015), 38 OSCB 7364
[46] In Re Moncasa Capital Corp. (2014), 37 O.S.C.B. 229 (“Moncasa”), the Commission found that the respondent illegally traded and distributed securities and engaged in fraud in breach of section 126.1(b) of the Act and acted contrary to the public interest. The Commission ordered that the respondents, having been found to have raised approximately $1.2 million from 57 investors, be banned from the market, disgorge the amount illegally raised and pay an administrative penalty of $400,000 on a joint and several basis.
[47] Both Rogerson and Hanna-Rogerson rely on Walton in their respective submissions that monetary sanctions are not
appropriate in either of their cases. In Walton, the Alberta Court of Appeal held that “a monetary penalty that is beyond the capacity of the individual offender cannot be justified on the basis that it will deter others who are in a better financial condition.”11
[48] However, the Court in Walton also recognized that “if the maximum financial consequence of [a breach of the Act] was
a disgorgement of the profits realized, there would be no true deterrent”.12 The Court did not indicate what appropriate financial sanctions were in that case. Rather, it found that it was not able to undertake a reasonable review of the sanctions ordered by the Alberta Securities Commission as its decision lacked the requirements of justification, transparency and intelligibility. As a result, the Court directed the Alberta Securities Commission to reconsider the issue of sanctions.
G. Analysis and Findings
1. Trading and Other Bans [49] Both of the Individual Respondents agreed that their actions warranted the non-monetary sanctions sought against
them by Staff, except that both of them requested that they be granted an exemption for personal trading, i.e., a carve-out from the general trading ban sought by Staff.
[50] Both of the Individual Respondents submit that, although they are currently impecunious, they hope to rebuild their
lives and be able to save for their retirement. [51] As a permanent trading ban is among the most severe sanctions that the Commission may impose on a respondent, it
is necessary to ensure that the sanctions imposed on each respondent remain “preventative in nature and prospective in orientation”13 and do not rise to a level at which they are punitive. In Erikson v. Ontario (Securities Commission), (2003), 120 A.C.W.S. (3d) (“Erikson”), the Divisional Court stated that “participation in the capital markets is a privilege and not a right.”14 The Commission has held that it can only “look to past conduct as a guide to what we believe a person’s future conduct might reasonably be expected to be”.15
[52] As discussed above, I am not satisfied that the Individual Respondents demonstrate any meaningful insight with
respect to the harm that they have caused to investors and, as they continue in my view to represent a risk to Ontario’s capital markets, they should not be entitled to trade in securities. I am, however, persuaded that, if the Individual Respondents pay in full the disgorgement, administrative penalty and cost amounts described below, they should be permitted to trade in registered accounts for personal savings.
[53] Based on the foregoing, I find that the Respondents should be banned from trading until such time as they have paid in
full the disgorgement, administrative penalty and cost amounts described below. [54] The Individual Respondents agreed that the market bans sought by Staff which would prohibit them from becoming or
holding positions as officers and directors, promoters, registrants and investment fund managers are warranted given their conduct. In the circumstance, I find that the public interest requires that the Individual Respondents be permanently barred from holding such positions in the future.
2. Disgorgement
[55] Staff seeks the disgorgement of $2.6 million, or, in the alternative, $1.7 million, from the Respondents notwithstanding
the fact that I found in the Merits Decision that the Respondents raised $1.7 million from investors.
11 Walton, supra at para. 165. 12 Walton, supra at para. 156. 13 Asbestos, supra at para. 45. 14 Erikson, supra at para. 55. 15 Mithras, supra at 1610 and 1611.
Reasons: Decisions, Orders and Rulings
August 27, 2015
(2015), 38 OSCB 7365
[56] In Re Limelight Entertainment Inc. et al. (2008), 31 O.S.C.B. 12030 (“Limelight”), the Commission held that, as paragraph 10 of subsection 127(1) of the Act refers to “any amounts obtained”, “all money illegally obtained from investors can be ordered to be disgorged, not just the profit made as a result of the activity.”16
[57] The Limelight case sets out a non-exhaustive list of factors to consider when contemplating a disgorgement order,
which include:
(a) Whether an amount was obtained by a respondent as a result of non-compliance with the Act; (b) The seriousness of the misconduct and the breaches of the Act and whether investors were seriously harmed; (c) Whether the amount that a respondent obtained as a result of non-compliance with the Act is reasonably
ascertainable; (d) Whether the individuals who suffered losses are likely to be able to obtain redress; and (e) The deterrent effect of a disgorgement order on the respondents and other market participants.
[58] Limelight goes on to state that, once Staff has proven on a balance of probabilities the amount illegally obtained by a respondent, the risk of uncertainty in calculating disgorgement should fall on the wrongdoer whose non-compliance with the Act gave rise to the uncertainty.17
[59] Hanna-Rogerson submits that a disgorgement order against her is inappropriate because Staff has been unable to
detail the amount of investor funds that she expended. As stated in Limelight, any uncertainty in calculating the disgorgement falls on the respondent once Staff has proven on a balance of probabilities that the respondent received the funds in question.
[60] Applying the factors described above and having regard to the following:
(a) All of the investor funds were raised as a result of the Respondents’ illegal distribution of securities and fraudulent conduct;
(b) The Respondents’ conduct was egregious and harmed investors; (c) The Respondents received $1.7 million from investors; (d) All but one of the investors will be unable to recover the amounts that they have invested; and (e) A disgorgement order for the entire amount raised by the Respondents would have a significant specific and
general deterrent effect; I find that it is appropriate to order that the Respondents disgorge $1.7 million on a joint and several basis.
3. Administrative Penalties [61] Staff seeks an administrative penalty against Rogerson in the amount of $500,000. Rogerson submits that the amount
is exorbitant given that he has “met financial ruin as a result of these proceedings.”18 [62] The Act permits the Commission to order up to $1.0 million for each breach of the Act to serve as specific and general
deterrence to respondents and like-minded individuals from conducting themselves in a manner that is contrary to the Act. However, in each specific instance in which the Commission considers an administrative penalty to be warranted, the amount ordered cannot be so excessive that it is punitive.
[63] Rogerson was found to have breached four separate provisions of the Act and to have acted contrary to the public
interest over a period of five years. He defrauded approximately 200 investors of at least $1.7 million and, in doing so, demonstrated indifference amounting to contempt for Ontario’s securities laws. The administrative penalty that Staff seeks is reasonable and consistent with previous cases involving similarly sized frauds.19 Accordingly, I find that Rogerson should be required to pay an administrative penalty of $500,000, an amount that is both proportionate and reasonable in the circumstances.
16 Limelight, supra at para 49. 17 Limelight, supra at para. 53. 18 Rogerson’s Written Submissions on Sanctions and Costs at para. 19. 19 Re Rezwealth Financial Services Inc. (2014), 37 O.S.C.B. 6731; Lyndz, supra.
Reasons: Decisions, Orders and Rulings
August 27, 2015
(2015), 38 OSCB 7366
[64] Staff also seeks an administrative penalty against Hanna-Rogerson in the amount of $150,000. Staff submits that it is seeking a lower administrative penalty against Hanna-Rogerson as she played a lesser role in the fraud than Rogerson. Staff, however, argues that Hanna-Rogerson still played an essential role and was aware of the flow of investor funds through Portfolio Capital.
[65] Hanna-Rogerson submits that the administrative penalty sought by Staff against her is inappropriate as a large
monetary sanction against her is punitive in the circumstances. Hanna-Rogerson submits that she plans to file for bankruptcy and that her inability to pay the sanction should be taken into consideration in the determination of the quantum of the administrative penalty.
[66] I found in the Merits Decision that Hanna-Rogerson “knew, and at the very least, ought to have known, that her actions
with respect to the management and use of investor funds resulted in deprivation to investors.”20 I also found that “…the evidence overwhelmingly demonstrates that the Respondents treated investor funds as their own and used the majority of the funds received from PlusPetro’s investors to pay their personal expenses.”21
[67] In the circumstances, it is entirely appropriate that an administrative penalty be imposed on Hanna-Rogerson as a
signal to her and to like-minded individuals that the Commission views fraudulent activity as one of the most serious breaches of the Act which will result in serious consequences.
[68] Based on the foregoing, I find that Hanna-Rogerson should pay an administrative penalty of $150,000. III. COSTS [69] Staff requests that the Respondents pay $309,812.56, on a joint and several basis, towards the costs of the hearing
and the investigation. Staff filed a Bill of Costs that attests the total cost of the investigation and hearing to be over $700,000, and submits that the costs award sought represents an almost 60 percent discount from that total.
[70] Rogerson submits that it would be unjust to award costs in this case. Rogerson submits that section 17.1 of the SPPA
provides that a tribunal shall not make an order to pay costs unless a party’s conduct has been unreasonable or in bad faith and that the Commission has made no such finding against him. He further submits that he contributed to an efficient process by agreeing to a wide array of facts in the Agreed Statement of Facts.
[71] Hanna-Rogerson submits that it would be contrary to the principles of natural justice to award costs against her in this
matter. She argues that the large costs award sought by Staff against her is yet another example of Staff conflating her actions with those of Rogerson. Like Rogerson, she submits that Staff has not made out the requirements of section 17.1 of the SPPA against her. She argues that the majority of the evidence led against her by Staff at the Merits Hearing was directed at establishing facts already admitted by her.
[72] Section 127.1 of the Act gives the Commission the power to order a respondent to pay the costs of an investigation and
hearing if it is satisfied that the person has breached the Act or has acted contrary to the public interest. A costs order is not a sanction but rather a means by which the Commission can recoup costs expended during the hearing and investigation stages of a matter.
[73] In Re Ochnik (2006), 29 O.S.C.B. 5917 (“Ochnik”), the Commission lists the following criteria that have been
considered in awarding costs:22
(a) Failure by staff to provide early notice of an intention to seek costs may result in a reduced costs award, as early notice may have facilitated early settlement, thereby reducing overall costs;23
(b) The seriousness of the charges and the conduct of the parties;24 (c) Abuse of process by a respondent may be a factor in increasing the amount of costs;25 (d) The greater investigative/hearing costs that the specific conduct of a respondent required in the case;26 and (e) The reasonableness of the costs requested by staff.27
20 Merits Decision, supra at para. 127. 21 Merits Decision, supra at para 109. 22 Ochnik, supra at para. 29. 23 See Re Tindall (2000), 23 O.S.C.B. 6889 at para. 74. 24 See Re YBM Magnex International Inc. (2003), 26 O.S.C.B. 5285 at para. 608. 25 See Re YBM Magnex International Inc., ibid at para. 606. 26 See Re YBM Magnex International Inc., ibid at para. 606.
Reasons: Decisions, Orders and Rulings
August 27, 2015
(2015), 38 OSCB 7367
[74] The Rules of Procedure set out the following factors to be considered with respect to costs:
18.2 Factors Considered When Awarding Costs – In exercising its discretion under section 127.1 of the Act to award costs against a person or company, a Panel may consider the following factors: (a) whether the respondent failed to comply with a procedural order or direction of the Panel; (b) the complexity of the proceeding; (c) the importance of the issues; (d) the conduct of Staff during the investigation and during the proceeding and how Staff’s conduct
contributed to the costs of the investigation and the proceeding; (e) whether the respondent contributed to a shorter, more efficient, and more effective hearing, or
whether the conduct of the respondent unnecessarily lengthened the duration of the proceeding; (f) whether any step in the proceeding was taken in an improper, vexatious, unreasonable, or negligent
fashion or in error; (g) whether the respondent participated in the proceeding in a way that helped the Commission
understand the issues before it; (h) whether the respondent participated in a responsible, informed and well-prepared manner; (i) whether the respondent co-operated with Staff and disclosed all relevant information; (j) whether the respondent denied or refused to admit anything that should have been admitted; or (k) any other factors the Panel considers relevant.
[75] The allegations against the Respondents, which Staff has successfully proved, represented serious breaches of the Act stemming from a complex set of facts that required a number of hearing days. The Respondents choose not to participate in or attend the Merits Hearing, however, following its conclusion, the Individual Respondents brought a motion to re-open the Merits Hearing so that they could introduce evidence. This required a significant duplication of effort on Staff’s behalf and extra hearing days.
[76] In addition to the foregoing, and as noted in paragraph [40] above, the Individual Respondents caused innumerable
delays by failing to comply with the orders of the Panel and the Rules of Procedure thereby causing Staff and the Commission to incur additional and unnecessary costs and manage the serious inconvenience caused by their behavior. Rogerson, in particular, obfuscated or failed to disclose all of the facts relating to the purported development of the COATS technology, the amounts received from investors and his and Hanna-Rogerson’s use of such amounts.
[77] On the basis of the foregoing, I find that the costs sought by Staff are reasonable in the circumstances. [78] Given her lesser role in this matter, Hanna-Rogerson shall pay investigation and hearing costs of $150,000 which shall
be payable on a joint and several basis with Rogerson and Portfolio Capital. [79] Rogerson shall pay investigation and hearing costs of $309,812.56, $150,000 of which shall be payable on a joint and
several basis with the Hanna-Rogerson and Portfolio Capital and the remaining $159,812.56 of which shall be payable on a joint and several basis with Portfolio Capital.
[80] Portfolio Capital shall pay investigation and hearing costs of $309,812.56, $150,000 of which shall be payable on a joint
and several basis with the Hanna-Rogerson and Rogerson and the remaining $159,812.56 of which shall be payable on a joint and several basis with Rogerson.
IV. CONCLUSION [81] I will issue an order giving effect to my findings on sanctions and costs as follows:
27 See Re Lydia Diamond Exploration of Canada (2003), 26 O.S.C.B. 2511 at para. 217.
Reasons: Decisions, Orders and Rulings
August 27, 2015
(2015), 38 OSCB 7368
(a) With respect to the Individual Respondents: (i) pursuant to clause 2 of subsection 127(1) of the Act, trading in any securities or derivatives by the
Individual Respondents shall cease permanently; (ii) pursuant to clause 2.1 of subsection 127(1) of the Act, the acquisition of any securities or derivatives
by the Individual Respondents is prohibited permanently; (iii) pursuant to clause 3 of subsection 127(1) of the Act, any exemptions contained in Ontario securities
law do not apply to the Individual Respondents permanently; (iv) pursuant to clauses 7, 8.1 and 8.3 of subsection 127(1) of the Act, the Individual Respondents shall
resign any position that they hold as a director or officer of an issuer, registrant, or investment fund manager;
(v) pursuant to clauses 8, 8.2 and 8.4 of subsection 127(1) of the Act, the Individual Respondents shall
be prohibited permanently from becoming or acting as a director or officer of any issuer, registrant, or investment fund manager; and
(vi) pursuant to clause 8.5 of subsection 127(1) of the Act, the Individual Respondents shall be prohibited
permanently from becoming or acting as a registrant, as an investment fund manager, or as a promoter;
(b) With respect to the Respondents, pursuant to clause 10 of subsection 127(1) of the Act, the Respondents
shall jointly and severally disgorge to the Commission $1.7 million, which amount shall be designated for allocation or for use by the Commission in accordance with paragraphs (b)(i) or (ii) of subsection 3.4(2) of the Act;
(c) With respect to Rogerson:
(i) pursuant to clause 9 of subsection 127(1) of the Act, Rogerson shall pay an administrative penalty of $500,000 for his multiple failures to comply with Ontario securities law, which amount shall be desig-nated for allocation or use by the Commission in accordance with paragraphs (b)(i) or (ii) of sub-section 3.4(2) of the Act; and
(ii) pursuant to subsections 127.1(1) and (2) of the Act, Rogerson shall pay investigation and hearing
costs of $309,812.56, of which $150,000 shall be payable on a joint and several basis with Hanna-Rogerson and Portfolio Capital, and the remaining $159,812.56 of which shall be payable on a joint and several basis with Portfolio Capital;
(d) With respect to Hanna-Rogerson:
(i) pursuant to clause 9 of subsection 127(1) of the Act, Hanna-Rogerson shall pay an administrative penalty of $150,000 for her multiple failures to comply with Ontario securities law, which amount shall be designated for allocation or use by the Commission in accordance with paragraphs (b)(i) or (ii) of subsection 3.4(2) of the Act; and
(ii) pursuant to subsections 127.1(1) and (2) of the Act, Hanna-Rogerson shall pay investigation and
hearing costs of $150,000 on a joint and several basis with Rogerson and Portfolio Capital; (e) With respect to Portfolio Capital:
(i) pursuant to clause 2 of subsection 127(1) of the Act, trading in any securities or derivatives by Portfolio Capital shall cease permanently;
(ii) pursuant to clause 2.1 of subsection 127(1) of the Act, the acquisition of any securities or derivatives
by Portfolio Capital is prohibited permanently; (iii) pursuant to clause 3 of subsection 127(1) of the Act, any exemptions contained in Ontario securities
law do not apply to Portfolio Capital permanently; and (iv) pursuant to subsections 127.1(1) and (2) of the Act, Portfolio Capital shall pay investigation and
hearing costs of $309,812.56, of which $150,000 shall be payable on a joint and several basis with
Reasons: Decisions, Orders and Rulings
August 27, 2015
(2015), 38 OSCB 7369
the Hanna-Rogerson and Portfolio Capital and the remaining $159,812.56 of which shall be payable on a joint and several basis with Rogerson.
[82] After each of the Individual Respondents has made full payment of the amounts that he or she is required to pay
pursuant to paragraph [81] above, he or she, as the case may be, shall be entitled, as an exception to the provisions of subparagraphs (i), (ii) and (iii) of paragraph [81](a) above, to trade in or acquire securities in any registered retirement savings plan accounts and/or tax-free savings accounts and/or registered education savings plan and/or personal trading accounts, for which he or she has the sole legal and beneficial ownership, or is a sponsor, or for any immediate family member.
Dated at Toronto this 19th day of August, 2015. “Christopher Portner”
Reasons: Decisions, Orders and Rulings
August 27, 2015
(2015), 38 OSCB 7370
3.1.2 Bigfoot Recreation & Ski Area Ltd. and Ronald Stephen McHaffie – ss. 127(1), 127(10)
IN THE MATTER OF THE SECURITIES ACT,
R.S.O. 1990, c. S.5, AS AMENDED
AND
IN THE MATTER OF BIGFOOT RECREATION & SKI AREA LTD.
and RONALD STEPHEN MCHAFFIE
REASONS AND DECISION (Sections 127(1) and 127(10) of the Securities Act)
Decision: August 20, 2015
Panel: Mary G. Condon – Commissioner
Submissions by: Keir D. Wilmut Naila Ruba (Student-at-Law)
– For Staff of the Commission
TABLE OF CONTENTS
I. OVERVIEW II. SANCTIONS OF THE BRITISH COLUMBIA SECURITIES COMMISSION III. SUBMISSIONS OF THE PARTIES IV. ANALYSIS
A. Inter-jurisdictional Enforcement B. The Commission’s Discretion to Determine Sanctions C. Should an Order for Sanctions be Imposed in Ontario? D. The Appropriate Sanctions
V. CONCLUSION I. OVERVIEW [1] This was a hearing conducted in writing before the Ontario Securities Commission (the “Commission or OSC”) pursuant to subsections 127(1) and 127(10) of the Securities Act, R.S.O. 1990, c. S.5, as amended (the “Act”) to consider whether it is in the public interest to make an order imposing sanctions against Bigfoot Recreation & Ski Area Ltd. (“Bigfoot”) and Ronald Stephen McHaffie (“McHaffie”) (together, the “Respondents”). [2] A notice of hearing (the “Notice of Hearing”) in this matter was issued by the Commission on September 22, 2014 in relation to a statement of allegations (the “Statement of Allegations”) filed by Staff of the Commission (“Staff”) on the same date. [3] On October 24, 2014, the Commission heard an application (the “Application Hearing”) by Staff to convert this matter to a written hearing in accordance with Rule 11.5 of the Commission’s Rules of Procedure (2012), 35 O.S.C.B. 10071 (“Rules of Procedure”), and subsection 5.1(2) of the Statutory Powers Procedures Act, R.S.O. 1990, c. S. 22, as amended (the “SPPA”). The Respondents did not appear at the Application Hearing, despite being served with the Notice of Hearing, Statement of Allegations and disclosure. On October 24, 2014, the Commission issued an order (the “October 24 Order”), stating that it would grant Staff’s request subject to the Respondents’ right to object under the Rules of Procedure. [4] Staff filed an Affidavit of Lee Crann, sworn November 17, 2014, confirming service of the October 24 Order on the Respondents as of November 4, 2014. On November 19, 2014, the Commission made an order granting Staff’s application to proceed by written hearing (the “November 19 Order”). [5] Staff filed written submissions, a hearing brief and a brief of authorities, as well as an Affidavit of Lee Crann, sworn December 3, 2014, confirming service of the November 19 Order on the Respondents. The Respondent did not file any
Reasons: Decisions, Orders and Rulings
August 27, 2015
(2015), 38 OSCB 7371
responding materials. I am satisfied that the Respondents were provided with notice of the November 19 Order. Pursuant to Rule 7.1 of the Commission’s Rules of Procedure and subsection 7(2) of the SPPA, I may proceed in the absence of the Res-pondent. [6] These are my reasons and decision with respect to the sanctions sought by Staff in this matter. [7] On June 3, 2014, a panel of the British Columbia Securities Commission (the “BCSC Panel”) made an order that the Respondents engaged in an illegal distribution of securities contrary to 61(1) of the British Columbia Securities Act, R.S.B.C. 1996, c. 418 (the “BC Act”) (Bigfoot Recreation & Ski Area Ltd (Re) 2014 B.C.S.E.C.C.O.M. 213) (the “BCSC Order”)). [8] Specifically, the BCSC Panel found the following:
a. The Respondents distributed securities to 27 investors, who invested a total of $621,960, without filing a prospectus and without the availability of any exemptions, contrary to section 61(1) of the BC Act;
b. As a director of Bigfoot, McHaffie authorized, permitted and acquiesced in Bigfoot’s contravention of section
61, and therefore also contravened that section under section 168.2 of the BC Act; and c. McHaffie perpetrated a fraud on 30 investors (including 3 who purchased by way of an exemption) for
proceeds of $642,960, contrary to section 57(b) of the BC Act. [9] The BCSC Order imposes sanctions, condition, restriction or requirements on the Respondents within the meaning of paragraph 4 of subsection 127(10) of the Act. II. SANCTIONS OF THE BRITISH COLUMBIA SECURITIES COMMISSION The BCSC Order [10] The BCSC Order imposes the following sanctions, conditions, restrictions or requirements upon the Respondents:
a. Upon McHaffie
i. Pursuant to section 162(1)(b) of the BC Act, that McHaffie cease trading permanently, and is
permanently prohibited from purchasing, securities or exchange contracts; ii. Pursuant to section 161(1)(d)(i) and (ii) of the BC Act, that McHaffie resign any position he holds as,
and is permanently prohibited from becoming or acting as, a director or officer of any issuer or registrant;
iii. Pursuant to section 161(1)(d)(iii) of the BC Act, that McHaffie is permanently prohibited from
becoming or acting as a registrant or promoter; iv. Pursuant to section 161(1)(d)(iv) of the BC Act, that McHaffie is permanently prohibited from acting in
a management or consultative capacity in connection with activities in the securities market; v. Pursuant to section 161(1)(d)(v) of the BC Act, that McHaffie is permanently prohibited from
engaging in investor relations activities; vi. Pursuant to section 161(1)(g) of the BC Act, that McHaffie pay to the BCSC the funds he obtained as
a result of his contraventions of the BC Act, which the BCSC Panel found to be not less than $642,960;
vii. Pursuant to section 162 of the BC Act, that McHaffie pay to the BCSC an administrative penalty of $2
million.
b. upon Bigfoot: i. pursuant to section 161(1)(b) of BC Act, that all persons cease trading permanently, and are
prohibited permanently from purchasing, any securities of Bigfoot; ii. pursuant to section 161(1)(b) of BC Act, that Bigfoot permanently cease trading in, and be
permanently prohibited from purchasing, any securities or exchange contracts;
Reasons: Decisions, Orders and Rulings
August 27, 2015
(2015), 38 OSCB 7372
iii. pursuant to section 161(1)(d)(iii) of the BC Act, that Bigfoot is prohibited permanently from becoming or acting as a registrant, or promoter;
iv. pursuant to section 161(1)(d)(iv) of the BC Act, that Bigfoot is prohibited from acting in a
management or consultative capacity in connection with activities in the securities market; v. pursuant to section 161(1)(d)(v) of the BC Act, that Bigfoot is prohibited permanently from engaging
in investor relations activities; vi. pursuant to section 161(1)(g) of the BC Act, that Bigfoot pay to the BCSC the funds it obtained as
result of its contraventions of the BC Act, which the BCSC Panel found to be not less than $621,960; and
vii. that the amount paid under paragraphs 12(a)(vi) and 12(b)(vi) [of the BCSC Order] shall not exceed,
in the aggregate, the amount obtained by the Respondents’ respective contraventions of the BC Act.
III. SUBMISSIONS OF THE PARTIES Staff’s Submissions [11] Staff submits that it is in the public interest for the Commission to exercise its inter-jurisdictional enforcement authority under paragraph 4 of subsection 127(10) of the Act to protect investors in Ontario and Ontario's capital markets from potential misconduct by the Respondents and that sanctions substantially similar to those imposed by the BCSC Order be imposed on the Respondents. [12] Staff submits that the sanctions imposed in the BCSC Order are proportionately appropriate to the misconduct of the Respondents, and serve as both specific and general deterrence. Staff further submits that a protective order imposing conditions on the Respondents substantially similar to those imposed by the BCSC Order is required to protect investors in Ontario and Ontario’s capital markets from similar misconduct by the Respondents. [13] Staff submits that it does not have any evidence to suggest that Ontario investors were harmed by the Respondents’ conduct. However, Staff argues that the Commission needs to be aware of and responsive to an increasingly complex and interconnected inter-provincial securities industry. Accordingly, Staff respectfully submits that it is in the public interest to protect Ontario investors from the Respondents by preventing or limiting their participation in Ontario’s capital markets. [14] Staff submits that the following sanctions be imposed on the Respondents:
a. Against McHaffie that:
i. pursuant to paragraph 2 of subsection 127(1) of the Act, trading in any securities by McHaffie cease permanently;
ii. pursuant to paragraph 2.1 of subsection 127(1) of the Act, acquisition of any securities by McHaffie
be prohibited permanently; iii. pursuant to paragraphs 7 and 8.1 of subsection 127(1) if the Act, McHaffie resign any position that he
holds as a director or officer of any issuer or registrant; iv. pursuant to paragraphs 8 and 8.2 of subsection 127(1) of the Act, McHaffie be prohibited
permanently from becoming or acting as an officer or director of any issuer or registrant; and v. pursuant to paragraph 8.5 of subsection 127(1) of the Act, McHaffie be prohibited permanently from
becoming or acting as a registrant or as a promotor; b. against Bigfoot that:
i. pursuant to paragraph 2 of subsection 127(1) of the Act, trading in any securities of Bigfoot cease permanently;
ii. pursuant to paragraph 2 of subsection 127(1) of the Act, trading in any securities by Bigfoot cease
permanently;
Reasons: Decisions, Orders and Rulings
August 27, 2015
(2015), 38 OSCB 7373
iii. pursuant to paragraph 2.1 of subsection 127(1) of the Act, acquisition of any securities by Bigfoot be prohibited permanently; and
iv. pursuant to paragraph 8.5 of subsection 127(1) of the Act, Bigfoot be prohibited permanently from
becoming or acting as a registrant or as a promoter. Respondents’ Submissions [15] The Respondents did not appear and did not make any submissions in this proceeding. IV. ANALYSIS A. Inter-jurisdictional Enforcement [16] The relevant pre-conditions to be met for an inter-jurisdictional order are articulated in paragraph 4 of subsection 127(10) of the Act. An order may be made if:
4. The person or company is subject to an order made by a securities regulatory authority, derivatives regulatory authority or financial regulatory authority, in any jurisdiction, that imposes sanctions, conditions, restrictions or requirements on the person or company.
[17] The Commission held in Elliott (Re) (2009), 23 OSCB 6931 (“Elliott”) that subsection 127(10) “allows the Commission to consider any convictions or orders made against an individual in other jurisdictions, when deciding whether or not to make an order under subsection 127(1) or (5) in the public interest” (Elliott at para. 24). [18] Pursuant to the BCSC Order, the Respondents are subject to sanctions, conditions, restrictions or requirements within the meaning of paragraph 4 of subsection 127(10) of the Act. Accordingly, based on the BCSC Order, the Commission may make one or more orders under subsection 127(1) of the Act, if it is in the public interest to do so. [19] In Euston Capital Corp. (Re) (2009), 32 O.S.C.B. 6313 (“Euston Capital”), the Commission concluded that subsection 127(10) of the Act can be the grounds for an order in the public interest under subsection 127(1) of the Act:
… we conclude that we can make an order against the Respondents pursuant to our public interest jurisdiction under section 127 of the Act on the basis of decisions and orders made in other jurisdictions, if we find it necessary in order to protect investors in Ontario and the integrity of Ontario’s capital markets. (Euston Capital, supra, at para. 46.)
[20] While a panel may rely on the findings of the other jurisdiction, it must then satisfy itself that an order for sanctions is necessary to protect the public interest in Ontario:
The applicability of subsection 127(10) to the BCSC Order and the Settlement Agreement does not automatically lead to the conclusion that this Panel must make an order similar to that made by the BCSC against Elliott. Rather, we must first consider whether or not sanctions are necessary to protect the public interest, before exercising any powers granted to us under subsections 127(1) and (5), and second, if necessary, consider what the appropriate sanctions should be. (Elliott, supra at para. 27.)
[21] The Commission has relied on the findings made in other jurisdictions, and has not required a nexus to Ontario, when considering imposing a reciprocal order. However, while a nexus to Ontario is not a necessary pre-condition to the Commission’s jurisdiction to make an order in the public interest, it is a factor that may be considered by the Commission in determining whether to make such an order (Euston, supra at para. 42 citing Biller (Re) (2005), 28 O.S.C.B. 10131 at para. 32; Reeves (Re) (2012), 35 O.S.C.B. 5140 at para. 8). B. The Commission’s Discretion to Determine Sanctions [22] I may make an order against the Respondents under section 127 of the Act based on the BCSC Order if I find it necessary in order to protect investors in Ontario and the integrity of Ontario's capital markets.
Reasons: Decisions, Orders and Rulings
August 27, 2015
(2015), 38 OSCB 7374
[23] The BCSC Order imposed significant sanctions on the Respondents. As previously indicated, Staff submit that the Commission should exercise its discretion to impose sanctions substantially similar to those imposed in the BCSC Order to the extent possible under the Act. [24] The Commission must also ensure that the sanctions imposed in a case are proportionate to the circumstances and the conduct of each of respondents (Coventree Inc., Geoffrey Cornish and Dean Tai (Re) (2012), 35 O.S.C.B. 119 at para. 46). Mitigating Factors [25] The BCSC Order discerned no mitigating factors. C. Should an Order for Sanctions be Imposed in Ontario? [26] When exercising the public interest jurisdiction under section 127 of the Act, I must consider the purposes of the Act. Those purposes, set out in section 1.1 of the Act, are:
(a) to provide protection to investors from unfair, improper or fraudulent practices; and (b) to foster fair and efficient capital markets and confidence in capital markets.
[27] In pursuing these purposes, I must have regard for the fundamental principles described in section 2.1 of the Act. That section provides that one of the primary means for achieving the purposes of the Act is to restrict fraudulent and unfair market practices and procedures. Another fundamental principle is that:
[t]he integration of capital markets [be] supported and promoted by the sound and responsible harmonization and co-ordination of securities regulation regimes. (Act, supra at subsection 2.1(5).)
[28] The principles that guide the Commission in exercising its public interest jurisdiction are reflected in Committee for Equal Treatment of Asbestos Minority Shareholders v. Ontario (Securities Commission) 2001 S.C.C. 37 (“Asbestos”) where the Supreme Court of Canada considered the nature of section 127:
[I]t is important to recognize that s. 127 is a regulatory provision. In this regard, I agree with Laskin J.A. that "[t]he purpose of the Commission's public interest jurisdiction is neither remedial nor punitive; it is protective and preventive …” … [t]he purpose of an order under s. 127 is to restrain future conduct that is likely to be prejudicial to the public interest in fair and efficient capital markets. The role of the OSC under s. 127 is to protect the public interest by removing from the capital markets those whose past conduct is so abusive as to warrant apprehension of future conduct detrimental to the integrity of the capital markets." (Asbestos, at paras. 42-43, citing Mithras Management Ltd. (Re) (1990), 13 O.S.C.B. 1600.)
[29] In light of the principles of the Act and the findings of the BCSC of serious securities regulatory infractions, I find that it is necessary to order sanctions against the Respondents in the public interest. This will serve to protect investors in Ontario and the integrity of Ontario’s capital markets. I consider specific aspects of the BCSC findings below. Moreover, I have the authority to make a public interest order under subsections 127(1) and 127(10) of the Act, based on the BCSC Order. D. The Appropriate Sanctions [30] In determining the nature and duration of the appropriate sanctions in this case, I must consider all of the relevant facts and circumstances before me. Previous decisions of the Commission have considered a list of factors. The factors I consider most relevant in this case are:
(a) the seriousness of the conduct and the breaches of the BC Act.; (b) the level of a respondents’ activity in the marketplace; (c) whether the violations are isolated or recurrent; (d) any size of the profit gained or loss avoided from the illegal conduct; and
Reasons: Decisions, Orders and Rulings
August 27, 2015
(2015), 38 OSCB 7375
(e) any mitigating factors. (Re Belteco Holdings Inc. (1998), 21 O.S.C.B. 7743 at 7746; M.C.J.C. Holdings (Re) (2002), 25 O.S.C.B. 1133 at p. 1134.)
Seriousness of the Conduct [31] The Respondents were found by the BCSC Panel to have breached British Columbia securities law, and in particular, McHaffie was found to have breached the provision prohibiting fraudulent conduct. This Commission has previously recognized fraud to be a particularly egregious violation of securities law (Al-Tar Energy Corp. (Re) (2011), 34 O.S.C.B. 447). As noted above, the BCSC Panel found there were no mitigating factors present in this matter and as such this conduct remains at the high end of egregiousness. Level of Respondents’ Activity in the Marketplace [32] The Respondents engaged in a course of conduct whereby they raised approximately $642,960 from 30 investors. In order to solicit investor involvement, McHaffie provided investors with promotional materials and made false representations to investors. Whether the Violations are Isolated or Recurrent [33] The Respondents engaged in the illegal conduct between August 2007 and January 2012. This is a substantial amount of time during which the Respondents persisted in engaging in conduct that breached British Columbia securities laws. Size of the Profit Gained or Loss Avoided from the Illegal Conduct [34] McHaffie had promised investors that their investments would be used to pursue the development of a ski and recreation area. However McHaffie misappropriated the $642,960 raised and instead used investor funds for personal expenses. [35] Based on the foregoing, I have concluded that it is in the public interest to make an order under subsection 127(1) of the Act. In imposing sanctions, I rely on the BCSC Order. V. CONCLUSION [36] Accordingly, I find it is in the public interest to issue the following orders upon the Respondents:
a. against McHaffie that: i. pursuant to paragraph 2 of subsection 127(1) of the Act, trading in any securities by McHaffie cease
permanently; ii. pursuant to paragraph 2.1 of subsection 127(1) of the Act, acquisition of any securities by McHaffie
be prohibited permanently; iii. pursuant to paragraphs 7 and 8.1 of subsection 127(1) if the Act, McHaffie resign any position that he
holds as a director or officer of any issuer or registrant; iv. pursuant to paragraphs 8 and 8.2 of subsection 127(1) of the Act, McHaffie be prohibited
permanently from becoming or acting as an officer or director of any issuer or registrant; and v. pursuant to paragraph 8.5 of subsection 127(1) of the Act, McHaffie be prohibited permanently from
becoming or acting as a registrant or as a promotor; b. against Bigfoot that:
i. pursuant to paragraph 2 of subsection 127(1) of the Act, trading in any securities of Bigfoot cease permanently;
ii. pursuant to paragraph 2 of subsection 127(1) of the Act, trading in any securities by Bigfoot cease
permanently;
Reasons: Decisions, Orders and Rulings
August 27, 2015
(2015), 38 OSCB 7376
iii. pursuant to paragraph 2.1 of subsection 127(1) of the Act, acquisition of any securities by Bigfoot be prohibited permanently; and
iv. pursuant to paragraph 8.5 of subsection 127(1) of the Act, Bigfoot be prohibited permanently from
becoming or acting as a registrant or as a promoter. Dated at Toronto this 20th day of August, 2015. “Mary G. Condon”
Reasons: Decisions, Orders and Rulings
August 27, 2015
(2015), 38 OSCB 7377
3.1.3 Ground Wealth Inc. et al. – ss. 127, 127.1
IN THE MATTER OF THE SECURITIES ACT,
R.S.O. 1990, c. S.5, AS AMENDED
AND
IN THE MATTER OF GROUND WEALTH INC., MICHELLE DUNK, ADRION SMITH, JOEL WEBSTER, DOUGLAS DEBOER, ARMADILLO ENERGY INC., ARMADILLO ENERGY, INC.,
AND ARMADILLO ENERGY, LLC (aka ARMADILLO ENERGY LLC)
REASONS AND DECISION (sections 127 and 127.1)
Hearing: In writing
Decision: August 24, 2015
Panel: Christopher Portner – Commissioner
Submissions: Jonathon T. Feasby Malinda N. Norman
– For Staff of the Commission
TABLE OF CONTENTS
I. Overview II. Issues III. Analysis
A. Were the Armadillo Securities “securities” within the meaning of the Act B. Unregistered trading C. Illegal distribution of securities D. Does the Commission have jurisdiction over the Respondents?
IV. Conclusion
REASONS AND DECISION I. OVERVIEW [1] This is a hearing before the Ontario Securities Commission (the “Commission”) pursuant to sections 127 and 127.1 of
the Securities Act, R.S.O. 1990, c. S.5, as amended (the “Act”) to determine whether it is in the public interest to make an Order against Armadillo Energy Inc. (“Armadillo Texas”), Armadillo Energy, Inc. (“Armadillo Nevada”) and Armadillo Energy, LLC, also known as Armadillo Energy LLC (“Armadillo Oklahoma” and, collectively with Armadillo Texas and Armadillo Nevada, the “Respondents”).
[2] The proceeding arose from a Notice of Hearing issued by the Commission on February 1, 2013, as amended on
October 31, 2013, and a Statement of Allegations filed by Staff of the Commission (“Staff”) on February 1, 2013, as amended on October 31, 2013 (the “Amended Statement of Allegations”).
[3] In the Amended Statement of Allegations, Staff alleges that, from October 2010 through April 2011 the (“Material
Time”), the Respondents, together with Ground Wealth Inc. (“GWI”), Michelle Dunk, Adrion Smith, Joel Webster and Douglas DeBoer (collectively, the “Settling Respondents”) traded securities without being registered to do so and illegally distributed securities to Ontario investors. The securities entitled investors to the proceeds derived from the extraction and sale of oil that was subject to oil leases located in the State of Oklahoma, in the United States of America (the “Armadillo Securities”). Approximately CDN$5,061,979 and US$319,567 was raised from distributing the Armadillo Securities to more than 130 Canadian investors. Of this amount, approximately CDN$2.8 million was raised from 68 investors who were Ontario residents.
[4] All of the Settling Respondents have entered into settlement agreements which have been approved by the
Commission and, as a result, are no longer parties to this proceeding.
Reasons: Decisions, Orders and Rulings
August 27, 2015
(2015), 38 OSCB 7378
[5] The hearing on the merits in this proceeding was converted to a hearing in writing by Order of the Commission dated January 7, 2015.
[6] The Respondents have not appeared or made submissions, and have not objected to the hearing on the merits being
determined on the basis of the written record. [7] Pursuant to subsection 7(2) of the Statutory Powers Procedure Act, R.S.O. c. S.22, the Commission has jurisdiction to
proceed with a hearing in the absence of the Respondents when they have been given notice but have not appeared. I am satisfied that the Respondents have either been given notice or, in the case of Armadillo Oklahoma, that notice was waived by Order of the Commission dated July 8, 2014.
[8] The written record which I have reviewed is comprised of the Affidavit of Stephen Carpenter, sworn May 15, 2014 (the
“Carpenter Affidavit”), together with six volumes of exhibits to which the Carpenter Affidavit relates, and the Affidavit of Stephen Carpenter, sworn January 26, 2015 (the “Carpenter Supplementary Affidavit”), together with a seventh volume of exhibits to which the Carpenter Supplementary Affidavit relates.
[9] Although the Respondents are separate corporations, they operated as a single business entity in distributing the
Armadillo Securities to investors, and in paying the financial obligations arising from those securities. The funds obtained from the investors were intermingled despite the fact that Armadillo Texas was the nominal issuer of the Armadillo Securities (Carpenter Affidavit, paras 32, 58, 172-177).
II. ISSUES [10] The issues that I must address are as follows:
(a) Were the Armadillo Securities “securities” within the meaning of the Act? (b) Did the Respondents engage in unregistered trading contrary to subsection 25(1) of the Act? (c) Did the Respondents engage in an illegal distribution of securities contrary to subsection 53(1) of the Act? (d) Does the Commission have jurisdiction over the Respondents?
III. ANALYSIS A. Were the Armadillo Securities “securities” within the meaning of the Act [11] The following documents and instruments are included in the definition of “security” in subsection 1(1) of the Act:
(b) any document constituting evidence of title to or interest in the capital, assets, property,
profits, earnings or royalties of any person or company, … (j) any certificate of interest in an oil, natural gas or mining lease, claim or relative voting trust
certificate, (k) oil or natural gas royalties or leases or fractional or other interest therein, … (n) any investment contract.
[12] The term “investment contract” is not defined in the Act. The leading Canadian case relating to the interpretation of the term is Pacific Coast Coin Exchange of Canada v. Ontario Securities Commission (1978), 2 S.C.R. 112, in which the Supreme Court of Canada held (at pages 128-129) that an investment contract involves: (a) the advancement of money by an investor; (b) with an intention or expectation of profit; (c) in a common enterprise, in which the fortunes of the investor are interwoven with and dependent upon the
efforts and success of those who solicit the capital (the promoters) or third parties; and
Reasons: Decisions, Orders and Rulings
August 27, 2015
(2015), 38 OSCB 7379
(d) the efforts made by those other than the investor are the undeniably significant ones, those essential managerial efforts which affect the failure or success of the enterprise.
[13] I find that the Armadillo Securities satisfy each of the criteria for an investment contract set out in paragraph [11] above
and were securities within the meaning of the Act for the following reasons: (a) A total of CDN$5,061,979 and US$319,567 was invested in Armadillo Securities by investors (Carpenter
Affidavit, paras. 172-175); (b) Investors who purchased Armadillo Securities did so with the expectation of a profit on their investment
(Volume 1 of Exhibits to Carpenter Affidavit, Tabs 2D – GWI Brochure, 2E – Form of Partnership Agreement, and 2F – GWI/Armadillo Corporate Review); and
(c) The Respondents were dependent on the investors for funds and the investors were dependent on the efforts
and success of the Respondents and others, whose efforts were essential to the failure or success of the investment (Volume 1 of Exhibits to Carpenter Affidavit, Tabs 2E -Form of Partnership Agreement, and 2F – GWI/Armadillo Corporate Review).
[14] As the Armadillo Securities could be characterized as (i) documents constituting evidence of title to or an interest in the
assets, property or earnings of a company; (ii) certificates evidencing an interest in oil; and/or (iii) oil royalties or leases or fractional or other interest therein, I also find that the Armadillo Securities are securities within the meaning of paragraphs (b), (j) and (k) of the definition of “security” in subsection 1(1) of the Act.
B. Unregistered trading [15] Subsection 25(1) of the Act prohibits trading in securities by a person or company who is not registered as follows:
Unless a person or company is exempt under Ontario securities law from the requirement to comply with this subsection, the person or company shall not engage in or hold himself, herself or itself out as engaging in the business of trading in securities unless the person or company, (a) is registered in accordance with Ontario securities law as a dealer; or (b) is a representative registered in accordance with Ontario securities law as a dealing
representative of a registered dealer and is acting on behalf of the registered dealer.
[16] The terms “trade” and “trading are defined in subsection 1(1) of the Act to include: (a) any sale or disposition of a security for valuable consideration … … (e) any act, advertisement, solicitation, conduct or negotiation directly or indirectly in
furtherance of any of the foregoing.
[17] In determining whether a respondent has engaged in acts in furtherance of a trade, the Commission has adopted a contextual approach which “requires an examination of the totality of the conduct and the setting in which the acts have occurred, the primary consideration of which is the effects the acts had on those to whom they were directed” (Re Momentas Corp. (2006), 29 OSCB 7408 (“Momentas”), at para. 77).
[18] A total of CDN$5,061,979 and US$319,597 of Armadillo Securities were sold to more than 130 investors (Carpenter
Affidavit, paras. 114, 172; Volume 1 of Exhibits to Carpenter Affidavit, Tab 3A – Investor List). I find that the following conduct by the Respondents were acts in furtherance of the trades in Armadillo Securities: (a) Issuing the Armadillo Securities and working with GWI to market and sell those securities to Ontario investors
(Exhibits to Carpenter Affidavits, Volume 1, Tabs 2E – Form of Partnership Agreement, 2F – GWI/Armadillo Corporate Review and Volume 2, Tab 1 – Excerpts of compelled interview of Michelle Dunk);
(b) Accepting funds from the sale of Armadillo Securities to investors (Carpenter Affidavit, paras. 167-168, 172-
175); (c) Making payments to investors in respect of the Armadillo Securities (Carpenter Affidavit, paras. 32, 75;
Volume 2 of Exhibits to Carpenter Affidavit, Tab 1 – Excerpts of compelled interview of Michelle Dunk));
Reasons: Decisions, Orders and Rulings
August 27, 2015
(2015), 38 OSCB 7380
(d) Providing promotional materials and forms of agreement to GWI to be provided to prospective investors (Carpenter Affidavit, para. 123; Volume 2 of Exhibits to Carpenter Affidavit, Tab 4 – Excerpts of compelled interview of Joel Webster);
(e) Issuing ownership certificates and providing them to GWI to provide to investors (Carpenter Affidavit, para.
120); (f) Issuing and signing forms of agreement with investors (Carpenter Affidavit, paras. 144-146); and (g) Meeting with prospective investors for the purpose of marketing the Armadillo Securities (Carpenter Affidavit,
paras. 132-134). Re Limelight Entertainment Inc. (2008), 31 OSCB 1727 at paras. 131-133; Momentas at para. 80; Re Lett (2004), 27 OSCB 3215 at paras. 48-51, 64, aff’d, [2006] OJ No 751 (Div. Ct).
[19] During the Material Time, none of the Respondents and the Settling Respondents was registered to trade in securities
(Volume 5 of Exhibits to Carpenter Affidavit, Tab 2 – Certificates). [20] There is no evidence before me that the trades of Armadillo Securities were made pursuant to an exemption from the
registration requirement. [21] Based on the foregoing, I find that the Respondents engaged in unregistered trading contrary to subsection 25(1) of the
Act. C. Illegal distribution of securities [22] Subsection 53(1) of the Act prohibits the distribution of securities without a prospectus as follows:
No person or company shall trade in a security on his, her or its own account or on behalf of any other person or company if the trade would be a distribution of the security, unless a preliminary prospectus and a prospectus have been filed and receipts have been issued for them by the Director.
[23] A distribution, where used in relation to trading in securities, is defined in subsection 1(1) of the Act to mean “a trade in securities of an issuer that have not been previously issued.”
[24] As discussed above, the Respondents traded Armadillo Securities. Those trades were a distribution as the Armadillo
Securities had not been previously issued (Volume 1 of Exhibits to Carpenter Affidavit, Tab 2E – Form of Partnership Agreement, Tab 2F – GWI/Armadillo Corporate Review).
[25] The evidence establishes that neither a preliminary prospectus nor a prospectus for the Armadillo Securities was filed
with the Commission (Volume 5 of Exhibits to Carpenter Affidavit, Tab 2 – Certificates). [26] Based on the foregoing, I find that the Respondents distributed Armadillo Securities contrary to subsection 53(1) of the
Act. D. Does the Commission have jurisdiction over the Respondents? [27] Having found above that the Respondents engaged in unregistered trading contrary to subsection 25(1) of the Act, I
must determine whether the Respondents traded securities in Ontario. It is sufficient for the foregoing purpose if a person engages in Ontario in any acts in furtherance of a trade in a security (Re Lehman Brothers & Associates Corp (2011), 34 OSCB 12717 at paras. 35-37).
[28] There were numerous acts by the Respondents in furtherance of trading in the Armadillo Securities including the
following: (a) The Respondents, working with GWI, distributed the Armadillo Securities to residents of Ontario (Carpenter
Affidavit, para. 114); (b) Funds from the distribution of Armadillo Securities were deposited to bank accounts in Ontario (Carpenter
Affidavit, para. 167);
Reasons: Decisions, Orders and Rulings
August 27, 2015
(2015), 38 OSCB 7381
(c) Funds collected from the distribution of Armadillo Securities in Ontario were used to fund GWI in Ontario and were distributed to the Respondents (Carpenter Affidavit, paras. 167-173); and
(d) The Respondents sent cheques to GWI in Ontario for distribution to Ontario investors and transferred funds
directly to the bank accounts of Ontario investors (Carpenter Affidavit, paras. 167, 176).
[29] Based on the foregoing, I find that the Commission does have jurisdiction over the Respondents for the purposes of this proceeding.
IV. CONCLUSION [30] I find that, during the Material Time, the Respondents traded Armadillo Securities without registration and distributed
Armadillo Securities without a prospectus contrary to subsections 25(1) and 53(1) of the Act and contrary to the public interest.
[31] An order will be issued as of the date of these Reasons and Decision as follows:
(a) The Respondents have until September 2, 2015 to notify the Secretary of the Commission that they, or any of them, require an oral sanctions hearing, which, if required, will then be scheduled by the Secretary;
(b) Failing notification by the Respondents, Staff shall serve and file their written submissions on sanctions and
costs by September 11, 2015; (c) The Respondents shall serve and file their written submissions on sanctions and costs by September 18,
2015; and (d) Staff shall serve and file reply submissions on sanctions and costs, if any, by September 25, 2015.
Dated at Toronto this 24th day of August, 2015. “Christopher Portner”
Reasons: Decisions, Orders and Rulings
August 27, 2015
(2015), 38 OSCB 7382
3.1.4 Paul Azeff et al. – ss. 127, 127.1
IN THE MATTER OF THE SECURITIES ACT,
R.S.O. 1990, c. S.5, AS AMENDED
AND
IN THE MATTER OF PAUL AZEFF, KORIN BOBROW, MITCHELL FINKELSTEIN, HOWARD JEFFREY MILLER
AND MAN KIN CHENG (a.k.a. FRANCIS CHENG)
REASONS AND DECISION ON SANCTIONS AND COSTS (Sections 127 and 127.1 of the Securities Act)
Hearing: June 17, 2015
Decision: August 24, 2015
Panel: Alan J. Lenczner – Chair of the Panel
AnneMarie Ryan – Commissioner
Appearances: Donna Campbell Tamara Center Clare Devlin
– For Staff of the Commission
Gordon Capern Jeffrey Larry
– For Mitchell Finkelstein
Tyler Hodgson – For Paul Azeff and Korin Bobrow
Simon Bieber Daniel Bernstein Terrence Liu
– For Howard Miller
Janice Wright Greg Temelini
– For Francis Cheng
TABLE OF CONTENTS
I. Introduction II. Legislative Framework III. Analysis
A. Mitchell Finkelstein B. Paul Azeff and Korin Bobrow C. Howard Miller and Francis Cheng
IV. Costs V. Conclusion
REASONS AND DECISION I. INTRODUCTION [1] Pursuant to a merits decision issued on March 24, 2015, Mitchell Finkelstein was found to have contravened section 76
of the Securities Act1 by tipping on three separate occasions.2 Similarly, Paul Azeff contravened section 76 of the Act five times, Korin Bobrow twice, Howard Miller three times, and Francis Cheng twice, by insider trading and tipping. We now render our decision and reasons for the sanctions and costs consequent to the merits decision.
1 R.S.O. 1990, c. S.5, as amended (the “Act”). 2 Re Paul Azeff et al. (2015), 38 O.S.C.B. 2983.
Reasons: Decisions, Orders and Rulings
August 27, 2015
(2015), 38 OSCB 7383
II. LEGISLATIVE FRAMEWORK [2] The objectives of the Act are twofold: to protect investors from unfair or fraudulent practices and to foster confidence in
fair and efficient capital markets.3 The attainment of these objectives is extremely important because Canadian investors build wealth through the capital markets, either by trading directly for their own investment accounts, or indirectly, through funds and pension plans. Protecting the integrity of the capital markets is a fundamental policy objective of the Ontario Securities Commission (the “Commission” or “OSC”). The Act, which embodies the policy objectives, has been in existence for many decades.
[3] The objectives of the Act are supported by the requirements of full transparency, utmost integrity of registrants and a
level playing field for all those who participate in, and engage with, the capital markets. [4] Sanctions are meted out to those registrants and non-registrants who violate these principles, harm investors and
abuse the integrity of the capital markets. [5] Sanctions are imposed not to punish past conduct per se, but to remove the opportunity for violators, in the future, from
harming investors and from lowering the integrity of the capital markets.4 Protection of investors and of the market is a key consideration of sanctions.
[6] Quite apart from personal deterrence, the Supreme Court of Canada and various other courts and securities
commissions have recognized, as the proper exercise of a sanctions regime, the need for general deterrence to discourage other registrants and non-registrants, who might be tempted to breach the Act or impair the integrity of the capital markets.
[7] Section 127 of the Act establishes the sanctions that may be imposed on those who have breached sections of the Act.
They include trading bans, registration bans, director and officer exclusions and administrative penalties up to $1 million per breach of the Act. The imposition of one or more of these sanctions must take into account the number of breaches, the severity of each breach, the need to protect investors and capital markets in the future, the personal circumstances of the respondents, and specific personal and general deterrence.5 The layering on of sanctions must not aggregate to a result that is punitive rather than protective and deterrent. Punishment is not a permissible goal of sanctions.
[8] The hierarchy of sanctions will depend whether the respondent is a registrant or non-registrant. For a registrant,
removal from the capital markets provides a good measure of the future protection for investors and the markets. Trading bans round out that protective shield. Administrative penalties mainly serve the personal and the general deterrence elements.
[9] For a non-registrant, trading bans and exclusion as a director and officer of a public issuer address future protective
measures, but often an administrative penalty is also necessary to make the protection meaningful, particularly where the respondent does not have a significant portfolio of investments and has never been, nor likely will ever, be a director or officer of a public company and thus in a position to impact the public markets.
[10] Sanctions have to be carefully tailored to the particular breaches of the Act, the role of the perpetrator and the
particular circumstances applicable to each respondent. Prior decisions of this Commission, or of any other regulator, must be considered, as we have done, to gain the wisdom from peers. However, it would not be an appropriate exercise of our discretion to slavishly follow prior sanctions decisions and make adjustments to them based on the amount of profit garnered in these situations, or of the number of breaches. We have taken careful note of decisions such as Suman, urged on us by Staff and Agueci, urged on us by the respondents.6 We have considered those decisions, and several others, as guides to the approach we adopted. In the result, we have weighed the factors of this case, being mindful of the interests of the respondents, but also being aware of our duty to investors and the public markets.
3 Section 1.1 of the Act. 4 Committee for the Equal Treatment of Asbestos Minority Shareholders v. Ontario (Securities Commission), [2001] 2 S.C.R. 132 at para. 43. 5 Re Belteco Holdings Inc. (1998), 21 O.S.C.B. 7743 at 7746; Re M.C.J.C. Holdings Inc. (2002), 25 O.S.C.B. 1133 (“M.C.J.C. Holdings”) at
1136; Re Cartaway Resources Corp., [2004] 1 S.C.R. 672 at para. 60. 6 Re Shane Suman and Monie Rahman (2012), 35 O.S.C.B. 11218; Re Agueci et al. (2015), 38 O.S.C.B. 5995.
Reasons: Decisions, Orders and Rulings
August 27, 2015
(2015), 38 OSCB 7384
III. ANALYSIS A. Mitchell Finkelstein [11] Finkelstein is a lawyer, who for some 14 years to 2010, was a rising partner in the mergers and acquisitions
department of Davies, a nationally renowned, transaction oriented, law firm. For all those 14 years, he was continuously engaged with clients who accessed the capital markets for investment funds or for takeover transactions. Finkelstein, as a lawyer, knew the strict requirements of client confidentiality, i.e. that information of a private nature acquired could not be discussed or disseminated outside the confines of the solicitor-client relationship. He also knew the prohibitions of section 76 of the Act against tipping or insider trading on generally undisclosed materials facts, referred to as material non-public information (“MNPI”). He must have been keenly aware that passing on confidential information not only broke Davies’ code of conduct, was prohibited conduct for any lawyer and was a contravention of the Act, but that the consequences, if discovered, would be dire, potentially resulting in loss of partnership, loss of employment and significant regulatory penalties.
[12] Yet, as we have determined, on three occasions between 2004 and 2007, he passed on MNPI to his good friend and
investment adviser, Azeff, respecting two takeover transactions in which he was directly involved as a lawyer, and one in which his firm was acting and which he informed himself of by accessing corporate documents from Davies’ Document Management System. But for his unlawful conduct of tipping contrary to subsection 76(2), no insider trading by others and further tipping would have occurred. Finkelstein was the instigator of significant consequences to market integrity and must bear responsibility for the chain of events which took place as a result of his breach of confidence.
[13] The passing of MNPI to a person not authorized to receive it strikes at the core of fairness to all investors engaged in
the market. Tipping of MNPI undercuts one of the foundational pillars of the Act, namely confidence. It provides an informational advantage to some market participants at the expense of others. Those who take advantage of the MNPI have the opportunity to profit while depriving others of a like profit. In this case, the profit earned by the family, friends and clients of the respondents in the three takeover transactions totalled approximately $2 million earned over a relatively short period of investment and represented a significant percentage return on those investments.
[14] As the instigator of the subsequent insider trading by others in disregard of his duties of confidentiality and of the high
standard of probity towards the capital markets expected of a mergers and acquisitions lawyer, Finkelstein’s transgressions must be considered to be at the upper end of severity.
[15] Staff (“Staff”), among other things, requested a lifetime trading/acquisition ban, subject to a carve-out, a lifetime
exclusion as a director and officer of a reporting issuer and administrative penalties totalling $1.5 million, being $500,000 of a possible $1 million for each of the three breaches.
[16] Against these demands, we weighed the particular circumstances of Finkelstein. [17] In the period between 2004 to 2007, the evidence disclosed that Finkelstein did not have significant investments. No
further information was presented regarding Finkelstein’s investments or net worth at the sanctions hearing on June 17, 2015. Without any further evidence, we are left with the impression, from his subsequent work history after leaving Davies, that he may still not have a significant investment portfolio. While we agree that Finkelstein deserves a ban on his ability to trade freely in the equities and bond markets, we find that a trading ban alone may not be a significant personal deterrent.
[18] We carefully considered other sanctions which, combined with a trading ban, would accomplish the three goals of
investor protection, future personal deterrence, and an expression of general deterrence to like-minded individuals. [19] Finkelstein’s counsel reminded us that Finkelstein had already suffered from the loss of a promising career as a rising
mergers and acquisitions partner. Coupled with the significant publicity surrounding these proceedings, it is unlikely that Finkelstein would again be offered a position in a law firm engaged in major transaction mandates. While we accept, unreservedly, the monetary and reputational harm Finkelstein has occasioned to himself, we must nevertheless remove any risk that he will be in a position to affect capital markets adversely and we must notify like-minded individuals of the consequences that will accompany misconduct.
[20] The Ontario Court of Appeal in Rowan noted that penalties of up to $1 million per infraction were entirely in keeping
with the OSC’s mandate to regulate the capital markets where enormous sums of money are involved and where substantial penalties are necessary to remove economic incentives for non-compliance with market rules. The administrative penalty must not be viewed as a cost of doing business or a licence fee for unscrupulous market participants.7
7 Rowan v. Ontario Securities Commission, 2012 ONCA 208 (“Rowan”) at para. 49.
Reasons: Decisions, Orders and Rulings
August 27, 2015
(2015), 38 OSCB 7385
[21] Weighing all the factors in Finkelstein’s favour, namely: loss of position, young family, diminished earning power, modest net wealth, and restricted opportunity to re-offend, we determine that the appropriate sanctions that meet the objectives of future protection of the capital markets, specific personal deterrence and general deterrence, and which are not so excessive that they tilt toward being punitive include: 1. a 10-year ban on trading and acquisition of securities with appropriate carve-outs for his registered accounts,
which can either be managed by him, subject to limitations on securities held, or can be managed by an independent third-party manager with full discretion, not subject to limitations on securities held;
2. a permanent ban on becoming an officer or director of a reporting issuer; and 3. administrative penalties of $450,000, representing $150,000 of a maximum $1 million per contravention. This
amount can, at Finkelstein’s option, be paid in three equal yearly instalments, the first instalment being due 60 days from the date of this decision. Failure to make a payment accelerates any remaining payments, such that the full amount becomes due and payable.
[22] In his submissions on sanctions, Finkelstein argued that an administrative penalty of $75,000 would be appropriate,
representing $25,000 per charge and compared his actions to Agueci, who was given administrative penalties of $225,000 for 9 breaches of subsection 76(2) the Act. He argued that their position and actions were very similar in that they were both gatekeepers. However, in our view, their circumstances are quite different. Finkelstein was a lawyer and partner in his firm. He was a person in a position of trust to whom clients and the firm entrusted confidential information. While Finkelstein was instrumental in advising clients on legalities of transactions that affected the capital markets, Agueci had no direct participation other than having the occasion to read relevant transaction documents. Those in a position of trust, like Finkelstein, can have a significant impact on the markets and require suitable deterrence.
B. Paul Azeff and Korin Bobrow [23] Azeff and Bobrow are retail investment advisers who have worked together for many years. They shared a single
trading code while working at CIBC Wood Gundy (“CIBC”) and were, in every sense of the word, business partners, though not formally so. Both are in their mid-40s. By the time of these events, 2004 to 2007, they had built a substantial book of business with a large following of loyal customers. As registrants, both should have understood the prohibitions in the Act against trading on and tipping of MNPI. Additionally, Azeff had been, at one time, a branch manager of a brokerage firm and had the responsibility of supervising others to ensure compliance with securities regulations.
[24] After their termination of employment by CIBC, following upon the issue of the Notice of Hearing and Statement of
Allegations, Azeff and Bobrow found employment with Euro Pacific Canada Inc. (“Euro Pacific”) and applied to the Investment Industry Regulatory Organization of Canada (“IIROC”) for approval to have their registration re-activated pending the decision of the OSC on the merits. IIROC, by decision rendered May 31, 2011 approved their registration subject to strict supervisory conditions. Eighteen specific monitoring conditions were required by the IIROC decision.
[25] For the past four years, Azeff and Bobrow have complied with all those conditions. The co-founder and CEO of Euro
Pacific provided an affidavit, at the sanctions and costs hearing, attesting to his familiarity with the proceedings by the OSC and its decision on the merits of March 24, 2015. He further confirmed that Azeff and Bobrow “have been fully compliant with the conditions imposed upon them by IIROC and all governing securities laws for a period of over four (4) years” (para. 6). He concluded by stating that Azeff and Bobrow have been valued employees and that: “As CEO of Euro Pacific, it is my profound hope that the Respondents can continue their employment with our company under strict terms of supervision” (para. 8). We appreciate the sincerity of the offer. Azeff and Bobrow, in their submissions, requested that they be allowed to continue in their professions under close monitoring and strict supervision for 15 years. We can well understand that Azeff and Bobrow’s loyal customers and their volume of trading is valuable to Euro Pacific.
[26] Azeff and Bobrow argue that the continuation of their registration with these conditions adequately protects markets in
the future. Any registration ban, they say, is akin to professional capital punishment. [27] However, in our view, a continuation of registration, even with supervision, may not be sufficient to protect investors
and the capital markets and reflects neither personal deterrence nor general deterrence. Azeff and Bobrow violated the most fundamental aspect of the Act, insider trading and tipping, on seven occasions, five times for Azeff and twice for Bobrow. Both insider trading and tipping have been compared to a cancer that damages innocent investors and erodes public confidence in the capital markets.8 Both types of violations are hard to uncover and the evidence to establish them is painstakingly tedious to assemble. Azeff, in particular, as a registrant, was a primary gatekeeper in the events. He received MNPI from his good friend, Finkelstein. He knew he should have disregarded the information, not used it
8 M.C.J.C. Holdings, supra at 1135.
Reasons: Decisions, Orders and Rulings
August 27, 2015
(2015), 38 OSCB 7386
to benefit himself, his family members, clients and friends. But for his conduct and his activity, no harm would have been occasioned to the public market and to other investors. Azeff and Bobrow together bought Masonite International Corporation (“MHM”) stock for about 150 accounts and on some days, their purchases represented a substantial percentage of the total volume of MHM shares traded on the TSX. They knew that the compliance department at CIBC would be alerted to this volume of trading prior to a takeover and would want to see their reasonable basis file. Azeff and his partner Bobrow set about gathering a file of analysts’ and technical reports in an attempt to justify their accumulation of MHM shares. We have rejected, in our merits decision, the explanation by Azeff and Bobrow for purchasing large amounts of MHM stock. In addition, we note that when asked at the compelled examination about his relationship with Finkelstein, Azeff gave the impression that he did not know him well or that he worked at Davies. Both statements were far from the truth.
[28] Continued registration for Azeff and Bobrow, even under strict supervision, does not provide a sufficient shield to the
market. It would leave Azeff and Bobrow, as registrants, in the milieu where financings and takeover bids are regularly discussed. We have no confidence that Azeff and Bobrow would resist temptation any more in the future than they did in the past. Supervision, while laudable, does not cover the whole day. Tipping can occur by various, difficult-to-detect, means and may not always occur at the workplace. However, we do not agree with Staff’s request for a permanent ban on registration. For men in their mid-40s, that is too long. We conclude that a 10-year ban for both Azeff and Bobrow as registrants is appropriate. As well, a lifetime ban for both from being officers and directors of a reporting issuer must be imposed.
[29] Both Azeff and Bobrow should also forfeit the privilege of being able to trade freely in the market for 10 years. They will
be afforded the same carve-out as Finkelstein, for their registered accounts which can either be managed by them, subject to limitations on securities held, or can be managed by an independent third-party manager with full discretion, not subject to limitations on securities held.
[30] Azeff profited from his illegal trading to the extent of $49,996 and Bobrow $10,217. These amounts are ordered to be
disgorged respectively. The respondents Azeff and Bobrow do not oppose the disgorgement request of Staff. [31] To reflect the aspects of personal and general deterrence, we are reminded that the legislature authorized a $1 million
administrative penalty per breach of the Act, following the recommendation of a Five Year Review Committee as a necessary remedy to protect the integrity of the capital markets where the wealth and retirement funds of most Ontarians is invested, which employ thousands of people and which contribute enormously to Ontario’s economy.9 The administrative penalty must be set at an amount that is neither a license fee for the respondents for their misdeeds, nor a cost of doing business for others who are contemplating non-compliance.
[32] All the respondents urged that the administrative penalties should bear a multiple ratio of two to four times the profit
earned by the miscreant. Past decisions of securities commissions have either expressly or by implication been within that range. Suman, supra does not fall within that logic. Otherwise the respondents contend; the administrative penalty bears no connection to anything objective and is entirely arbitrary, in the discretion of the panel.
[33] We disagree with that submission. The proposed logic would fail in the circumstances where a transgressor makes no
profit. It also fails the objectives of personal and general deterrence when a small profit is made by the violator but large profits are made by those he tipped or on whose behalf he traded. A panel of the commission should take the following non-exhaustive list of factors into consideration in arriving at the appropriate administrative penalty: (a) the statutory maximum of $1 million per breach; (b) the severity of the breach - not all breaches are as fundamental to the integrity of the capital markets as
others; (c) whether there were multiple and/or repeated breaches of the Act; (d) the dollar damage to the market and the prejudice to innocent investors; (e) the profit earned by the respondent; (f) level of administrative penalties imposed in other cases; and (g) the past and present circumstances of the respondent.10
9 Rowan, supra at para. 49, citing Five Year Review Committee Final Report: Reviewing the Securities Act (Ontario) (Toronto: Queen's
Printer, 2003), at p. 214. 10 Re MRS Sciences Inc. et al. (2014), 37 O.S.C.B. 5611 at para. 105, citing Re Limelight Entertainment Inc. (2008), 31 O.S.C.B. 12030 at
paras. 71 and 78.
Reasons: Decisions, Orders and Rulings
August 27, 2015
(2015), 38 OSCB 7387
[34] Applying these factors to Azeff and Bobrow, we have already noted that the breaches of s. 76(1) and (2), tipping and insider trading, are at the very high end of severity. Azeff was guilty of five breaches; Bobrow of two. The market impact of their breaches was approximately $2 million. On the other hand, the breaches occurred between eight and 11 years ago. Azeff and Bobrow have not suffered a permanent loss of employment over that period of time. They have continued to practice their profession apparently in compliance with the regulations. Both men have young families. In all the circumstances, Staff’s request of administrative penalties of $2,250,000 for Azeff and $600,000 for Bobrow is too high. The appropriate and proper balance that reflects deterrence is an aggregate of administrative penalties totalling $750,000 for Azeff and $300,000 for Bobrow. Both can have the option of paying these penalties in two years, with half the amount to be paid 60 days from the date of this decision and the balance one year later. Failure to make a payment accelerates any remaining payments, such that the full amount becomes due and payable.
[35] Azeff and Bobrow also argued that their administrative penalties should be more reflective of the penalties assigned in
the Agueci case, citing the penalty against another registrant whose penalty was roughly three times his profits. As earlier stated, the amount of profit garnered by the transgressor is but one factor in consideration of an administrative penalty. More important factors are the number and severity of the breaches and the wide spread nature of the violations. In Agueci, each of the respondents traded only for themselves and did not pass information on to other participants. In this case, Azeff and Bobrow traded for themselves and tipped others, which had a widespread impact on the markets and must be considered an aggravating factor for them.
C. Howard Miller and Francis Cheng [36] Miller and Cheng were, respectively, a senior and more junior investment advisor at TD Securities (“TD”) in the years
2004 to 2007. Miller was very experienced and mentored and assisted Cheng, who although he had several years of experience, was having difficulty in building his book of business.
[37] Miller and Cheng were undeniably culpable of insider trading and tipping as evidenced by the explicit content of the
emails that they sent to clients. As registrants, they knew that they were utilizing MNPI, but must have felt that their trades and those of their clients in MHM would not attract attention and their improper conduct would not be discovered.
[38] Both Miller and Cheng were terminated by TD in 2010 and have not worked in the investment industry since. Neither
one testified at the merits hearing, except through the transcripts of their compelled evidence. Neither has provided any explanation or expressed any remorse for their breaches or actions. We have no evidence or idea of their present circumstances or employment.
[39] Miller breached the provisions of the Act on three occasions and garnered for himself a profit of $24,485. He must
disgorge that profit. [40] Although Miller did not instigate the tipping scheme, having received the MNPI from LK, as a registrant, he should not
have acted on it for his own benefit and passed it on to DW so that the latter could benefit. Miller’s registration ban should be equal to that of Azeff, i.e., a period of 10 years. He should also have the same trading ban and carve-out as imposed on Finkelstein, Azeff and Bobrow. In addition, he must be banned for 10 years from being an officer or director of a reporting issuer.
[41] The appropriate administrative penalty for Miller for each breach of the Act should be in the same amount as payable
by Finkelstein and Azeff: namely $150,000 per breach or $450,000 in aggregate. Miller has the option of paying the amount over two equal yearly instalments with the first $225,000 payable within 60 days of this decision. Failure to make a payment accelerates any remaining payments, such that the full amount becomes due and payable.
[42] Cheng, as a registrant, is equally culpable. His email to a disgruntled client investor demonstrates his eagerness to
disregard the Act’s fundamental probity rules in order to assuage a client’s complaint. He was found to have twice breached the provisions of the Act. To protect the public in the future, and the capital markets, he must have a registration ban for 10 years. We have determined that the degree of his culpability is slightly less than that of Miller. He is to be banned from trading for 10 years with the same carve-out as Finkelstein, Azeff, Bobrow and Miller. He is also to be prohibited from being an officer or director of a reporting issuer for 10 years.
[43] Staff argue that Cheng be ordered to disgorge $36,410 profit that he made by trading his brother’s account. There is no
question that Cheng had authority from his brother, who lives in China, to trade his account. Similarly, Cheng had authority to trade his wife’s RRSP account. The profit, however, garnered in both these accounts from the unlawful trades belongs to his brother and his wife respectively.
[44] Staff has traced four random payments, from February 2005 to August 2005, from the brother to Cheng, totalling
$42,000, which Staff alleges is payment by the brother to Cheng for the $36,410 profit Cheng made for his brother. We
Reasons: Decisions, Orders and Rulings
August 27, 2015
(2015), 38 OSCB 7388
do not accept Staff’s submissions. The evidence is not clear, cogent and convincing on a balance of probabilities. It is hard to reconcile a $42,200 repayment of a $36,410 profit. The monies came in four varying amounts at random times. Staff stopped looking at the money transfers in September 2005. The evidence further revealed that the brother continued to transfer monies to Cheng thereafter, a further two transfers in 2005, all of which aggregated some $14,000. We dismiss Staff’s request for a disgorgement order for Cheng.
[45] At the merits hearing, Cheng’s wife testified that Cheng had little or no investments in the period from 2004 to 2007
because his earnings were modest. We have not received any updated information regarding Cheng’s employment, earnings or net worth in the past five years. Given his junior role at TD, his receipt of MNPI from his mentor, Miller, the undoubted signal from Miller that he could use the MNPI, and his inferred modest means, we determine that an administrative penalty of $100,000 per breach or a total of $200,000, rather than the $500,000 sought, serves as an appropriate balance between personal and general deterrence. Cheng may make the payment over two calendar years with the first $100,000 to be paid within 60 days of this decision and the balance within one year thereafter. Failure to make a payment accelerates any remaining payments, such that the full amount becomes due and payable.
IV. COSTS [46] Staff requests costs in the aggregate amount of $1,000,000 for the time incurred in the investigation and in the 24-day
hearing of the merits. Staff points out that its total docketed time, fees and disbursements amount to $3,313,629. The dockets provided support the figures and the respondents have not taken issue with any particular docket. Staff has discounted its overall costs by 70% to be conservative, reasonable and proportionate to the complexity and seriousness of the matters brought before the Commission”.11
[47] The respondents all claim that $1 million for costs is too high and does not reflect the fact that some allegations were
released before the merits hearing and that success at the merits hearing was very much divided. Three of six takeover transactions were found to involve insider trading or tipping, or both. In the other three takeover transactions, Staff did not establish the allegations. The payment of rewards by Azeff to Finkelstein, for the tips, which was a feature of Staff’s case, was not proven.
[48] Insider trading and tipping is difficult to establish and requires, as in this case, extensive investigation and keen forensic
skill. Staff, in our view, has been responsible, in its public duty, in being conservative in its costs request of $1 million. However, we do not feel that enough weight has been afforded to the divided success that resulted from the well-defended merits hearing. In our view, a global costs award of $500,000 would strike a reasonable balance.
[49] Not all respondents were involved in all the allegations. The volume of evidence adduced for each respondent varied
significantly as did their cross-examinations and the time taken by their defences. The appropriate assessment of costs is: (a) Finkelstein to pay $125,000; (b) Azeff to pay $175,000; (c) Bobrow to pay $125,000; (d) Miller to pay $50,000; and (e) Cheng to pay $25,000.
V. CONCLUSION [50] We conclude that the following sanctions are appropriate and proportionate to the circumstances and conduct of each
of the respondents and that it is in the public interest to make these orders: 1. With respect to Finkelstein:
(a) pursuant to clause 2 of subsection 127(1) of the Act, trading in any securities by Finkelstein shall cease for 10
years; (b) pursuant to clause 2.1 of subsection 127(1) of the Act, the acquisition of any securities by Finkelstein is
prohibited for 10 years;
11 Rule 18.2 of the OSC’s Rules of Procedure, (2014) 37 O.S.C.B. 4168; Re Ochnik (2006), 29 O.S.C.B. 5917 at paras. 29 and 31.
Reasons: Decisions, Orders and Rulings
August 27, 2015
(2015), 38 OSCB 7389
(c) as exceptions to the 10-year prohibitions in respect of trading and acquisition of securities ordered in subparagraphs 1(a) and 1(b) above, Finkelstein shall be permitted to: i. personally trade and/or acquire mutual funds, exchange-traded funds (“ETFs”), government bonds
and/or guaranteed investment certificates (“GICs”) for the account of any registered retirement savings plan (“RRSP”), registered retirement income fund (“RRIF”), registered education savings plan (“RESP”) and tax free savings account (“TFSA”), as defined in the Income Tax Act, R.S.C. 1985, c.1, as amended (the “Income Tax Act”), in which Finkelstein and/or his children have sole legal and beneficial ownership, solely through a registered dealer in Ontario, to whom Finkelstein must have given a copy of the order; and
ii. to retain the services of one or more independent, arms-length dealer/portfolio manager(s) who are
registered in accordance with Ontario securities law, to trade and/or acquire securities in any RRSP, RRIF, RESP and TFSA, as defined in the Income Tax Act, on Finkelstein’s behalf, provided that:
1. the respective registered dealer/portfolio manager(s) is provided with a copy of this order
prior to trading or acquiring securities on Finkelstein’s behalf; 2. the respective registered dealer/portfolio manager(s) has sole discretion over what trades
and acquisitions may be made in the account and Finkelstein has no direction or control over the selection of specific securities;
3. Finkelstein is permitted to have annual discussions with the respective registered
dealer/portfolio manager(s) for the sole purpose of Finkelstein providing information regarding general investment objectives, suitability and risk tolerance or as required under Ontario securities law; and
4. Finkelstein may change registered dealer/portfolio manager(s), subject to the conditions set
out above, with notice to the Commission of any such change to be filed by Finkelstein within 30 days of making such change;
(d) pursuant to clause 3 of subsection 127(1) of the Act, any exemptions contained in Ontario securities law do
not apply to Finkelstein for 10 years; (e) pursuant to clause 6 of subsection 127(1) of the Act, Finkelstein is reprimanded; (f) pursuant to clauses 7, 8.1 and 8.3 of subsection 127(1) of the Act, Finkelstein shall resign from any position
he may hold as a director or an officer of any reporting issuer, registrant or investment fund manager and/or any issuer that is a registrant, or that directly or indirectly holds more than a five percent interest in a registrant;
(g) pursuant to clauses 8, 8.2 and 8.4 of subsection 127(1) of the Act, Finkelstein is permanently prohibited from
becoming or acting as a director or an officer of any reporting issuer, registrant or investment fund manager; (h) pursuant to clause 8.5 of subsection 127(1) of the Act, Finkelstein is prohibited for 10 years from becoming or
acting as a registrant, as an investment fund manager or as a promoter; (i) pursuant to clause 9 of subsection 127(1) of the Act, Finkelstein shall pay administrative penalties in the total
amount of $450,000 to the Commission, which shall be designated for allocation or use by the Commission in accordance with subsection 3.4(2)(b) of the Act and is payable, at his option, over three equal yearly instalments with the first $150,000 payable within 60 days of this decision. A failure to make a payment accelerates any remaining payments, such that the full amount becomes due and payable; and
(j) pursuant to section 127.1 of the Act, Finkelstein shall pay the amount of $125,000 in respect of part of the
costs of the Commission’s investigation and hearing;
2. With respect to Azeff and Bobrow:
(a) pursuant to clause 2 of subsection 127(1) of the Act, trading in any securities by each of Azeff and Bobrow shall cease for 10 years;
(b) pursuant to clause 2.1 of subsection 127(1) of the Act, the acquisition of any securities by each of Azeff and
Bobrow is prohibited for 10 years;
Reasons: Decisions, Orders and Rulings
August 27, 2015
(2015), 38 OSCB 7390
(c) as exceptions to the 10-year prohibitions in respect of trading and acquisition of securities ordered in subparagraphs 2(a) and 2(b) above, each of Azeff and Bobrow shall be permitted to:
i. personally trade and/or acquire mutual funds, ETFs, government bonds and/or GICs for the account
of any RRSP, RRIF, RESP and TFSA, as defined in the Income Tax Act, in which by each of Azeff and Bobrow and/or their children have sole legal and beneficial ownership, solely through a registered dealer in Ontario, to whom each must have given a copy of the order;
ii. to retain the services of one or more independent, arms-length dealer/portfolio manager(s) who are
registered in accordance with Ontario securities law, to trade and/or acquire securities in any RRSP, RRIF, RESP and TFSA, as defined in the Income Tax Act, on behalf of each of Azeff and Bobrow’s, provided that:
1. the respective registered dealer/portfolio manager(s) is provided with a copy of this order
prior to trading or acquiring securities on each of Azeff and Bobrow’s behalf; 2. the respective registered dealer/portfolio manager(s) has sole discretion over what trades
and acquisitions may be made in the account and each of Azeff and Bobrow has no direction or control over the selection of specific securities;
3. Azeff and Bobrow are each permitted to have annual discussions with the respective
registered dealer/portfolio manager(s) for the sole purpose of providing information regarding general investment objectives, suitability and risk tolerance or as required under Ontario securities law; and
4. Azeff and Bobrow may each change registered dealer/portfolio manager(s), subject to the
conditions set out above, with notice to the Commission of any such change to be filed by each of Azeff and Bobrow within 30 days of making such change;
(d) pursuant to clause 3 of subsection 127(1) of the Act, any exemptions contained in Ontario securities law do
not apply to each of Azeff and Bobrow for 10 years; (e) pursuant to clause 6 of subsection 127(1) of the Act, each of Azeff and Bobrow is reprimanded; (f) pursuant to clauses 7, 8.1 and 8.3 of subsection 127(1) of the Act, each of Azeff and Bobrow shall resign from
any position he may hold as a director or an officer of any reporting issuer, registrant or investment fund manager and/or any issuer that is a registrant, or that directly or indirectly holds more than a five percent interest in a registrant;
(g) pursuant to clauses 8, 8.2 and 8.4 of subsection 127(1) of the Act, each of Azeff and Bobrow is permanently
prohibited from becoming or acting as a director or an officer of any reporting issuer, registrant or investment fund manager;
(h) pursuant to clause 8.5 of subsection 127(1) of the Act, each of Azeff and Bobrow is prohibited for 10 years
from becoming or acting as a registrant, as an investment fund manager or as a promoter; (i) pursuant to clause 9 of subsection 127(1) of the Act, Azeff shall pay $750,000 and Bobrow shall pay $300,000
to the Commission as administrative penalties, which shall be designated for allocation or use by the Commission in accordance with subsection 3.4(2)(b) of the Act and each amount is payable, at their option, over two equal yearly instalments with the first half payable within 60 days of this decision. A failure to make a payment accelerates any remaining payments, such that the full amount becomes due and payable;
(j) pursuant to clause 10 of subsection 127(1) of the Act, Azeff shall disgorge $49,996 and Bobrow shall disgorge
$10,217 to the Commission, which shall be designated for allocation or use by the Commission in accordance with subsection 3.4(2)(b) of the Act; and
(k) pursuant to section 127.1 of the Act, Azeff shall $175,000 and Bobrow shall pay $125,000 in respect of part of
the costs of the Commission’s investigation and hearing;
3. With respect to Miller and Cheng:
(a) pursuant to clause 2 of subsection 127(1) of the Act, trading in any securities by each of Miller and Cheng shall cease for 10 years;
Reasons: Decisions, Orders and Rulings
August 27, 2015
(2015), 38 OSCB 7391
(b) pursuant to clause 2.1 of subsection 127(1) of the Act, the acquisition of any securities by each of Miller and Cheng is prohibited for 10 years;
(c) as exceptions to the 10-year prohibitions in respect of trading and acquisition of securities ordered in
subparagraphs 3(a) and 3(b) above, each of Miller and Cheng shall be permitted to:
i. personally trade and/or acquire mutual funds, ETFs, government bonds and/or GICs for the account of any RRSP, RRIF, RESP and TFSA, as defined in the Income Tax Act, in which by each of Miller and Cheng and/or their children have sole legal and beneficial ownership, solely through a registered dealer in Ontario, to whom each must have given a copy of the order;
ii. to retain the services of one or more independent, arms-length dealer/portfolio manager(s) who are
registered in accordance with Ontario securities law, to trade and/or acquire securities in any RRSP, RRIF, RESP and TFSA, as defined in the Income Tax Act, on behalf of each of Miller and Cheng, provided that:
1. the respective registered dealer/portfolio manager(s) is provided with a copy of this order
prior to trading or acquiring securities on each of Miller and Cheng’s behalf; 2. the respective registered dealer/portfolio manager(s) has sole discretion over what trades
and acquisitions may be made in the account and each of Miller and Cheng has no direction or control over the selection of specific securities;
3. Miller and Cheng are each permitted to have annual discussions with the respective
registered dealer/portfolio manager(s) for the sole purpose of providing information regarding general investment objectives, suitability and risk tolerance or as required under Ontario securities law; and
4. Miller and Cheng may each change registered dealer/portfolio manager(s), subject to the
conditions set out above, with notice to the Commission of any such change to be filed by each of Miller and Cheng within 30 days of making such change;
(d) pursuant to clause 3 of subsection 127(1) of the Act, any exemptions contained in Ontario securities law do
not apply to each of Miller and Cheng for 10 years; (e) pursuant to clause 6 of subsection 127(1) of the Act, each of Miller and Cheng is reprimanded; (f) pursuant to clauses 7, 8.1 and 8.3 of subsection 127(1) of the Act, each of Miller and Cheng shall resign from
any position he may hold as a director or an officer of any reporting issuer, registrant or investment fund manager and/or any issuer that is a registrant, or that directly or indirectly holds more than a five percent interest in a registrant;
(g) pursuant to clauses 8, 8.2 and 8.4 of subsection 127(1) of the Act, each of Miller and Cheng is prohibited for
10 years from becoming or acting as a director or an officer of any reporting issuer, registrant or investment fund manager;
(h) pursuant to clause 8.5 of subsection 127(1) of the Act, each of Miller and Cheng is prohibited for 10 years
from becoming or acting as a registrant, as an investment fund manager or as a promoter; (i) pursuant to clause 9 of subsection 127(1) of the Act, Miller shall pay $450,000 as administrative penalties,
which shall be designated for allocation or use by the Commission in accordance with subsection 3.4(2)(b) of the Act, and is payable over two equal yearly instalments with the first $225,000 payable, at his option, within 60 days of this decision and the balance within one year. A failure to make a payment accelerates any remaining payments, such that the full amount becomes due and payable;
(j) pursuant to clause 9 of subsection 127(1) of the Act, Cheng shall pay $200,000 to the Commission as
administrative penalties, which shall be designated for allocation or use by the Commission in accordance with subsection 3.4(2)(b) of the Act, and is payable over two equal yearly instalments with the first $100,000 payable, at his option, within 60 days of this decision and the balance within one year. A failure to make a payment accelerates any remaining payments, such that the full amount becomes due and payable;
Reasons: Decisions, Orders and Rulings
August 27, 2015
(2015), 38 OSCB 7392
(k) pursuant to clause 10 of subsection 127(1) of the Act, Miller shall disgorge $24,485 to the Commission, which shall be designated for allocation or use by the Commission in accordance with subsection 3.4(2)(b) of the Act; and
(l) pursuant to section 127.1 of the Act, Miller shall pay $50,000 and Cheng shall pay $25,000 in respect of part
of the costs of the Commission’s investigation and hearing.
[51] We will issue a separate order giving effect to our decision on sanctions and costs. Dated at Toronto this 24th day of August, 2015. “Alan J. Lenczner” “AnneMarie Ryan”
Reasons: Decisions, Orders and Rulings
August 27, 2015
(2015), 38 OSCB 7393
3.2 Director’s Decisions 3.2.1 Argosy Securities Inc. and Keybase Financial Group Inc.
IN THE MATTER OF STAFF’S RECOMMENDATION TO IMPOSE TERMS AND CONDITIONS ON THE REGISTRATIONS OF
ARGOSY SECURITIES INC. AND KEYBASE FINANCIAL GROUP INC.
OPPORTUNITY TO BE HEARD BY THE DIRECTOR UNDER SECTION 31 OF THE SECURITIES ACT (ONTARIO)
Decision 1. For the reasons outlined below, my decision is to impose the terms and conditions on the registrations of Argosy
Securities Inc. (Argosy) and Keybase Financial Group Inc. (Keybase) as recommended by staff (Staff) of the Compliance and Registrant Regulation Branch (CRR) of the Ontario Securities Commission (OSC or Commission) with the changes noted below: a. “April 1, 2015” in term and condition 1 is amended to “September 15, 2015”, and b. “May 1, 2015” in term and condition 2 is amended to “October 15, 2015”.
2. My decision is based on the materials provided to me at or prior to the opportunity to be heard (OTBH), the verbal arguments of both counsel at the OTBH, the testimony of the seven affiants, and the written closing submissions of both counsel.
Background 3. By letter dated March 3, 2015, Staff advised Argosy and Keybase (collectively, the Registrants) that Staff had
recommended to the Director that the registrations of Argosy (as a dealer in the category of investment dealer) and of Keybase (as a dealer in the categories of mutual fund dealer and exempt market dealer) be subject to substantially similar terms and conditions. The proposed terms and conditions required the hiring of a common independent consultant (Consultant) to recommend changes to the Registrants’ governance structure and compliance resources. The proposed terms and conditions contained provisions requiring: a. progress reports from the Consultant to Staff and to staff of either the Investment Industry Regulatory
Organization of Canada (IIROC) or the Mutual Fund Dealers Association of Canada (MFDA), as applicable, b. an attestation letter from the Consultant that its recommendations have been implemented and tested, c. unrestricted access by Staff and staff of the IIROC or the MFDA, as applicable, to the Consultant, and d. a follow up report by the Consultant to Staff.
4. Pursuant to section 31 of the Securities Act (Ontario), each of Argosy and Keybase were entitled to an OTBH before
the Director decides whether to accept Staff’s recommendations. The joint OTBH with respect to these matters commenced on July 20, 2015. On July 20, verbal submissions were provided by Michael Denyszyn (Senior Legal Counsel, CRR) on behalf of Staff, and by Joseph Groia and Kevin Richard (Groia and Company) on behalf of the Registrants. In addition, six of seven affiants (listed below) provided verbal testimony. Written closing submissions from Staff were received on July 30, 2015, and from Groia and Company on August 6, 2015. The six affiants that provided verbal testimony were: a. Stratis Kourous, Senior Accountant, CRR b. Noel Sequeira, Manager of Business Conduct Compliance, IIROC c. Irene Cheung, Manager of Financial Compliance, MFDA d. Dorin Boeriu, Chief Compliance Officer (CCO), Argosy e. Betty Jo Royce, CCO, Keybase, and f. Dax Sukhraj, 100% owner and Ultimate Designated Person (UDP) of each of Keybase and Argosy.
Reasons: Decisions, Orders and Rulings
August 27, 2015
(2015), 38 OSCB 7394
Issues discussed during the OTBH Does the Director have the authority to impose terms and conditions? 5. Staff submitted (and Keybase and Argosy do not take issue with this point) that the Director has the authority to impose
terms and conditions. The question at hand is whether I, as Director, should exercise this authority. Should terms and conditions be imposed on the registrations of Keybase and Argosy? 6. Staff argued that the proposed terms and conditions are a “responsive, flexible and respectful regulatory response” to
the pattern of non-compliance with Ontario securities law and with the requirements of the respective self-regulatory organizations (collectively, Securities Law) of both Argosy and Keybase. Counsel to the Registrants argued that I was being asked to make a decision based on “ancient history” and that the terms and conditions recommended by Staff are “somewhat harsh”, “will cause real harm” and are a “blunt instrument”. They also argued that any concerns that Staff had at the time of its 2014 review of the Registrants with regard to inadequate compliance resources had been satisfactorily addressed. With respect, I disagree with the Registrants’ characterisation of their history of non-compliance for the reasons set out in this decision.
7. Examples of the Registrants’ history of non-compliance with Securities Law include:
a. Significant findings from IIROC’s 2015 business conduct examinations (BCE) of two locations of Argosy have
been referred to IIROC’s investigations unit. Although the Registrants suggested that these audits were complete and that IIROC BCE staff had completed its audit and closed its file, this does not appear to be the case since the May 2015 closing letters for both locations indicate that IIROC BCE staff has “forwarded the Significant findings … together with your response, to IIROC’s Investigations unit for their consideration”.
b. Repeat material unresolved issues from IIROC’s 2015 BCE follow-up examination of Argosy. Although the
final report relating to the review was not issued as at the date of the OTBH, Noel Sequeira, Manager of Business Conduct Compliance, IIROC testified that there are “repeat, material [business conduct compliance] issues that are yet unresolved”. His affidavit included a list of preliminary issues identified during the review, which “included, but were not limited to, delegation of duties; supervision of employee accounts held at other IIROC dealers; supervision of outside business activities; supervision of account activity; supervision and operation of “off book” client name mutual fund accounts; and out of jurisdiction accounts”.
c. Keybase has been the subject of over 90 complaints relating to the allegedly unsuitable use of excessive
leverage. Counsel to the Registrants asserted that “the problem or most of the problems that gave rise to the Staff’s concern last year arose from the Halifax office.” While I acknowledge that Keybase has dismissed two of the three dealing representatives involved (the third is under supervisory terms and conditions imposed by the Nova Scotia Securities Commission), that the issues resulting in the complaints are “stale-dated”, and that the MFDA has closed some complaint files with no action, a number of the client complaint files remain open and outstanding and some have been escalated to the MFDA Enforcement Department. In addition, Keybase’s corporate errors and omissions insurer has cancelled Keybase’s coverage based in part on the quantity of the complaints that may turn into lawsuits (Argosy’s corporate errors and omissions insurance has also been cancelled). Lastly, MFDA staff continues to be concerned about the ongoing actions by Keybase’s head office in respect of the handling of these complaints. Specifically, the affidavit of Mr. Liptrott (Manager of Case Assessment, MFDA) sets out that MFDA staff is currently investigating several issues including whether Keybase: i. is “sufficiently conducting a factual investigation of the complaint”, ii. is “taking a balanced approach that objectively considers the interests of the complainant, the
Approved Person and the Dealer Member”, iii. is “conducting a reasonable analysis of the relevant facts in relation to regulatory standards”, and iv. has “delayed in handling complaints due to concerns about the availability of errors and omissions
coverage maintained by the relevant Approved Person”.
d. MFDA placed Keybase in discretionary early warning in 2015. The MFDA placed Keybase in discretionary early warning because of a going concern note in their December 2014 financial statements relating to a Nova Scotia judgement against Keybase, as well as an additional 47 claims that are generally at the application stage and 19 claims where a notice of action has been brought (all of which relate to allegedly unsuitable use
Reasons: Decisions, Orders and Rulings
August 27, 2015
(2015), 38 OSCB 7395
of leverage). Dax Sukhraj, UDP of Keybase testified that the Nova Scotia judgement has now been settled and that there is uncertainty as to when or how the other claims would be resolved.
e. Matters from the MFDA’s 2014 compliance audit of Keybase have been referred to Enforcement. The
February 2015 closing letter indicates that MFDA compliance staff had no further comments “[w]ith the exception of the items that have been specifically referred to the Enforcement Department.”
f. Frequency of compliance reviews by the MFDA and IIROC. Staff from both the MFDA and IIROC have
characterised both Registrants as “high risk” for a number of years. The Registrants’ high risk ranking has led to 16 reviews of the Registrants in the past six years by Staff, MFDA or IIROC compliance staff (subsequent to the two settlements referred to in paragraphs g. and h. below), and the identification of a large number of repeat, significant deficiencies in most of these reviews.
g. 2009 Keybase settlement with the MFDA. The settlement agreement required a fine payable by each of
Keybase and Dax Sukhraj, the hiring of an independent monitor to resolve compliance deficiencies identified during 2006 and 2009 sales compliance reviews (several of which had been previously identified in earlier MFDA compliance review reports), Dax Sukhraj to complete the Partners Directors and Senior Officers course, and other fines and costs.
h. 2008 Argosy hearing with IIROC regarding repeat patterns of non-compliance and failure to address issues
previously identified. The settlement agreement relates to repeat patterns of non-compliance and failure to fully address/identify compliance issues from sales compliance reviews performed in 2002, 2003, 2005, 2006, and 2007. As set out in the settlement agreement “the long list of deficiencies which Argosy failed to cure cannot be described in terms other than gross negligence… time and again promises were made and solutions proposed, only to lead to yet further shortcomings. Bearing in mind the number of years involved, there was a chronic failure to observe the rules, regulations and by-laws of the [IIROC]”.
8. As indicated by the number, severity and on-going nature of the examples of significant repeat non-compliance set out
above, I don’t believe that it is correct to conclude that the Registrants’ non-compliance is a matter of “ancient history”. In my view, the Registrants’ non-compliance as demonstrated above is a matter of continued and current (and in my mind significant) non-compliance by both Registrants.
Have the registrants demonstrated that they have adequate compliance resources or an adequate corporate governance structure? 9. Staff performed a high-level review of both Registrants at an enterprise-wide level in early 2014. Staff performed this
review because of the fact that “in the past there had been a number of issues raised by both [IIROC and the MFDA] and with repeat deficiencies” and because “both firms were and have been considered high-risk by both [IIROC and the MFDA] for a number of years”. 13 of the 17 deficiencies identified by Staff during the Argosy review, and 13 of the 15 deficiencies identified by Staff during the Keybase review, were characterised as significant. Two pervasive issues were identified from this review – inadequate compliance resources and an inadequately responsive governance structure.
10. Although Staff acknowledged to the Registrants in writing that its specific findings “may no longer be timely”, Staff
viewed the findings as “symptoms of, rather than causes of, Staff’s underlying concern that the [Registrants] may lack appropriate compliance resources and an adequate corporate governance structure”.
11. Counsel to the Registrants argued that both Keybase and Argosy spend approximately 40% of their payroll costs
(which exclude the costs of the hundreds of dealing representatives at the Registrants) on compliance activities and that their ratio of compliance staff to registered representatives is on the high end.
12. Counsel to the Registrants also argued that Argosy and Keybase have recently enhanced their corporate structure by
hiring two (and three, respectively) additional directors prior to the OTBH (in Argosy’s case, the additional directors were added one week before the date of the OTBH). At Argosy, the two additional directors are one of the sons of Dax Sukhraj (the owner and UDP of both Argosy and Keybase) and Don Cook, and at Keybase, the three additional directors are Dax Sukhraj’s spouse and his two sons. The so-called independent directors in both cases are either Don Cook (the chief financial officer of both Argosy and Keybase) or a member of Dax Sukhraj’s family. Mr. Cook has reported directly to Dax Sukhraj for at least the last seven years. Without commenting on the effectiveness as a director of any of these individuals, in my view, none of these them is truly independent of Argosy or Keybase. And while I acknowledge that there is no requirement for independent directors at registrants, in my view given the nature, prevalence and significance of what I view as the ongoing compliance issues at the Registrants, it is arguable whether the Registrants’ corporate structure has been enhanced by the hiring of these directors.
Reasons: Decisions, Orders and Rulings
August 27, 2015
(2015), 38 OSCB 7396
Are the terms and conditions still necessary despite the Registrants’ recent remedial measures? 13. Counsel to the Registrants also argued that the onus was on Staff to demonstrate that the proposed terms and
conditions are necessary, fair and reasonable and that Staff had failed to satisfy that onus. Part of the argument put forward was that the period of time between Staff’s review of the Registrants and the proposed terms and conditions was too long, and that the proposed terms and conditions failed to recognise the fairly recent or very recent changes made to the compliance systems and corporate governance structure by the Registrants. Counsel also argued that the proposed terms and conditions were premature and unnecessary, and that they would consume management and compliance resources of the Registrants resulting in the diversion of these resources away from the primary business of the Registrants.
14. Since the Registrants received the March 2015 letter from Staff which set out Staff’s recommended terms and
conditions, the Registrants have implemented the following changes to their operations and their compliance infrastructure (examples only provided): a. Rolled out anti-money laundering and privacy training, b. Began a new risk ranking system, c. Appointed further directors to the board of directors of Argosy, and d. Decided to move to a single fee schedule for Keybase clients effective January 2016.
15. In addition, in the last year or so, the Registrants have implemented the following changes to their operations and compliance infrastructure (examples only provided): a. Keybase has hired four additional compliance resources (for a total of 13 compliance staff at Keybase),
although some of these staff are solely or partially devoted to litigation support in respect of the unresolved claims against Keybase. In addition, Argosy hired an additional compliance officer,
b. Keybase’s compliance department completed the transfer of all client data from a purchased registrant to
Keybase’s back office system which counsel argued was a “significant compliance improvement”, and c. Keybase substantially amended their policies and procedures manual in response to a MFDA audit finding.
16. Staff acknowledges that these changes may have a positive impact on the operations and compliance infrastructure of the Registrants. However, Staff argued that compliance by the Registrants is an ongoing responsibility under Securities Law, and I should take limited comfort from the fact that many of these changes appear to have been implemented only after Staff recommended imposing terms and conditions on the registrations of the Registrants or as a result of a compliance review by one of IIROC staff or MFDA staff.
17. In my view, the Consultant under the terms and conditions is best placed to determine the effectiveness of these recent
changes and to determine whether further changes are required to the operations and compliance infrastructure of the Registrants to enable them to comply fully with Securities Law. The Registrants have had numerous opportunities to enhance their operations and compliance infrastructure over the years by making changes necessary to respond to the numerous significant (and often repeat) deficiencies identified by both the MFDA and IIROC staff (and more recently OSC Staff) in their compliance oversight reviews of the Registrants, but have largely chosen not to do so on a timely basis.
Reasons for decision 18. As set out above, my decision is to impose the terms and conditions recommended by Staff on the registrations of
Keybase and Argosy. I agree with Staff’s submissions that the terms and conditions are: a. responsive – because they seek to address what Staff has identified as the root causes of the pattern of
repeat and ongoing non-compliance at the Registrants, b. flexible – because they provide the Consultant with the flexibility to accept, reject or modify the current
compliance practices at the Registrants, and c. respectful – because they respect the business realities of the Registrants by relying on the Consultant to
make recommendations on improvements to the current compliance practices at the Registrants, rather than Staff imposing prescriptive changes to the compliance practices at the Registrants.
Reasons: Decisions, Orders and Rulings
August 27, 2015
(2015), 38 OSCB 7397
19. I also agree with Staff that the terms and conditions are designed to foster an effective long-term solution to the issues identified at the Registrants by creating a strong compliance environment within both firms.
20. In my view, the Registrants have a substantial record of non-compliance with Securities Law. The Registrants should
note that I might, if asked, have been prepared to impose more substantive sanctions on the Registrants (such as more prescriptive terms and conditions, or more restrictive terms and conditions such as limitations on the operations of the Registrants). I am hopeful that the Consultant retained under the terms and conditions will assist the Registrants (and their UDP and CCOs) in developing a compliance infrastructure and corporate governance structure that will assist them in complying with Securities Law on an ongoing basis.
“Marrianne Bridge” Deputy Director, Compliance, Strategy and Risk Compliance and Registrant Regulation Branch Ontario Securities Commission Dated: August 18, 2015
Reasons: Decisions, Orders and Rulings
August 27, 2015
(2015), 38 OSCB 7398
This page intentionally left blank
August 27, 2015
(2015), 38 OSCB 7399
Chapter 4
Cease Trading Orders
4.1.1 Temporary, Permanent & Rescinding Issuer Cease Trading Orders
Company Name Date of Temporary Order
Date of Hearing Date of Permanent Order
Date of Lapse/Revoke
Silver Stream Mining Corp. 12-August-15 24-August-15 24-August-15
RDX Technologies Corporation 12-August-15 24-August-15 24-August-15
Quanta Resources Inc. 12-August-15 24-August-15 24-August-15
Canadian Imperial Venture Corp. 12-August-15 24-August-15 24-August-15
Newlox Gold Ventures Corp. 12-August-15 24-August-15 26-August-15
4.2.1 Temporary, Permanent & Rescinding Management Cease Trading Orders
Company Name Date of Order of Temporary Order
Date of Hearing Date of Permanent Order
Date of Lapse/Expire
Date of Issuer Temporary Order
THERE ARE NO ITEMS TO REPORT THIS WEEK. 4.2.2 Outstanding Management & Insider Cease Trading Orders
Company Name Date of Order of Temporary Order
Date of Hearing Date of Permanent Order
Date of Lapse/Expire
Date of Issuer Temporary Order
THERE ARE NO ITEMS TO REPORT THIS WEEK.
Cease Trading Orders
August 27, 2015
(2015), 38 OSCB 7400
This page intentionally left blank
August 27, 2015
(2015), 38 OSCB 7401
Chapter 7
Insider Reporting
The following is a weekly summary of insider transactions by insiders of Ontario reporting issuers in SEDI ® (the System for Electronic Disclosure by Insiders).1 The weekly summary contains insider transactions reported during the 7-day period ending Sunday at 11:59 p.m. (i.e. the Sunday prior to the Bulletin Issue date).2
Guide to Codes
Relationship of Insider to Issuer (Rel=n) 1 Issuer 2 Subsidiary of Issuer 3 10% Security Holder of Issuer 4 Director of Issuer 5 Senior Officer of Issuer 6 Director or Senior Officer of 10% Security Holder 7 Director or Senior Officer of Insider or Subsidiary of Issuer (other than in 4,5,6) 8 Deemed Insider – 6 Months before becoming Insider
Nature of Transaction (T/O)
00 Opening Balance-Initial SEDI Report 10 Acquisition or disposition in the public market 11 Acquisition or disposition carried out privately 15 Acquisition or disposition under a prospectus 16 Acquisition or disposition under a prospectus exemption 22 Acquisition or disposition pursuant to a take-over bid, merger or acquisition 30 Acquisition or disposition under a purchase/ ownership plan 35 Stock dividend 36 Conversion or exchange 37 Stock split or consolidation 38 Redemption, retraction, cancellation, repurchase 40 Short sale 45 Compensation for property 46 Compensation for services 47 Acquisition or disposition by gift 48 Acquisition by inheritance or disposition by bequest 50 Grant of options 51 Exercise of options 52 Expiration of options 53 Grant of warrants 54 Exercise of warrants 55 Expiration of warrants 56 Grant of rights 57 Exercise of rights 59 Exercise for cash 70 Acquisition or disposition (writing) of third party derivative 71 Exercise of third party derivative 72 Other settlement of third party 73 Expiration of third party derivative 90 Change in nature of ownership 97 Other 99 Correction of Information
Note: The asterisk in the “Date/Month End Holding” column indicates the insider disagreed with the system calculated balance when the
transaction was reported.
1 SEDI® is a registered trademark owned by CDS INC.
2 ©CDS INC.
Insider Reporting
August 27, 2015
(2015), 38 OSCB 7402
Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Price
Date/Month End Holdings
Acquired/ Disposed
ABCOURT MINES INC. Common Shares catégorie B
Hinse, Normand 4 20/08/2015 10 0.03 3,181,273 200,000
ABCOURT MINES INC. Common Shares catégorie B
MESTRALLET, FRANCOIS JOSEPH PIERRE MARIE
4 17/08/2015 10 0.03 5,266,000 30,000
ABCOURT MINES INC. Common Shares catégorie B
MESTRALLET, FRANCOIS JOSEPH PIERRE MARIE
4 20/08/2015 10 0.03 5,930,000 664,000
Abitibi Royalties Inc. Common Shares Ball, Ian 4, 5 17/08/2015 10 2.5 23,823 100
Abitibi Royalties Inc. Common Shares Ball, Ian 4, 5 18/08/2015 10 2.31 25,523 1,700
Abitibi Royalties Inc. Common Shares Ball, Ian 4, 5 18/08/2015 10 2.4 26,023 500
Abitibi Royalties Inc. Common Shares Ball, Ian 4, 5 18/08/2015 10 2.41 4,050 100
Abitibi Royalties Inc. Common Shares Ball, Ian 4, 5 19/08/2015 10 2.4 4,150 100
Abitibi Royalties Inc. Common Shares Ball, Ian 4, 5 19/08/2015 10 2.47 4,250 100
Abitibi Royalties Inc. Common Shares Ball, Ian 4, 5 19/08/2015 10 2.47 4,350 100
Abitibi Royalties Inc. Common Shares Ball, Ian 4, 5 19/08/2015 10 2.47 4,450 100
Abitibi Royalties Inc. Common Shares Ball, Ian 4, 5 19/08/2015 10 2.47 4,550 100
Acasti Pharma Inc. Options Carter, Roderick Noel 4 14/07/2015 00
Acasti Pharma Inc. Options Carter, Roderick Noel 4 19/08/2015 50 0.48 100,000 100,000
Acasti Pharma Inc. Options Montgomery, Adrian Taylor 4 19/08/2015 50 0.48 175,000 100,000
Acasti Pharma Inc. Options Tuckson, Reed 4 19/08/2015 50 0.48 175,000 100,000
Acasti Pharma Inc. Options Waksal, Harlan 4 19/08/2015 50 0.48 500,000 100,000
Acasti Pharma Inc. Options Wenker, Jerald Joseph 4 19/08/2015 50 0.48 175,000 100,000
ACL International Ltd. Common Shares Muraro, James William 4 10/06/2015 00
ACTIVEnergy Income Fund Trust Units ACTIVEnergy Income Fund 1 18/08/2015 38 4.7982 29,703,668 1,100
ACTIVEnergy Income Fund Trust Units ACTIVEnergy Income Fund 1 19/08/2015 38 4.7386 29,705,068 1,400
AcuityAds Holdings Inc. Common Shares Dent, Roger 4 19/05/2015 15 0.7 130,000 80,000
AcuityAds Holdings Inc. Options Dent, Roger 4 19/05/2015 15 0.7 114,286
AcuityAds Holdings Inc. Options Dent, Roger 4 19/05/2015 15 0.7 114,286
AcuityAds Holdings Inc. Options Dent, Roger 4 19/05/2015 15 0.7 114,286
AcuityAds Holdings Inc. Options Dent, Roger 4 20/08/2015 50 0.94 60,000 20,000
AcuityAds Holdings Inc. Options Mayer, Igal 4 20/08/2015 50 0.94 75,000 25,000
AcuityAds Holdings Inc. Options Pollack, Sheldon M. 4 20/08/2015 50 0.94 289,286 25,000
AcuityAds Holdings Inc. Options Steinhart, Gary 4 20/08/2015 50 0.94 60,000 20,000
AcuityAds Holdings Inc. Options Tsaparis, Paul 4 20/08/2015 50 0.94 75,000 25,000
AcuityAds Holdings Inc. Options Waxman, Yishay 4 20/08/2015 50 0.94 60,000 20,000
Aequus Pharmaceuticals Inc. Common Shares Shahbazi, Hamed 4 10/08/2015 10 0.55 28,000 25,000
Ag Growth International Inc. Common Shares Anderson, Gary Keith 4, 5 20/08/2015 10 36.69 122,114 2,000
Ag Growth International Inc. Common Shares Close, Timothy Jackson 5 18/08/2015 10 40 5,000 1,000
Ag Growth International Inc. Common Shares Close, Timothy Jackson 5 20/08/2015 10 37 6,185 1,185
Ag Growth International Inc. Common Shares Close, Timothy Jackson 5 21/08/2015 10 35.25 8,185 2,000
Agnico Eagle Mines Limited Common Shares Datta, Picklu 5 20/08/2015 10 35.85 4,122 -1,000
Agnico Eagle Mines Limited Common Shares Datta, Picklu 5 20/08/2015 51 28.03 8,122 4,000
Agnico Eagle Mines Limited Common Shares Datta, Picklu 5 20/08/2015 10 36.03 4,122 -4,000
Agnico Eagle Mines Limited Options Datta, Picklu 5 20/08/2015 51 28.03 234,500 -4,000
Agrium Inc. Common Shares Agrium Inc. 1 17/08/2015 38 127.44 587,500
Agrium Inc. Common Shares Agrium Inc. 1 17/08/2015 38 127.44 0 -587,500
Air Canada Class B Voting Shares Clark, Christie James Beckett
4 17/08/2015 10 11.95 70,310 8,400
Air Canada Class A Variable Voting Shares
Tabor, James Anthony 5 20/08/2015 10 8.97 8,277 1,340
Air Canada Class B Voting Shares Verschuren, Annette Marie 4 17/08/2015 10 11.7 63,093 4,000
AIRBOSS OF AMERICA CORP.
Common Shares Laurie, Earl H 7 14/08/2015 51 22.63 60,742 23,090
AIRBOSS OF AMERICA CORP.
Options Laurie, Earl H 7 14/08/2015 51 5.27 50,000 -43,000
Alabama Graphite Corp. Common Shares Spine, Daniel 4, 5 20/08/2015 10 0.15 453,000 25,000
Alamos Gold Inc. Common Shares Class A Cormier, John Andrew 5 14/08/2015 10 4.77 11,250
Alamos Gold Inc. Common Shares Class A Cormier, John Andrew 5 14/08/2015 10 4.74 13,950 6,800
AlarmForce Industries Inc. Common Shares Investmentaktiengesellschaft für langfristige Investoren TGV
3 18/08/2015 10 11.45 2,502,304 1,700
Insider Reporting
August 27, 2015
(2015), 38 OSCB 7403
Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Price
Date/Month End Holdings
Acquired/ Disposed
AlarmForce Industries Inc. Common Shares Investmentaktiengesellschaft für langfristige Investoren TGV
3 20/08/2015 10 11.45 2,502,604 300
Alexander Nubia International Inc.
Common Shares Massoud, Adel Mounir 6 14/08/2015 46 0.125 7,750,666 2,260,000
Allied Properties Real Estate Investment Trust
Units Connor, Gerald R. 4 20/08/2015 47 234,000 -476
Alloycorp Mining Inc. (formerly Avanti Mining Inc.)
Common Shares Bogden, Gordon Jack 4 20/08/2015 10 2,330,000 1,500,000
Almaden Minerals Ltd. Common Shares Brown, Mark Thomas 4 17/08/2015 10 0.8 20,000 10,000
Almaden Minerals Ltd. Common Shares Brown, Mark Thomas 4 19/08/2015 10 0.78 30,000 10,000
AltaGas Ltd. Options at $34.45 expiring August 17, 2021
Clements, Paul Carson 7 29/09/2014 00
AltaGas Ltd. Options at $34.45 expiring August 17, 2021
Clements, Paul Carson 7 17/08/2015 50 34.45 7,500 7,500
AltaGas Ltd. Options at $34.45 expiring August 17, 2021
Grant, Bradley, Bertram 5 19/05/2015 00
AltaGas Ltd. Options at $34.45 expiring August 17, 2021
Grant, Bradley, Bertram 5 17/08/2015 50 34.45 10,000 10,000
AltaGas Ltd. Common Shares Green, Jared Blake 5 17/08/2015 10 34.26 3,700 300
AltaGas Ltd. Common Shares Green, Jared Blake 5 17/08/2015 10 34.29 3,750 50
AltaGas Ltd. Options at $34.45 expiring August 17, 2021
LOWE, JOHN EDWARD 5 03/10/2011 00
AltaGas Ltd. Options at $34.45 expiring August 17, 2021
LOWE, JOHN EDWARD 5 17/08/2015 50 34.45 10,000 10,000
AltaGas Ltd. Options at $34.45 expiring August 17, 2021
O'Brien, John Dennis 5 01/05/2015 00
AltaGas Ltd. Options at $34.45 expiring August 17, 2021
O'Brien, John Dennis 5 17/08/2015 50 34.45 20,000 20,000
AltaGas Ltd. Options at $34.45 expiring August 17, 2021
Stout, Kent Eugene 5 01/07/2010 00
AltaGas Ltd. Options at $34.45 expiring August 17, 2021
Stout, Kent Eugene 5 17/08/2015 50 34.45 7,500 7,500
AltaGas Ltd. Options at $34.45 expiring August 17, 2021
Toivanen, Shaun William 5 10/01/2011 00
AltaGas Ltd. Options at $34.45 expiring August 17, 2021
Toivanen, Shaun William 5 17/08/2015 50 34.45 10,000 10,000
AltaGas Ltd. Options at $34.45 expiring August 17, 2021
Watson, Timothy, William 5 16/03/2015 00
AltaGas Ltd. Options at $34.45 expiring August 17, 2021
Watson, Timothy, William 5 17/08/2015 50 34.45 10,000 10,000
Altai Resources Inc. Common Shares AU, Maria Pui-Ching 5 17/08/2015 11 0.428 1,923,800 114,450
Alterra Power Corp. Options Braaten, Lyle 5 18/08/2015 50 0.51 421,213 151,300
Alterra Power Corp. Options Freeman, Lynda Diane 5 18/08/2015 50 0.51 1,126,748 270,000
Alterra Power Corp. Options Kroeker, Murray George 5 18/08/2015 50 993,650 270,000
Alterra Power Corp. Options Lindsay Murray 5 18/08/2015 50 0.51 462,718 146,235
Alterra Power Corp. Common Shares McInnes, Donald Arthur 4 17/08/2015 10 0.54 1,509,350 -50,000
Alterra Power Corp. Options Rapp, Paul Anthony 5 18/08/2015 50 1,287,947 330,000
Alterra Power Corp. Options Schintler, Jonathan 5 18/08/2015 50 717,316 330,000
Alterra Power Corp. Options Sutton, John Jay Kenneth 5 18/08/2015 50 0.51 1,882,756 400,000
Alterra Power Corp. Common Shares Webber, Shannon Dawn 5 20/05/2014 00
Alterra Power Corp. Options Webber, Shannon Dawn 5 20/05/2014 00
Alterra Power Corp. Options Webber, Shannon Dawn 5 18/08/2015 50 330,000 330,000
Altius Minerals Corporation Common Shares Winter, Stephen Lawrence 5 18/08/2015 10 13.4 58,230 3,000
Altus Group Limited Common Share Performance Share Units
Abramsky, Michael Hillel 5 13/12/2012 00
Altus Group Limited Common Share Performance Share Units
Abramsky, Michael Hillel 5 13/06/2014 56 10,727 10,727
Altus Group Limited Common Share Performance Share Units
Abramsky, Michael Hillel 5 07/01/2015 58 - Expiration of rights
10,509 -218
Altus Group Limited Common Share Performance Share Units
Abramsky, Michael Hillel 5 10/03/2015 56 8,631
Altus Group Limited Common Share Performance Share Units
Abramsky, Michael Hillel 5 10/03/2015 56 19,122 8,613
Altus Group Limited Common Shares Abramsky, Michael Hillel 5 13/06/2014 56 10,727
Insider Reporting
August 27, 2015
(2015), 38 OSCB 7404
Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Price
Date/Month End Holdings
Acquired/ Disposed
Altus Group Limited Common Shares Abramsky, Michael Hillel 5 13/06/2014 56 10,727
Altus Group Limited Common Shares Abramsky, Michael Hillel 5 13/06/2014 56 10,727
Altus Group Limited Common Shares Abramsky, Michael Hillel 5 07/01/2015 58 - Expiration of rights -218
Altus Group Limited Common Shares Abramsky, Michael Hillel 5 07/01/2015 58 - Expiration of rights -218
Altus Group Limited Common Shares Abramsky, Michael Hillel 5 07/01/2015 58 - Expiration of rights -218
Altus Group Limited Common Shares Abramsky, Michael Hillel 5 07/01/2015 58 - Expiration of rights -218
Altus Group Limited Common Shares Abramsky, Michael Hillel 5 10/03/2015 56 8,613
Altus Group Limited Common Shares Abramsky, Michael Hillel 5 10/03/2015 56 8,613
Altus Group Limited Common Shares Abramsky, Michael Hillel 5 10/03/2015 56 8,613
Altus Group Limited Common Share Performance Share Units
Bartolini, Angelo 5 19/05/2010 00
Altus Group Limited Common Share Performance Share Units
Bartolini, Angelo 5 13/06/2014 56 8,046 8,046
Altus Group Limited Common Share Performance Share Units
Bartolini, Angelo 5 07/01/2015 58 - Expiration of rights
7,883 -163
Altus Group Limited Common Share Performance Share Units
Bartolini, Angelo 5 10/03/2015 56 16,496 8,613
Altus Group Limited Common Shares Bartolini, Angelo 5 13/06/2014 56 8,046
Altus Group Limited Common Shares Bartolini, Angelo 5 13/06/2014 56 8,046
Altus Group Limited Common Shares Bartolini, Angelo 5 13/06/2014 56 8,046
Altus Group Limited Common Shares Bartolini, Angelo 5 07/01/2015 58 - Expiration of rights -163
Altus Group Limited Common Shares Bartolini, Angelo 5 07/01/2015 58 - Expiration of rights -163
Altus Group Limited Common Shares Bartolini, Angelo 5 07/01/2015 58 - Expiration of rights -163
Altus Group Limited Common Shares Bartolini, Angelo 5 10/03/2015 56 8,613
Altus Group Limited Common Shares Bartolini, Angelo 5 10/03/2015 56 8,613
Altus Group Limited Common Shares Bartolini, Angelo 5 10/03/2015 56 8,613
Altus Group Limited Common Share Performance Share Units
Chande, Narendra 5 01/04/2012 00
Altus Group Limited Common Share Performance Share Units
Chande, Narendra 5 13/06/2014 56 4,694 4,694
Altus Group Limited Common Share Performance Share Units
Chande, Narendra 5 07/01/2015 58 - Expiration of rights
4,599 -95
Altus Group Limited Common Share Performance Share Units
Chande, Narendra 5 10/03/2015 56 8,905 4,306
Altus Group Limited Common Shares Chande, Narendra 5 13/06/2014 56 4,694
Altus Group Limited Common Shares Chande, Narendra 5 13/06/2014 56 4,694
Altus Group Limited Common Shares Chande, Narendra 5 13/06/2014 56 4,694
Altus Group Limited Common Shares Chande, Narendra 5 07/01/2015 58 - Expiration of rights -95
Altus Group Limited Common Shares Chande, Narendra 5 07/01/2015 58 - Expiration of rights -95
Altus Group Limited Common Shares Chande, Narendra 5 07/01/2015 58 - Expiration of rights -95
Altus Group Limited Common Shares Chande, Narendra 5 10/03/2015 56 4,306
Altus Group Limited Common Shares Chande, Narendra 5 10/03/2015 56 4,306
Altus Group Limited Common Shares Chande, Narendra 5 10/03/2015 56 4,306
Altus Group Limited Common Share Performance Share Units
Commons, Michael 5 01/04/2012 00
Altus Group Limited Common Share Performance Share Units
Commons, Michael 5 13/06/2014 56 4,694 4,694
Altus Group Limited Common Share Performance Share Units
Commons, Michael 5 07/01/2015 58 - Expiration of rights
4,599 -95
Altus Group Limited Common Share Performance Share Units
Commons, Michael 5 10/03/2015 56 8,905 4,306
Altus Group Limited Common Shares Commons, Michael 5 13/06/2014 56 4,694
Altus Group Limited Common Shares Commons, Michael 5 13/06/2014 56 4,694
Altus Group Limited Common Shares Commons, Michael 5 13/06/2014 56 4,694
Altus Group Limited Common Shares Commons, Michael 5 07/01/2015 58 - Expiration of rights -95
Altus Group Limited Common Shares Commons, Michael 5 07/01/2015 58 - Expiration of rights -95
Altus Group Limited Common Shares Commons, Michael 5 07/01/2015 58 - Expiration of rights -95
Altus Group Limited Common Shares Commons, Michael 5 10/03/2015 56 4,306
Altus Group Limited Common Shares Commons, Michael 5 10/03/2015 56 4,306
Altus Group Limited Common Shares Commons, Michael 5 10/03/2015 56 4,306
Altus Group Limited Common Shares Commons, Michael 5 10/03/2015 56 4,306
Insider Reporting
August 27, 2015
(2015), 38 OSCB 7405
Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Price
Date/Month End Holdings
Acquired/ Disposed
Altus Group Limited Common Share Performance Share Units
COURTEAU, Robert G 4, 5 11/09/2012 00
Altus Group Limited Common Share Performance Share Units
COURTEAU, Robert G 4, 5 13/06/2014 56 55,311 55,311
Altus Group Limited Common Share Performance Share Units
COURTEAU, Robert G 4, 5 07/01/2015 58 - Expiration of rights 1,123
Altus Group Limited Common Share Performance Share Units
COURTEAU, Robert G 4, 5 07/01/2015 58 - Expiration of rights
54,188 -1,123
Altus Group Limited Common Share Performance Share Units
COURTEAU, Robert G 4, 5 10/03/2015 56 98,595 44,407
Altus Group Limited Common Shares COURTEAU, Robert G 4, 5 13/06/2014 56 55,311
Altus Group Limited Common Shares COURTEAU, Robert G 4, 5 13/06/2014 56 55,311
Altus Group Limited Common Shares COURTEAU, Robert G 4, 5 13/06/2014 56 55,311
Altus Group Limited Common Shares COURTEAU, Robert G 4, 5 07/01/2015 58 - Expiration of rights -1,123
Altus Group Limited Common Shares COURTEAU, Robert G 4, 5 07/01/2015 58 - Expiration of rights -1,123
Altus Group Limited Common Shares COURTEAU, Robert G 4, 5 07/01/2015 58 - Expiration of rights -1,123
Altus Group Limited Common Shares COURTEAU, Robert G 4, 5 10/03/2015 56 44,407
Altus Group Limited Common Shares COURTEAU, Robert G 4, 5 10/03/2015 56 44,407
Altus Group Limited Common Shares COURTEAU, Robert G 4, 5 10/03/2015 56 44,407
Altus Group Limited Common Share Performance Share Units
Derbyshire, Jim 5 01/01/2011 00
Altus Group Limited Common Share Performance Share Units
Derbyshire, Jim 5 13/06/2014 56 10,727 10,727
Altus Group Limited Common Share Performance Share Units
Derbyshire, Jim 5 07/01/2015 58 - Expiration of rights
10,509 -218
Altus Group Limited Common Share Performance Share Units
Derbyshire, Jim 5 10/03/2015 56 19,121 8,612
Altus Group Limited Common Shares Derbyshire, Jim 5 13/06/2014 56 10,727
Altus Group Limited Common Shares Derbyshire, Jim 5 13/06/2014 56 10,727
Altus Group Limited Common Shares Derbyshire, Jim 5 13/06/2014 56 10,727
Altus Group Limited Common Shares Derbyshire, Jim 5 07/01/2015 58 - Expiration of rights -218
Altus Group Limited Common Shares Derbyshire, Jim 5 07/01/2015 58 - Expiration of rights -218
Altus Group Limited Common Shares Derbyshire, Jim 5 07/01/2015 58 - Expiration of rights -218
Altus Group Limited Common Shares Derbyshire, Jim 5 10/03/2015 56 8,612
Altus Group Limited Common Shares Derbyshire, Jim 5 10/03/2015 56 8,612
Altus Group Limited Common Shares Derbyshire, Jim 5 10/03/2015 56 8,612
Altus Group Limited Common Share Performance Share Units
Eisen, Barry Isaac 5 01/01/2011 00
Altus Group Limited Common Share Performance Share Units
Eisen, Barry Isaac 5 13/06/2014 56 8,046 8,046
Altus Group Limited Common Share Performance Share Units
Eisen, Barry Isaac 5 07/01/2015 58 - Expiration of rights
7,883 -163
Altus Group Limited Common Share Performance Share Units
Eisen, Barry Isaac 5 10/03/2015 56 14,343 6,460
Altus Group Limited Common Shares Eisen, Barry Isaac 5 13/06/2014 56 8,046
Altus Group Limited Common Shares Eisen, Barry Isaac 5 13/06/2014 56 8,046
Altus Group Limited Common Shares Eisen, Barry Isaac 5 13/06/2014 56 8,046
Altus Group Limited Common Shares Eisen, Barry Isaac 5 07/01/2015 58 - Expiration of rights -163
Altus Group Limited Common Shares Eisen, Barry Isaac 5 07/01/2015 58 - Expiration of rights -163
Altus Group Limited Common Shares Eisen, Barry Isaac 5 07/01/2015 58 - Expiration of rights -163
Altus Group Limited Common Shares Eisen, Barry Isaac 5 10/03/2015 56 6,460
Altus Group Limited Common Shares Eisen, Barry Isaac 5 10/03/2015 56 6,460
Altus Group Limited Common Shares Eisen, Barry Isaac 5 10/03/2015 56 6,460
Altus Group Limited Common Share Performance Share Units
Gurnsey, David Lee 5 04/03/2015 00
Altus Group Limited Common Share Performance Share Units
Gurnsey, David Lee 5 10/03/2015 56 7,536 7,536
Altus Group Limited Common Shares Gurnsey, David Lee 5 10/03/2015 56 7,536
Altus Group Limited Common Shares Gurnsey, David Lee 5 10/03/2015 56 7,536
Altus Group Limited Common Shares Gurnsey, David Lee 5 10/03/2015 56 7,536
Altus Group Limited Common Share Performance Share Units
Johnston, Colin Boyd 5 22/02/2011 00
Insider Reporting
August 27, 2015
(2015), 38 OSCB 7406
Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Price
Date/Month End Holdings
Acquired/ Disposed
Altus Group Limited Common Share Performance Share Units
Johnston, Colin Boyd 5 13/06/2014 56 10,727 10,727
Altus Group Limited Common Share Performance Share Units
Johnston, Colin Boyd 5 07/01/2015 58 - Expiration of rights
10,509 -218
Altus Group Limited Common Share Performance Share Units
Johnston, Colin Boyd 5 10/03/2015 56 19,121 8,612
Altus Group Limited Common Shares Johnston, Colin Boyd 5 13/06/2014 56 10,727
Altus Group Limited Common Shares Johnston, Colin Boyd 5 13/06/2014 56 10,727
Altus Group Limited Common Shares Johnston, Colin Boyd 5 13/06/2014 56 10,727
Altus Group Limited Common Shares Johnston, Colin Boyd 5 07/01/2015 58 - Expiration of rights -218
Altus Group Limited Common Shares Johnston, Colin Boyd 5 07/01/2015 58 - Expiration of rights -218
Altus Group Limited Common Shares Johnston, Colin Boyd 5 07/01/2015 58 - Expiration of rights -218
Altus Group Limited Common Shares Johnston, Colin Boyd 5 10/03/2015 56 8,612
Altus Group Limited Common Shares Johnston, Colin Boyd 5 10/03/2015 56 8,612
Altus Group Limited Common Shares Johnston, Colin Boyd 5 10/03/2015 56 8,612
Altus Group Limited Common Share Performance Share Units
McSweeney, Niall 5 20/12/2011 00
Altus Group Limited Common Share Performance Share Units
McSweeney, Niall 5 13/06/2014 56 4,694 4,694
Altus Group Limited Common Share Performance Share Units
McSweeney, Niall 5 07/01/2015 58 - Expiration of rights
4,599 -95
Altus Group Limited Common Share Performance Share Units
McSweeney, Niall 5 10/03/2015 56 8,367 3,768
Altus Group Limited Common Shares McSweeney, Niall 5 13/06/2014 56 4,694
Altus Group Limited Common Shares McSweeney, Niall 5 13/06/2014 56 4,694
Altus Group Limited Common Shares McSweeney, Niall 5 13/06/2014 56 4,694
Altus Group Limited Common Shares McSweeney, Niall 5 07/01/2015 58 - Expiration of rights -95
Altus Group Limited Common Shares McSweeney, Niall 5 07/01/2015 58 - Expiration of rights -95
Altus Group Limited Common Shares McSweeney, Niall 5 07/01/2015 58 - Expiration of rights -95
Altus Group Limited Common Shares McSweeney, Niall 5 10/03/2015 56 3,768
Altus Group Limited Common Shares McSweeney, Niall 5 10/03/2015 56 3,768
Altus Group Limited Common Shares McSweeney, Niall 5 10/03/2015 56 3,768
Altus Group Limited Common Share Performance Share Units
Pasini, Flora Anna 5 01/02/2012 00
Altus Group Limited Common Share Performance Share Units
Pasini, Flora Anna 5 13/06/2014 56 5,028 5,028
Altus Group Limited Common Share Performance Share Units
Pasini, Flora Anna 5 07/01/2015 58 - Expiration of rights
4,926 -102
Altus Group Limited Common Share Performance Share Units
Pasini, Flora Anna 5 10/03/2015 56 8,963 4,037
Altus Group Limited Common Shares Pasini, Flora Anna 5 13/06/2014 56 5,028
Altus Group Limited Common Shares Pasini, Flora Anna 5 13/06/2014 56 5,028
Altus Group Limited Common Shares Pasini, Flora Anna 5 13/06/2014 56 5,028
Altus Group Limited Common Shares Pasini, Flora Anna 5 07/01/2015 58 - Expiration of rights -102
Altus Group Limited Common Shares Pasini, Flora Anna 5 07/01/2015 58 - Expiration of rights -102
Altus Group Limited Common Shares Pasini, Flora Anna 5 07/01/2015 58 - Expiration of rights -102
Altus Group Limited Common Shares Pasini, Flora Anna 5 10/03/2015 56 4,037
Altus Group Limited Common Shares Pasini, Flora Anna 5 10/03/2015 56 4,037
Altus Group Limited Common Shares Pasini, Flora Anna 5 10/03/2015 56 4,037
Altus Group Limited Common Shares Pasini, Flora Anna 5 10/03/2015 56 4,037
Altus Group Limited Common Share Performance Share Units
Probyn, Alex 7 01/07/2011 00
Altus Group Limited Common Share Performance Share Units
Probyn, Alex 7 13/06/2014 56 9,386 9,386
Altus Group Limited Common Share Performance Share Units
Probyn, Alex 7 07/01/2015 58 - Expiration of rights
9,196 -190
Altus Group Limited Common Share Performance Share Units
Probyn, Alex 7 10/03/2015 56 16,732 7,536
Altus Group Limited Common Shares Probyn, Alex 7 13/06/2014 56 9,386
Altus Group Limited Common Shares Probyn, Alex 7 13/06/2014 56 9,386
Altus Group Limited Common Shares Probyn, Alex 7 13/06/2014 56 9,386
Altus Group Limited Common Shares Probyn, Alex 7 07/01/2015 58 - Expiration of rights -190
Insider Reporting
August 27, 2015
(2015), 38 OSCB 7407
Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Price
Date/Month End Holdings
Acquired/ Disposed
Altus Group Limited Common Shares Probyn, Alex 7 07/01/2015 58 - Expiration of rights -190
Altus Group Limited Common Shares Probyn, Alex 7 07/01/2015 58 - Expiration of rights -190
Altus Group Limited Common Shares Probyn, Alex 7 10/03/2015 56 7,536
Altus Group Limited Common Shares Probyn, Alex 7 10/03/2015 56 7,536
Altus Group Limited Common Shares Probyn, Alex 7 10/03/2015 56 7,536
Altus Group Limited Common Share Performance Share Units
Ruggles III, Robert Knight 5 01/01/2011 00
Altus Group Limited Common Share Performance Share Units
Ruggles III, Robert Knight 5 13/06/2014 56 10,727 10,727
Altus Group Limited Common Share Performance Share Units
Ruggles III, Robert Knight 5 07/01/2015 58 - Expiration of rights
10,509 -218
Altus Group Limited Common Share Performance Share Units
Ruggles III, Robert Knight 5 10/03/2015 56 19,121 8,612
Altus Group Limited Common Shares Ruggles III, Robert Knight 5 13/06/2014 56 10,727
Altus Group Limited Common Shares Ruggles III, Robert Knight 5 13/06/2014 56 10,727
Altus Group Limited Common Shares Ruggles III, Robert Knight 5 13/06/2014 56 10,727
Altus Group Limited Common Shares Ruggles III, Robert Knight 5 07/01/2015 58 - Expiration of rights -218
Altus Group Limited Common Shares Ruggles III, Robert Knight 5 07/01/2015 58 - Expiration of rights -218
Altus Group Limited Common Shares Ruggles III, Robert Knight 5 07/01/2015 58 - Expiration of rights -218
Altus Group Limited Common Shares Ruggles III, Robert Knight 5 10/03/2015 56 8,612
Altus Group Limited Common Shares Ruggles III, Robert Knight 5 10/03/2015 56 8,612
Altus Group Limited Common Shares Ruggles III, Robert Knight 5 10/03/2015 56 8,612
Altus Group Limited Common Share Performance Share Units
Turrin, Liana 5 26/09/2011 00
Altus Group Limited Common Share Performance Share Units
Turrin, Liana 5 13/06/2014 56 8,046 8,046
Altus Group Limited Common Share Performance Share Units
Turrin, Liana 5 07/01/2015 58 - Expiration of rights
7,883 -163
Altus Group Limited Common Share Performance Share Units
Turrin, Liana 5 10/03/2015 56 14,343 6,460
Altus Group Limited Common Shares Turrin, Liana 5 13/06/2014 56 8,046
Altus Group Limited Common Shares Turrin, Liana 5 13/06/2014 56 8,046
Altus Group Limited Common Shares Turrin, Liana 5 13/06/2014 56 8,046
Altus Group Limited Common Shares Turrin, Liana 5 07/01/2015 58 - Expiration of rights -163
Altus Group Limited Common Shares Turrin, Liana 5 07/01/2015 58 - Expiration of rights -163
Altus Group Limited Common Shares Turrin, Liana 5 07/01/2015 58 - Expiration of rights -163
Altus Group Limited Common Shares Turrin, Liana 5 10/03/2015 56 6,460
Altus Group Limited Common Shares Turrin, Liana 5 10/03/2015 56 6,460
Altus Group Limited Common Shares Turrin, Liana 5 10/03/2015 56 6,460
Americas Silver Corporation Common Shares Davidson, Alexander John 4 20/08/2015 10 0.175 413,532 -10,500
Americas Silver Corporation Common Shares Davidson, Alexander John 4 20/08/2015 10 0.17 332,472 -81,060
Anderson Energy Inc. Options Chicoine, Blaine Morris 5 20/08/2015 52 1,139,100 -200,100
Anderson Energy Inc. Options Dau, Brian Harold 4, 5 20/08/2015 52 1,712,400 -300,000
Anderson Energy Inc. Options Fong, Christopher Lee 4 20/08/2015 52 220,300 -50,100
Anderson Energy Inc. Options Harvey, Philip Andrew 5 20/08/2015 52 1,139,100 -200,100
Anderson Energy Inc. Options SANDMEYER, DAVID JAMES
4 20/08/2015 52 220,300 -25,050
Anderson Energy Inc. Options Spyker, David Michael 5 21/08/2015 52 1,422,000 -249,900
Anderson Energy Inc. Options Wong, Mary Darlene 5 20/08/2015 52 1,422,000 -249,900
Andrew Peller Limited (formerly Andrés Wines Ltd.)
Non-Voting Shares Class A
COVERT, LORI CONSTANCE
4 28/08/2007 99 -500
Andrew Peller Limited (formerly Andrés Wines Ltd.)
Non-Voting Shares Class A
COVERT, LORI CONSTANCE
4 28/08/2007 99 -500
Andrew Peller Limited (formerly Andrés Wines Ltd.)
Non-Voting Shares Class A
COVERT, LORI CONSTANCE
4 28/08/2007 10 3,250 -500
Andrew Peller Limited (formerly Andrés Wines Ltd.)
Non-Voting Shares Class A
COVERT, LORI CONSTANCE
4 15/11/2007 99 -1,000
Andrew Peller Limited (formerly Andrés Wines Ltd.)
Non-Voting Shares Class A
COVERT, LORI CONSTANCE
4 15/11/2007 99 -1,000
Andrew Peller Limited (formerly Andrés Wines Ltd.)
Non-Voting Shares Class A
COVERT, LORI CONSTANCE
4 15/11/2007 10 2,250 -1,000
Insider Reporting
August 27, 2015
(2015), 38 OSCB 7408
Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Price
Date/Month End Holdings
Acquired/ Disposed
Andrew Peller Limited (formerly Andrés Wines Ltd.)
Non-Voting Shares Class A
COVERT, LORI CONSTANCE
4 16/10/2008 99 -2,000
Andrew Peller Limited (formerly Andrés Wines Ltd.)
Non-Voting Shares Class A
COVERT, LORI CONSTANCE
4 16/10/2008 99 -2,000
Andrew Peller Limited (formerly Andrés Wines Ltd.)
Non-Voting Shares Class A
COVERT, LORI CONSTANCE
4 16/10/2008 10 250 -2,000
Andrew Peller Limited (formerly Andrés Wines Ltd.)
Class B Voting Shares Kernaghan, Edward James 3 17/08/2015 10 21 329,400 -700
Andrew Peller Limited (formerly Andrés Wines Ltd.)
Non-Voting Shares Class A
Kernaghan, Edward James 3 14/08/2015 10 18.4 1,461,800 -500
Ansar Financial and Development Corporation
Common Shares Jalaluddin, Mohammed 3, 4, 5 14/08/2015 10 1 598,574 -14,000
Ansar Financial and Development Corporation
Common Shares Nasim, Pervez 3, 4, 5 14/08/2015 10 1 598,574 -14,000
ARC Resources Ltd. Common Shares Carey, David Paul 5 20/08/2015 10 17 148,398 2,000
ARC Resources Ltd. Common Shares Stadnyk, Myron Maurice 4, 5 21/08/2015 10 16.95 54,025 25,000
Arctic Star Exploration Corp. Common Shares Power, Patrick Edward 4, 5 19/08/2015 10 0.025 4,377,866 1,000
Arsenal Energy Inc. Common Shares Mitchell, Bruce 3 19/08/2015 10 1.4 2,703,970 354,700
Arsenal Energy Inc. Common Shares Petrie, Derek 4 14/08/2015 10 2.048 89,952 2,300
Arsenal Energy Inc. Common Shares Petrie, Derek 4 14/08/2015 10 2.05 167,007 4,200
Artis Real Estate Investment Trust
Restricted Units Green, James 5 14/08/2015 56 13.14 36,160 25
Artis Real Estate Investment Trust
Restricted Units Green, James 5 14/08/2015 56 13.14 36,184 24
Artis Real Estate Investment Trust
Restricted Units Green, James 5 14/08/2015 56 13.14 36,312 128
Artis Real Estate Investment Trust
Restricted Units Green, James 5 14/08/2015 56 13.14 36,334 22
Artis Real Estate Investment Trust
Restricted Units Green, James 5 14/08/2015 56 13.14 36,355 21
Artis Real Estate Investment Trust
Restricted Units Green, James 5 14/08/2015 56 13.14 36,383 28
Artis Real Estate Investment Trust
Restricted Units Johnson, David Lyall 5 14/08/2015 56 13.14 4,054 4
Artis Real Estate Investment Trust
Restricted Units Johnson, David Lyall 5 14/08/2015 56 13.14 4,059 5
Artis Real Estate Investment Trust
Restricted Units Johnson, David Lyall 5 14/08/2015 56 13.14 4,064 5
Artis Real Estate Investment Trust
Restricted Units Johnson, David Lyall 5 14/08/2015 56 13.14 4,068 4
Artis Real Estate Investment Trust
Restricted Units Johnson, David Lyall 5 14/08/2015 56 13.14 4,072 4
Artis Real Estate Investment Trust
Restricted Units Johnson, David Lyall 5 14/08/2015 56 13.14 4,078 6
Artis Real Estate Investment Trust
Restricted Units Martens, Armin 4, 5 14/08/2015 56 13.14 151,501 165
Artis Real Estate Investment Trust
Restricted Units Martens, Armin 4, 5 14/08/2015 56 13.14 151,565 64
Artis Real Estate Investment Trust
Restricted Units Martens, Armin 4, 5 14/08/2015 56 13.14 152,187 622
Artis Real Estate Investment Trust
Restricted Units Martens, Armin 4, 5 14/08/2015 56 13.14 152,246 59
Artis Real Estate Investment Trust
Restricted Units Martens, Armin 4, 5 14/08/2015 56 13.14 152,303 57
Artis Real Estate Investment Trust
Restricted Units Martens, Armin 4, 5 14/08/2015 56 13.14 152,372 69
Artis Real Estate Investment Trust
Deferred Units Ryan, Patrick Gowan 4 14/08/2015 56 13.14 6,678 13
Artis Real Estate Investment Trust
Deferred Units Ryan, Patrick Gowan 4 14/08/2015 56 13.14 6,691 13
Artis Real Estate Investment Trust
Deferred Units Ryan, Patrick Gowan 4 14/08/2015 56 13.14 6,700 9
Artis Real Estate Investment Trust
Deferred Units Ryan, Patrick Gowan 4 14/08/2015 56 13.14 6,711 11
Artis Real Estate Investment Trust
Restricted Units Sherlock, Stephen Francis Patrick
5 14/08/2015 56 13.14 4,054 4
Insider Reporting
August 27, 2015
(2015), 38 OSCB 7409
Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Price
Date/Month End Holdings
Acquired/ Disposed
Artis Real Estate Investment Trust
Restricted Units Sherlock, Stephen Francis Patrick
5 14/08/2015 56 13.14 4,059 5
Artis Real Estate Investment Trust
Restricted Units Sherlock, Stephen Francis Patrick
5 14/08/2015 56 13.14 4,064 5
Artis Real Estate Investment Trust
Restricted Units Sherlock, Stephen Francis Patrick
5 14/08/2015 56 13.14 4,068 4
Artis Real Estate Investment Trust
Restricted Units Sherlock, Stephen Francis Patrick
5 14/08/2015 56 13.14 4,072 4
Artis Real Estate Investment Trust
Restricted Units Sherlock, Stephen Francis Patrick
5 14/08/2015 56 13.14 4,078 6
Artis Real Estate Investment Trust
Restricted Units Wong, Dennis San 5 14/08/2015 56 13.14 4,673 4
Artis Real Estate Investment Trust
Restricted Units Wong, Dennis San 5 14/08/2015 56 13.14 4,678 5
Artis Real Estate Investment Trust
Restricted Units Wong, Dennis San 5 14/08/2015 56 13.14 4,683 5
Artis Real Estate Investment Trust
Restricted Units Wong, Dennis San 5 14/08/2015 56 13.14 4,687 4
Artis Real Estate Investment Trust
Restricted Units Wong, Dennis San 5 14/08/2015 56 13.14 4,694 7
Artis Real Estate Investment Trust
Restricted Units Wong, Dennis San 5 14/08/2015 56 13.14 4,701 7
Asean Energy Corp. (formerly, Rift Basin Resources Corp.)
Common Shares van Santen, Robert Jacob 4, 5 14/08/2015 10 0.06 5,000
Asean Energy Corp. (formerly, Rift Basin Resources Corp.)
Common Shares van Santen, Robert Jacob 4, 5 14/08/2015 10 0.06 63,750 5,000
Asean Energy Corp. (formerly, Rift Basin Resources Corp.)
Warrants van Santen, Robert Jacob 4, 5 24/09/2014 55 -600,000
Asean Energy Corp. (formerly, Rift Basin Resources Corp.)
Warrants van Santen, Robert Jacob 4, 5 24/09/2014 55 0 -600,000
ATCO LTD. Non-Voting Shares Class I Urwin, Roger J. 4 17/08/2015 10 40.059 4,017 3,250
Atlantic Power Corporation Common Shares Howell, Kevin 4 17/08/2015 10 2.35 40,000 10,000
Atlantic Power Corporation Common Shares Moore, James J. 4, 5 19/08/2015 10 2.2 220,253 20,000
Atlantic Power Corporation Common Shares Moore, James J. 4, 5 20/08/2015 10 2.2 230,253 10,000
Atlantic Power Corporation Common Shares Moore, James J. 4, 5 20/08/2015 10 2.19 240,253 10,000
Atlantic Power Corporation Common Shares Palter, Gilbert Samuel 4 13/08/2015 10 2.2563 195,000 25,000
Atlantic Power Corporation Common Shares Palter, Gilbert Samuel 4 14/08/2015 10 2.9752 210,700 15,700
Atlantic Power Corporation Common Shares Palter, Gilbert Samuel 4 17/08/2015 10 2.9752 213,200 2,500
Atlantic Power Corporation Common Shares Palter, Gilbert Samuel 4 18/08/2015 10 3.0373 225,000 11,800
Atlantic Power Corporation Common Shares Palter, Gilbert Samuel 4 18/08/2015 10 2.31 230,000 5,000
Augustine Ventures Inc. Common Shares Newman, G. Michael 4 17/08/2015 10 0.06 2,025,385 20,000
Aurinia Pharmaceuticals Inc. Options Bourgeault, Dennis 5 17/08/2015 50 4.45 270,776 93,337
Aurinia Pharmaceuticals Inc. Options Huizinga, Robert 5 17/08/2015 50 4.45 152,537 31,529
Aurinia Pharmaceuticals Inc. Options Zaruby, Stephen Walter 5 17/08/2015 50 4.45 1,190,717 191,283
Aurora Cannabis Inc. (formerly Prescient Mining Corp.)
Options Szweras, Adam Kelley 4 10/08/2015 00
Aurora Cannabis Inc. (formerly Prescient Mining Corp.)
Options Szweras, Adam Kelley 4 10/08/2015 50 350,000 350,000
Avigilon Corporation Common Shares McKnight, Michael Thomas 4 17/08/2015 10 14.48 71,490 5,000
Avnel Gold Mining Limited Options Kearney, John Francis 4 19/08/2015 52 700,000 -99,000
Axia NetMedia Corporation Common Shares Barrett, Cameron 5 11/08/2015 00 1,403
Axia NetMedia Corporation Options Barrett, Cameron 5 11/08/2015 00
Axia NetMedia Corporation Options Barrett, Cameron 5 11/08/2015 00
Axia NetMedia Corporation Options Barrett, Cameron 5 11/08/2015 00
Axia NetMedia Corporation Restricted Share Units Barrett, Cameron 5 11/08/2015 00 23,106
Azarga Uranium Corp. Common Shares Blubaugh, Richard 7, 5 19/07/2006 00
Azarga Uranium Corp. Common Shares Blubaugh, Richard 7, 5 14/08/2015 46 0.6 41,009 41,009
Azarga Uranium Corp. Common Shares Church, Curtis 6 14/08/2015 46 0.6 7,153,698 27,448
Insider Reporting
August 27, 2015
(2015), 38 OSCB 7410
Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Price
Date/Month End Holdings
Acquired/ Disposed
Azarga Uranium Corp. Common Shares Clement Jr., Richard F. 4, 5 14/08/2015 46 0.38 62,500 62,500
Azarga Uranium Corp. Common Shares MAYS, JOHN 5 14/08/2015 46 0.6 50,164 50,164
Azarga Uranium Corp. Common Shares MAYS, JOHN 5 14/08/2015 46 0.38 175,164 125,000
Azarga Uranium Corp. Common Shares Molyneux, Alexander 6 14/08/2015 46 0.6 8,646,257 38,427
Azarga Uranium Corp. Common Shares O'Kane, Matthew James Gerard
6 14/08/2015 46 0.38 142,289 125,000
Azarga Uranium Corp. Common Shares Steele, Blake Albert 5 14/08/2015 46 0.65 651,250 27,192
Azarga Uranium Corp. Common Shares Steele, Blake Albert 5 14/08/2015 46 0.38 1,026,250 375,000
Baja Mining Corp. Common Shares Dreisinger, David Bruce 5 14/08/2015 10 300,000 -100,000
Bank of Montreal Deferred Share Units Ares, Jean-Michel 5 03/08/2015 35 77.86 33,197 346
Bank of Montreal Deferred Share Units Begy, Christopher Blake 5 03/08/2015 35 77.86 18,430 192
Bank of Montreal Deferred Share Units Casper, David Robert 5 03/08/2015 35 77.86 10,911 114
Bank of Montreal Deferred Share Units Dousmanis-Curtis, Alexandra
5 03/08/2015 35 77.86 3,653 38
Bank of Montreal Deferred Share Units Downe, William 7, 5 03/08/2015 35 77.86 310,208 3,233
Bank of Montreal Deferred Share Units Fish, Simon Adrian 5 03/08/2015 35 77.86 20,495 214
Bank of Montreal Deferred Share Units Flynn, Thomas Earl 7 03/08/2015 35 77.86 17,248 180
Bank of Montreal Deferred Share Units Fowler, Cameron McAskile 5 03/08/2015 35 77.86 3,226 34
Bank of Montreal Deferred Share Units Ouellette, Gilles Gerard 5 03/08/2015 35 77.86 158,465 1,651
Bank of Montreal Deferred Share Units Rajpal, Surjit 5 03/08/2015 35 77.86 25,769 268
Bank of Montreal Deferred Share Units Rudderham, Richard D. 5 03/08/2015 35 77.86 45,143 470
Bank of Montreal Deferred Share Units Techar, Frank J. 5 03/08/2015 35 77.86 115,647 1,205
Bankers Petroleum Ltd. Common Shares Brown, Eric 4 17/08/2015 10 2.21 51,572 -15,000
Bankers Petroleum Ltd. Common Shares Brown, Eric 4 17/08/2015 10 2.21 32,508 -5,000
Banyan Gold Corp. (Formerly Banyan Coast Capital Corp.)
Options Graham, Richmond Edward Mayson
4 11/08/2015 50 0.05 283,350 75,000
Baylin Technologies Inc. Deferred Share Units Day, Stockwell 4 13/08/2015 56 8 17,246 5,000
Baylin Technologies Inc. Deferred Share Units Jones, Douglas Aubrey 4 13/08/2015 56 8 17,246 5,000
Baylin Technologies Inc. Deferred Share Units Reiter, Barry 4 13/08/2015 56 8 27,363 5,000
Baylin Technologies Inc. Common Shares Royer, Jeffrey 3, 4 19/08/2015 10 1.5199 633,800 566,400
Baylin Technologies Inc. Deferred Share Units SIMMONDS, DONALD E. 4 13/08/2015 56 8 17,246 5,000
Baylin Technologies Inc. Deferred Share Units Wolkin, Harold Morton 4 13/08/2015 56 8 21,325 5,000
Benton Resources Inc. Common Shares Stares, Stephen 4 17/08/2015 10 0.045 535,750 50,000
Berkley Renewables Inc. Common Shares Wayrynen, Matt 4 17/08/2015 10 0.07 1,273,300 1,500
Berkley Renewables Inc. Common Shares Wayrynen, Matt 4 18/08/2015 10 0.07 1,273,700 400
Big Rock Brewery Inc. Common Shares Noone, Patrick Donnell 4 18/08/2015 10 6.25 1,271,100 9,900
Big Rock Brewery Inc. Common Shares Noone, Patrick Donnell 4 19/08/2015 10 6.25 1,271,500 400
Big Rock Brewery Inc. Common Shares Noone, Patrick Donnell 4 20/08/2015 10 6.2039 1,275,300 3,800
Big Rock Brewery Inc. Common Shares Noone, Patrick Donnell 4 21/08/2015 10 6.3 1,275,500 200
Big Rock Labs Inc. Common Shares Seemann, Harald 4 21/08/2015 10 0.401 11,190,202 500
Big Rock Labs Inc. Common Shares Seemann, Harald 4 21/08/2015 10 0.409 11,195,202 5,000
Big Rock Labs Inc. Common Shares Seemann, Harald 4 21/08/2015 10 0.399 11,205,202 10,000
BIOflex Technologies Inc. (formerly Ovid Capital Ventures Inc.)
Common Shares BIOflex Medical Magnetics, Inc.
3 18/08/2015 00 17,225,000
BIOflex Technologies Inc. (formerly Ovid Capital Ventures Inc.)
Options BIOflex Medical Magnetics, Inc.
3 18/08/2015 00
BIOflex Technologies Inc. (formerly Ovid Capital Ventures Inc.)
Warrants BIOflex Medical Magnetics, Inc.
3 18/08/2015 00
BIOflex Technologies Inc. (formerly Ovid Capital Ventures Inc.)
Common Shares Cockburn, Wayne 4, 6, 5 18/08/2015 00
BIOflex Technologies Inc. (formerly Ovid Capital Ventures Inc.)
Options Cockburn, Wayne 4, 6, 5 18/08/2015 00
BIOflex Technologies Inc. (formerly Ovid Capital Ventures Inc.)
Warrants Cockburn, Wayne 4, 6, 5 18/08/2015 00
BIOflex Technologies Inc. (formerly Ovid Capital Ventures Inc.)
Common Shares Godin, André 4 07/08/2015 16 0.1125 350,000 250,000
Insider Reporting
August 27, 2015
(2015), 38 OSCB 7411
Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Price
Date/Month End Holdings
Acquired/ Disposed
BIOflex Technologies Inc. (formerly Ovid Capital Ventures Inc.)
Warrants Godin, André 4 13/12/2012 00
BIOflex Technologies Inc. (formerly Ovid Capital Ventures Inc.)
Warrants Godin, André 4 07/08/2015 16 250,000 250,000
BIOflex Technologies Inc. (formerly Ovid Capital Ventures Inc.)
Common Shares Godin, André 4, 5 19/08/2015 00 350,000
BIOflex Technologies Inc. (formerly Ovid Capital Ventures Inc.)
Options Godin, André 4, 5 19/08/2015 00 180,000
BIOflex Technologies Inc. (formerly Ovid Capital Ventures Inc.)
Warrants Godin, André 4, 5 19/08/2015 00 250,000
BIOflex Technologies Inc. (formerly Ovid Capital Ventures Inc.)
Common Shares Zablotsky, Charles 6, 5 18/08/2015 00
BIOflex Technologies Inc. (formerly Ovid Capital Ventures Inc.)
Options Zablotsky, Charles 6, 5 18/08/2015 00
BIOflex Technologies Inc. (formerly Ovid Capital Ventures Inc.)
Warrants Zablotsky, Charles 6, 5 18/08/2015 00
BioSyent Inc. Common Shares - Options van der Mark, Joost 5 17/08/2015 00 7,396
BIOTEQ ENVIRONMENTAL TECHNOLOGIES INC.
Common Shares Tingley, Hall 3 19/08/2015 10 0.025 9,918,726 5,000
BIOTEQ ENVIRONMENTAL TECHNOLOGIES INC.
Common Shares Tingley, Hall 3 21/08/2015 10 0.025 9,957,726 39,000
Birchcliff Energy Ltd. Preferred Shares Series A Preferred Shares
Surbey, James William 5 17/08/2015 10 23.12 27,000 1,000
Bird Construction Inc. Common Shares Boyd, Ian Jeffrey 4, 5 01/01/2011 00
Bird Construction Inc. Common Shares Boyd, Ian Jeffrey 4, 5 01/01/2011 00 5,985
Bird Construction Inc. MTIP - Phantom Shares Boyd, Ian Jeffrey 4, 5 20/08/2015 35 43,210 246
Bird Construction Inc. MTIP - Phantom Shares Brennan, James Joseph 5 20/08/2015 35 36,957 211
Bird Construction Inc. MTIP - Phantom Shares CAZA, Charles Joseph 5 20/08/2015 35 17,070 97
Bird Construction Inc. Rights Deferred Share Units
Doyle, Donald Gregory 4 20/08/2015 35 16,562 92
Bird Construction Inc. Rights Deferred Share Units
DuPont, Bonnie Dianne Rose
4 20/08/2015 35 15,513 86
Bird Construction Inc. MTIP - Phantom Shares Entwistle, Stephen Robert 5 20/08/2015 35 13,042 74
Bird Construction Inc. MTIP - Phantom Shares McClure, Kenneth William 5 20/08/2015 35 35,389 202
Bird Construction Inc. Rights Deferred Share Units
Munkley, Ronald David 4 20/08/2015 35 12,812 71
Bird Construction Inc. MTIP - Phantom Shares Raboud, Paul Robert 4 20/08/2015 35 34,403 196
Bird Construction Inc. MTIP - Phantom Shares ROYER, GILLES GERALD 5 20/08/2015 35 53,897 307
Bird Construction Inc. Rights Deferred Share Units
Thorsteinson, Arni Clayton 4 20/08/2015 35 13,000 72
Black Diamond Group Limited
Common Shares Haynes, Trevor 4, 5 14/08/2015 10 10.8 863,564 5,000
Black Diamond Group Limited
Common Shares Haynes, Trevor 4, 5 17/08/2015 10 9.98 1,657,333 5,000
Black Diamond Group Limited
Common Shares Haynes, Trevor 4, 5 18/08/2015 10 9.8 1,659,833 2,500
Black Diamond Group Limited
Common Shares Haynes, Trevor 4, 5 21/08/2015 10 9 1,664,833 5,000
BlackBerry Limited (formerly Research In Motion Limited)
Common Shares Chennakeshu, Sandeep 5 18/08/2014 00
BlackBerry Limited (formerly Research In Motion Limited)
Common Shares Chennakeshu, Sandeep 5 18/08/2015 57 7.57 221,239
BlackBerry Limited (formerly Research In Motion Limited)
Common Shares Chennakeshu, Sandeep 5 18/08/2015 57 7.57 221,239
BlackBerry Limited (formerly Research In Motion Limited)
Common Shares Chennakeshu, Sandeep 5 18/08/2015 57 7.57 221,239 221,239
BlackBerry Limited (formerly Research In Motion Limited)
Common Shares Chennakeshu, Sandeep 5 18/08/2015 10 7.4123 120,259 -100,980
Insider Reporting
August 27, 2015
(2015), 38 OSCB 7412
Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Price
Date/Month End Holdings
Acquired/ Disposed
BlackBerry Limited (formerly Research In Motion Limited)
Restricted Share Units Chennakeshu, Sandeep 5 18/08/2015 57 7.57 1,579,639 -221,239
Blackline Safety Corp. Common Shares Slater, Cody 4 17/08/2015 10 1.7 1,027,778 5,000
Blackline Safety Corp. Common Shares Slater, Cody 4 18/08/2015 10 1.7 1,029,778 2,000
Blackline Safety Corp. Common Shares Slater, Cody 4 19/08/2015 10 1.64 1,029,978 200
Blackline Safety Corp. Common Shares Slater, Cody 4 20/08/2015 10 1.7 1,032,378 2,400
Boardwalk Real Estate Investment Trust
Deferred Units (Convert to TU and/or cash)
Burns, Patrick Dean 5 30/06/2015 30 57.72 -1,177
Boardwalk Real Estate Investment Trust
Deferred Units (Convert to TU and/or cash)
Burns, Patrick Dean 5 30/06/2015 30 57.72 -1,177
Boardwalk Real Estate Investment Trust
Trust Units Burns, Patrick Dean 5 30/06/2015 30 57.72 1,177
Boardwalk Real Estate Investment Trust
Trust Units Burns, Patrick Dean 5 30/06/2015 30 57.72 1,177
Boardwalk Real Estate Investment Trust
Deferred Units (Convert to TU and/or cash)
Chidley, William Glenn 5 30/06/2015 30 57.72 -1,578
Boardwalk Real Estate Investment Trust
Deferred Units (Convert to TU and/or cash)
Chidley, William Glenn 5 30/06/2015 30 57.72 -1,578
Boardwalk Real Estate Investment Trust
Trust Units Chidley, William Glenn 5 30/06/2015 30 57.72 1,578
Boardwalk Real Estate Investment Trust
Trust Units Chidley, William Glenn 5 30/06/2015 30 57.72 1,578
Bombardier Inc. Deferred Stock Units/Unités d'actions différées
Alary, Pierre 5 14/08/2015 97 516,223 -183,655
Bombardier Inc. Options Alary, Pierre 5 20/08/2015 52 1,310,813 -135,000
Bombardier Inc. Options Allmer, Per 5 20/08/2015 52 756,357 -12,000
Bombardier Inc. Performance Share Units/Unites d'actions liees au rendement
Allmer, Per 5 14/08/2015 97 81,781 -34,894
Bombardier Inc. Deferred Stock Units/Unités d'actions différées
Attendu, Pierre 7 14/08/2015 97 200,840 -55,096
Bombardier Inc. Options Attendu, Pierre 7 20/08/2015 52 813,714 -60,000
Bombardier Inc. Options Bachant, Raymond 5 20/08/2015 52 1,132,411 -90,000
Bombardier Inc. Deferred Stock Units/Unités d'actions différées
Beaudoin, Pierre 4, 5 14/08/2015 97 2,012,139 -668,503
Bombardier Inc. Options Beaudoin, Pierre 4, 5 20/08/2015 52 9,536,499 -720,000
Bombardier Inc. Deferred Stock Units/Unités d'actions différées
Caza, François 5 14/08/2015 97 19,246 -30,303
Bombardier Inc. Options Caza, François 5 20/08/2015 52 934,889 -25,000
Bombardier Inc. Deferred Stock Units/Unités d'actions différées
Cedervall, Peter John Olov 5 14/08/2015 97 61,229 -36,731
Bombardier Inc. Options Desjardins, Daniel 5 20/08/2015 52 2,102,004 -90,000
Bombardier Inc. Options Di Bert, John 5 10/08/2015 00
Bombardier Inc. Options Di Bert, John 5 10/08/2015 50 4,362,858 4,362,858
Bombardier Inc. Restricted Share Units/Unités d'actions incessibles
Di Bert, John 5 10/08/2015 00
Bombardier Inc. Restricted Share Units/Unités d'actions incessibles
Di Bert, John 5 10/08/2015 56 2.21 226,245 226,245
Bombardier Inc. Restricted Share Units/Unités d'actions incessibles
Di Bert, John 5 10/08/2015 56 1.59 477,817 251,572
Bombardier Inc. Performance Share Units/Unites d'actions liees au rendement
Hunter, Richard 5 14/08/2015 97 52,809 -24,793
Bombardier Inc. Deferred Stock Units/Unités d'actions différées
Macdonald, John Paul 5 14/08/2015 97 329,088 -123,967
Bombardier Inc. Options Macdonald, John Paul 5 20/08/2015 52 2,084,004 -70,000
Bombardier Inc. Options Seguin, Jean 5 20/08/2015 52 1,496,916 -70,000
Insider Reporting
August 27, 2015
(2015), 38 OSCB 7413
Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Price
Date/Month End Holdings
Acquired/ Disposed
Bombardier Inc. Performance Share Units/Unites d'actions liees au rendement
Seguin, Jean 5 14/08/2015 97 58,060 -66,116
Bonavista Energy Corporation
Common Shares MacPhail, Keith A.J. 4, 5 19/08/2015 10 3.78 4,662,736 37,000
Bonavista Energy Corporation
Common Shares MacPhail, Keith A.J. 4, 5 20/08/2015 10 3.62 4,695,736 33,000
Boomerang Oil, Inc. Common Shares Mondial Ventures Inc. 3 13/08/2015 11 39,655,000 -2,000,000
Boston Pizza Royalties Income Fund
Units Bews, Wes 5 20/08/2015 10 17.69 18,340 1,100
Boston Pizza Royalties Income Fund
Units Boston Pizza Royalties Income Fund
1 21/08/2015 38 17.138 5,900 5,900
Boston Pizza Royalties Income Fund
Units Brown, William C 4, 5 24/03/2003 00
Boston Pizza Royalties Income Fund
Units Brown, William C 4, 5 24/03/2003 00
Boston Pizza Royalties Income Fund
Units Brown, William C 4, 5 28/05/2008 10 12.171 147
Boston Pizza Royalties Income Fund
Units Brown, William C 4, 5 17/11/2014 10 21.99 49
Boston Pizza Royalties Income Fund
Units Brown, William C 4, 5 24/03/2003 00
Boston Pizza Royalties Income Fund
Units Brown, William C 4, 5 24/03/2003 00
Boston Pizza Royalties Income Fund
Units Brown, William C 4, 5 28/05/2008 10 12.18 165
Boston Pizza Royalties Income Fund
Units Brown, William C 4, 5 17/11/2014 10 21.99 95
Boston Pizza Royalties Income Fund
Units Brown, William C 4, 5 24/03/2003 00
Boston Pizza Royalties Income Fund
Units Brown, William C 4, 5 24/03/2003 00
Boston Pizza Royalties Income Fund
Units Brown, William C 4, 5 24/03/2003 00
Boston Pizza Royalties Income Fund
Units Brown, William C 4, 5 24/03/2003 00
Boston Pizza Royalties Income Fund
Units Brown, William C 4, 5 24/03/2003 00
Boston Pizza Royalties Income Fund
Units Brown, William C 4, 5 24/03/2003 00
Boston Pizza Royalties Income Fund
Units Brown, William C 4, 5 28/05/2008 10 12.174 700
Boston Pizza Royalties Income Fund
Units Brown, William C 4, 5 05/09/2013 10 22.87 169
Boston Pizza Royalties Income Fund
Units Brown, William C 4, 5 24/03/2003 00
Boston Pizza Royalties Income Fund
Units Brown, William C 4, 5 24/03/2003 00
Boston Pizza Royalties Income Fund
Units Brown, William C 4, 5 28/05/2008 10 12.18 281
Boston Pizza Royalties Income Fund
Units Brown, William C 4, 5 24/03/2003 00
Boston Pizza Royalties Income Fund
Units Brown, William C 4, 5 24/03/2003 00
Boston Pizza Royalties Income Fund
Units Brown, William C 4, 5 30/09/2008 10 10.12 188
Boston Pizza Royalties Income Fund
Units Brown, William C 4, 5 17/09/2009 10 10.15 550
Boston Pizza Royalties Income Fund
Units Brown, William C 4, 5 31/03/2010 10 11.78 500
Boston Pizza Royalties Income Fund
Units Brown, William C 4, 5 31/03/2010 10 11.79 107
Boston Pizza Royalties Income Fund
Units Brown, William C 4, 5 05/09/2013 10 22.86 200
Boston Pizza Royalties Income Fund
Units Brown, William C 4, 5 05/09/2013 10 22.87 200
Insider Reporting
August 27, 2015
(2015), 38 OSCB 7414
Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Price
Date/Month End Holdings
Acquired/ Disposed
Boston Pizza Royalties Income Fund
Units Brown, William C 4, 5 17/11/2014 10 21.997 319
Boston Pizza Royalties Income Fund
Units Brown, William C 4, 5 28/05/2008 10 12.174 700
Boston Pizza Royalties Income Fund
Units Brown, William C 4, 5 28/05/2008 10 12.174 700 700
Boston Pizza Royalties Income Fund
Units Brown, William C 4, 5 05/09/2013 10 22.87 869 169
Boston Pizza Royalties Income Fund
Units Brown, William C 4, 5 28/05/2008 10 12.18 165 165
Boston Pizza Royalties Income Fund
Units Brown, William C 4, 5 17/11/2014 10 21.99 360 95
Boston Pizza Royalties Income Fund
Units Brown, William C 4, 5 28/05/2008 10 12.171 147 147
Boston Pizza Royalties Income Fund
Units Brown, William C 4, 5 17/11/2014 10 21.99 296 49
Boston Pizza Royalties Income Fund
Units Brown, William C 4, 5 28/05/2008 10 12.18 2,781 281
Boston Pizza Royalties Income Fund
Units Brown, William C 4, 5 30/09/2008 10 10.12 2,969 188
Boston Pizza Royalties Income Fund
Units Brown, William C 4, 5 17/09/2009 10 10.15 3,519 550
Boston Pizza Royalties Income Fund
Units Brown, William C 4, 5 31/03/2010 10 11.78 4,019 500
Boston Pizza Royalties Income Fund
Units Brown, William C 4, 5 31/03/2010 10 11.79 4,126 107
Boston Pizza Royalties Income Fund
Units Brown, William C 4, 5 05/09/2013 10 22.86 5,026 200
Boston Pizza Royalties Income Fund
Units Brown, William C 4, 5 05/09/2013 10 22.87 5,226 200
Boston Pizza Royalties Income Fund
Units Brown, William C 4, 5 17/11/2014 10 21.997 5,545 319
Boston Pizza Royalties Income Fund
Units Brown, William C 4, 5 20/08/2015 10 17.65 25,120 1,000
Boston Pizza Royalties Income Fund
Units Brown, William C 4, 5 28/08/2012 10 19.3 100
Boston Pizza Royalties Income Fund
Units Brown, William C 4, 5 28/08/2012 10 19.3 100
Boston Pizza Royalties Income Fund
Units Brown, William C 4, 5 28/08/2012 10 19.3 700
Boston Pizza Royalties Income Fund
Units Brown, William C 4, 5 30/10/2003 10 11.22 1,000
Boston Pizza Royalties Income Fund
Units Brown, William C 4, 5 29/11/2007 10 14 1,500
Boston Pizza Royalties Income Fund
Units Brown, William C 4, 5 24/03/2003 00
Boston Pizza Royalties Income Fund
Units Brown, William C 4, 5 24/03/2003 00
Boston Pizza Royalties Income Fund
Units Brown, William C 4, 5 24/03/2003 00
Boston Pizza Royalties Income Fund
Units Brown, William C 4, 5 28/08/2012 10 19.3 265 100
Boston Pizza Royalties Income Fund
Units Brown, William C 4, 5 24/03/2003 00
Boston Pizza Royalties Income Fund
Units Brown, William C 4, 5 28/08/2012 10 19.3 247 100
Boston Pizza Royalties Income Fund
Units Brown, William C 4, 5 24/03/2003 00
Boston Pizza Royalties Income Fund
Units Brown, William C 4, 5 30/10/2003 10 11.22 1,000 1,000
Boston Pizza Royalties Income Fund
Units Brown, William C 4, 5 29/11/2007 10 14 2,500 1,500
Boston Pizza Royalties Income Fund
Units Brown, William C 4, 5 28/08/2012 10 19.3 4,826 700
Boston Pizza Royalties Income Fund
Subscription Rights Subscription Receipts
Holm, Jordan 5 06/05/2015 36 22.1 0 -500
Insider Reporting
August 27, 2015
(2015), 38 OSCB 7415
Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Price
Date/Month End Holdings
Acquired/ Disposed
Boston Pizza Royalties Income Fund
Subscription Rights Subscription Receipts
Holm, Jordan 5 06/05/2015 15 22.1 -500
Boston Pizza Royalties Income Fund
Subscription Rights Subscription Receipts
Holm, Jordan 5 06/05/2015 36 22.1 -500
Boston Pizza Royalties Income Fund
Subscription Rights Subscription Receipts
Holm, Jordan 5 01/05/2006 00
Boston Pizza Royalties Income Fund
Subscription Rights Subscription Receipts
Holm, Jordan 5 16/04/2015 15 22.1 500 500
Boston Pizza Royalties Income Fund
Subscription Rights Subscription Receipts
Holm, Jordan 5 01/05/2006 00
Boston Pizza Royalties Income Fund
Subscription Rights Subscription Receipts
Holm, Jordan 5 01/05/2006 00
Boston Pizza Royalties Income Fund
Subscription Rights Subscription Receipts
Holm, Jordan 5 16/04/2015 15 500 500
Boston Pizza Royalties Income Fund
Subscription Rights Subscription Receipts
Holm, Jordan 5 16/04/2015 15 22.1 500
Boston Pizza Royalties Income Fund
Subscription Rights Subscription Receipts
Holm, Jordan 5 01/05/2006 00
Boston Pizza Royalties Income Fund
Subscription Rights Subscription Receipts
Holm, Jordan 5 16/04/2015 15 22.1 500 500
Boston Pizza Royalties Income Fund
Subscription Rights Subscription Receipts
Holm, Jordan 5 06/05/2015 36 22.1 0 -500
Boston Pizza Royalties Income Fund
Subscription Rights Subscription Receipts
Holm, Jordan 5 01/05/2006 00
Boston Pizza Royalties Income Fund
Subscription Rights Subscription Receipts
Holm, Jordan 5 01/05/2006 00
Boston Pizza Royalties Income Fund
Subscription Rights Subscription Receipts
Holm, Jordan 5 16/04/2015 15 22.1 500
Boston Pizza Royalties Income Fund
Subscription Rights Subscription Receipts
Holm, Jordan 5 06/05/2015 15 22.1 -500
Boston Pizza Royalties Income Fund
Subscription Rights Subscription Receipts
Holm, Jordan 5 06/05/2015 36 22.1 -500
Boston Pizza Royalties Income Fund
Units Holm, Jordan 5 04/03/2009 10 8.2 250
Boston Pizza Royalties Income Fund
Units Holm, Jordan 5 06/05/2015 36 22.1 500
Boston Pizza Royalties Income Fund
Units Holm, Jordan 5 04/03/2009 10 8.2 250 250
Boston Pizza Royalties Income Fund
Units Holm, Jordan 5 06/05/2015 36 22.1 750 500
Boston Pizza Royalties Income Fund
Units Holm, Jordan 5 01/05/2006 00
Boston Pizza Royalties Income Fund
Units Holm, Jordan 5 01/05/2006 00
Boston Pizza Royalties Income Fund
Units Holm, Jordan 5 04/03/2009 10 8.2 250
Boston Pizza Royalties Income Fund
Units Holm, Jordan 5 06/05/2015 15 22.1 500
Boston Pizza Royalties Income Fund
Units Holm, Jordan 5 06/05/2015 36 22.1 500
Boston Pizza Royalties Income Fund
Units Holm, Jordan 5 01/05/2006 00
Boston Pizza Royalties Income Fund
Units Holm, Jordan 5 01/05/2006 00
Boston Pizza Royalties Income Fund
Units Holm, Jordan 5 01/05/2006 00
Boston Pizza Royalties Income Fund
Units Holm, Jordan 5 01/05/2006 00
Boston Pizza Royalties Income Fund
Units Holm, Jordan 5 01/05/2006 00
Boston Pizza Royalties Income Fund
Units Holm, Jordan 5 14/08/2015 10 18.85 300 300
Boston Pizza Royalties Income Fund
Units Holm, Jordan 5 20/08/2015 10 17.51 500 200
Boston Pizza Royalties Income Fund
Units Holm, Jordan 5 01/05/2006 00
Insider Reporting
August 27, 2015
(2015), 38 OSCB 7416
Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Price
Date/Month End Holdings
Acquired/ Disposed
Boston Pizza Royalties Income Fund
Units Holm, Jordan 5 01/05/2006 00
Boston Pizza Royalties Income Fund
Units Holm, Jordan 5 01/05/2006 00
Boston Pizza Royalties Income Fund
Units Holm, Jordan 5 01/05/2006 00
Boston Pizza Royalties Income Fund
Units Holm, Jordan 5 01/05/2006 00
Boston Pizza Royalties Income Fund
Units Holm, Jordan 5 01/05/2006 00
Boston Pizza Royalties Income Fund
Units Holm, Jordan 5 06/05/2015 36 22.1 500 500
Boston Pizza Royalties Income Fund
Units Holm, Jordan 5 01/05/2006 00
Boston Pizza Royalties Income Fund
Units Holm, Jordan 5 01/05/2006 00
Boston Pizza Royalties Income Fund
Units Holm, Jordan 5 06/05/2015 15 22.1 500
Boston Pizza Royalties Income Fund
Units Holm, Jordan 5 06/05/2015 36 22.1 500
Boston Pizza Royalties Income Fund
Units Holm, Jordan 5 01/05/2006 00
Boston Pizza Royalties Income Fund
Units Holm, Jordan 5 01/05/2006 00
Boston Pizza Royalties Income Fund
Units Holm, Jordan 5 14/08/2015 10 18.85 300
Boston Pizza Royalties Income Fund
Units Jeske, Jonathan 5 17/08/2015 10 18.007 17,600 2,000
Boston Pizza Royalties Income Fund
Units Melville, George 5 03/01/2003 00
Boston Pizza Royalties Income Fund
Units Melville, George 5 21/08/2015 10 16.811 9,750 9,750
Boston Pizza Royalties Income Fund
Units Merrell, David L. 4 24/03/2015 10 22.09 225 225
Boston Pizza Royalties Income Fund
Units Merrell, David L. 4 11/06/2014 00
Boston Pizza Royalties Income Fund
Units Merrell, David L. 4 11/06/2014 00
Boston Pizza Royalties Income Fund
Units Merrell, David L. 4 24/03/2015 10 22.09 225
Boston Pizza Royalties Income Fund
Units Merrell, David L. 4 13/06/2014 10 20.07 1,000
Boston Pizza Royalties Income Fund
Units Merrell, David L. 4 17/11/2014 10 21.88 500
Boston Pizza Royalties Income Fund
Units Merrell, David L. 4 11/06/2014 00
Boston Pizza Royalties Income Fund
Units Merrell, David L. 4 11/06/2014 00
Boston Pizza Royalties Income Fund
Units Merrell, David L. 4 13/06/2014 10 20.07 1,000 1,000
Boston Pizza Royalties Income Fund
Units Merrell, David L. 4 24/03/2015 10 22.09 1,900 900
Boston Pizza Royalties Income Fund
Units Merrell, David L. 4 11/06/2014 00
Boston Pizza Royalties Income Fund
Units Merrell, David L. 4 11/06/2014 00
Boston Pizza Royalties Income Fund
Units Merrell, David L. 4 13/06/2014 10 20.07 1,000
Boston Pizza Royalties Income Fund
Units Merrell, David L. 4 24/03/2015 10 22.09 900
Boston Pizza Royalties Income Fund
Units Merrell, David L. 4 11/06/2014 00
Boston Pizza Royalties Income Fund
Units Merrell, David L. 4 17/11/2014 10 21.88 500 500
Boston Pizza Royalties Income Fund
Units Merrell, David L. 4 24/03/2015 10 22.09 725 225
Insider Reporting
August 27, 2015
(2015), 38 OSCB 7417
Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Price
Date/Month End Holdings
Acquired/ Disposed
Boston Pizza Royalties Income Fund
Units Merrell, David L. 4 14/08/2015 10 18.55 1,225 500
Boston Pizza Royalties Income Fund
Units Merrell, David L. 4 11/06/2014 00
Boston Pizza Royalties Income Fund
Units Merrell, David L. 4 11/06/2014 00
Boston Pizza Royalties Income Fund
Units Merrell, David L. 4 17/11/2014 10 21.88 500
Boston Pizza Royalties Income Fund
Units Merrell, David L. 4 24/03/2015 10 22.09 225
Boston Pizza Royalties Income Fund
Units Merrell, David L. 4 14/08/2015 10 18.55 500
Boulder Energy Ltd. Common Shares GMT Capital Corp 4 18/08/2015 10 3.83 1,083,700 18,300
Boulder Energy Ltd. Common Shares GMT Capital Corp 4 19/08/2015 10 3.67 1,101,300 17,600
Boulder Energy Ltd. Common Shares GMT Capital Corp 4 20/08/2015 10 3.58 1,103,500 2,200
Boulder Energy Ltd. Common Shares GMT Capital Corp 4 18/08/2015 10 3.83 812,350 29,400
Boulder Energy Ltd. Common Shares GMT Capital Corp 4 19/08/2015 10 3.67 840,550 28,200
Boulder Energy Ltd. Common Shares GMT Capital Corp 4 20/08/2015 10 3.58 844,050 3,500
Boulder Energy Ltd. Common Shares GMT Capital Corp 4 18/08/2015 10 3.83 2,314,900 39,900
Boulder Energy Ltd. Common Shares GMT Capital Corp 4 19/08/2015 10 3.67 2,353,300 38,400
Boulder Energy Ltd. Common Shares GMT Capital Corp 4 20/08/2015 10 3.58 2,358,200 4,900
Boulder Energy Ltd. Common Shares GMT Capital Corp 4 18/08/2015 10 3.83 131,350 4,900
Boulder Energy Ltd. Common Shares GMT Capital Corp 4 19/08/2015 10 3.67 136,150 4,800
Boulder Energy Ltd. Common Shares GMT Capital Corp 4 20/08/2015 10 3.58 136,750 600
Boulder Energy Ltd. Common Shares GMT Capital Corp 4 18/08/2015 10 3.83 194,000 3,700
Boulder Energy Ltd. Common Shares GMT Capital Corp 4 19/08/2015 10 3.67 197,500 3,500
Boulder Energy Ltd. Common Shares GMT Capital Corp 4 20/08/2015 10 3.58 197,900 400
BrightPath Early Learning Inc. (formerly Edleun Group, Inc.)
Common Shares BrightPath Early Learning Inc.
1 20/08/2015 38 0.3392 42,000 42,000
BrightPath Early Learning Inc. (formerly Edleun Group, Inc.)
Common Shares Vision Capital Corporation 3 19/08/2015 10 0.3337 12,092,267 16,034
BrightPath Early Learning Inc. (formerly Edleun Group, Inc.)
Common Shares Vision Capital Corporation 3 20/08/2015 10 0.3375 12,106,518 14,251
BrightPath Early Learning Inc. (formerly Edleun Group, Inc.)
Common Shares Vision Capital Corporation 3 19/08/2015 10 0.3337 3,163,452 3,954
BrightPath Early Learning Inc. (formerly Edleun Group, Inc.)
Common Shares Vision Capital Corporation 3 20/08/2015 10 0.3375 3,166,967 3,515
BrightPath Early Learning Inc. (formerly Edleun Group, Inc.)
Common Shares Vision Capital Corporation 3 19/08/2015 10 0.3337 1,707,291 1,805
BrightPath Early Learning Inc. (formerly Edleun Group, Inc.)
Common Shares Vision Capital Corporation 3 20/08/2015 10 0.3375 1,708,896 1,605
BrightPath Early Learning Inc. (formerly Edleun Group, Inc.)
Common Shares Vision Capital Corporation 3 19/08/2015 10 0.3337 642,298 707
BrightPath Early Learning Inc. (formerly Edleun Group, Inc.)
Common Shares Vision Capital Corporation 3 20/08/2015 10 0.3375 642,927 629
Brixton Metals Corporation Common Shares Thompson, Gary Robert 6 14/08/2015 10 0.12 869,084 5,000
Brookfield Asset Management Inc.
Common Shares Class A Limited Voting
Flatt, J. Bruce 4, 5 12/05/2015 35 5,753,760 1,917,920
Brookfield Asset Management Inc.
Common Shares Class A Limited Voting
Flatt, J. Bruce 4, 5 14/08/2015 11 45.2 6,196,260 442,500
Brookfield Asset Management Inc.
Common Shares Class A Limited Voting
Flatt, J. Bruce 4, 5 14/08/2015 47 45.2 5,753,760 -442,500
Brookfield Asset Management Inc.
Common Shares Class A Limited Voting
Flatt, J. Bruce 4, 5 12/05/2015 35 21,346,782 7,115,594
Brookfield Asset Management Inc.
Common Shares Class A Limited Voting
Flatt, J. Bruce 4, 5 17/08/2015 97 0 -21,346,782
Insider Reporting
August 27, 2015
(2015), 38 OSCB 7418
Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Price
Date/Month End Holdings
Acquired/ Disposed
Brookfield Asset Management Inc.
Common Shares Class A Limited Voting
Flatt, J. Bruce 4, 5 21/03/2003 00
Brookfield Asset Management Inc.
Common Shares Class A Limited Voting
Flatt, J. Bruce 4, 5 17/08/2015 97 21,346,782 21,346,782
Brookfield Asset Management Inc.
Deferred Share Units Flatt, J. Bruce 4, 5 12/05/2015 35 807,067 269,022
Brookfield Asset Management Inc.
Options Flatt, J. Bruce 4, 5 12/05/2015 35 1,387,500 462,500
Brookfield Asset Management Inc.
Restricted Share Units Flatt, J. Bruce 4, 5 12/05/2015 35 1,674,177 558,059
Brookfield Asset Management Inc.
Restricted Shares Flatt, J. Bruce 4, 5 12/05/2015 35 238,801 79,600
Brookfield Renewable Power Preferred Equity Inc.
Preferred Shares Class A Preference Shares, Series 1
Brookfield Renewable Power Preferred Equity Inc.
1 05/08/2015 38 17.644 6,336 2,718
Brookfield Renewable Power Preferred Equity Inc.
Preferred Shares Class A Preference Shares, Series 1
Brookfield Renewable Power Preferred Equity Inc.
1 06/08/2015 38 17.027 7,036 700
Brookfield Renewable Power Preferred Equity Inc.
Preferred Shares Class A Preference Shares, Series 1
Brookfield Renewable Power Preferred Equity Inc.
1 10/08/2015 38 700 -6,336
Brookfield Renewable Power Preferred Equity Inc.
Preferred Shares Class A Preference Shares, Series 1
Brookfield Renewable Power Preferred Equity Inc.
1 12/08/2015 38 0 -700
Brookfield Renewable Power Preferred Equity Inc.
Preferred Shares Class A Preference Shares, Series 2
Brookfield Renewable Power Preferred Equity Inc.
1 04/08/2015 38 16.117 1,200 600
Brookfield Renewable Power Preferred Equity Inc.
Preferred Shares Class A Preference Shares, Series 2
Brookfield Renewable Power Preferred Equity Inc.
1 06/08/2015 38 16.084 2,000 800
Brookfield Renewable Power Preferred Equity Inc.
Preferred Shares Class A Preference Shares, Series 2
Brookfield Renewable Power Preferred Equity Inc.
1 10/08/2015 38 800 -1,200
Brookfield Renewable Power Preferred Equity Inc.
Preferred Shares Class A Preference Shares, Series 2
Brookfield Renewable Power Preferred Equity Inc.
1 12/08/2015 38 0 -800
Brookfield Renewable Power Preferred Equity Inc.
Preferred Shares Class A Preference Shares, Series 3
Brookfield Renewable Power Preferred Equity Inc.
1 04/08/2015 38 19.792 5,200 1,300
Brookfield Renewable Power Preferred Equity Inc.
Preferred Shares Class A Preference Shares, Series 3
Brookfield Renewable Power Preferred Equity Inc.
1 05/08/2015 38 20.147 5,800 600
Brookfield Renewable Power Preferred Equity Inc.
Preferred Shares Class A Preference Shares, Series 3
Brookfield Renewable Power Preferred Equity Inc.
1 06/08/2015 38 19.919 7,300 1,500
Brookfield Renewable Power Preferred Equity Inc.
Preferred Shares Class A Preference Shares, Series 3
Brookfield Renewable Power Preferred Equity Inc.
1 10/08/2015 38 1,500 -5,800
Brookfield Renewable Power Preferred Equity Inc.
Preferred Shares Class A Preference Shares, Series 3
Brookfield Renewable Power Preferred Equity Inc.
1 12/08/2015 38 0 -1,500
BSM Technologies Inc. Common Shares De Jong, Louis Anthony 5 11/08/2015 10 0.9 21,500 4,000
BSM Technologies Inc. Common Shares Maw, Frank 4 02/04/2015 10 1.12 5,000
BSM Technologies Inc. Common Shares Maw, Frank 4 02/04/2015 10 1.12 5,000
BSM Technologies Inc. Common Shares Maw, Frank 4 02/04/2015 10 1.12 5,000
BSM Technologies Inc. Common Shares Maw, Frank 4 02/04/2015 38 5,000
BSM Technologies Inc. Common Shares Maw, Frank 4 02/04/2015 38 5,000
Buhler Industries Inc. Common Shares Buhler, John 3, 4 17/08/2015 10 5.95 868,000 4,700
Buhler Industries Inc. Common Shares Buhler, John 3, 4 19/08/2015 10 5.85 868,400 400
Buhler Industries Inc. Common Shares Buhler, John 3, 4 21/08/2015 10 5.85 870,000 1,600
BW Park Place Limited Partnership Units WATERLOO HEIGHTS PROPERTIES LIMITED
3 10/08/2015 22 768.75 1,870 1,510
BW Park Place Limited Partnership Units WATERLOO HEIGHTS PROPERTIES LIMITED
3 18/08/2015 11 768.75 2,110 240
C-COM Satellite Systems Inc.
Common Shares Klein, Leslie 3, 4, 5 25/08/2014 90 90,000 -250,000
C-COM Satellite Systems Inc.
Common Shares Klein, Leslie 3, 4, 5 25/08/2014 90 12,900,963 250,000
Insider Reporting
August 27, 2015
(2015), 38 OSCB 7419
Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Price
Date/Month End Holdings
Acquired/ Disposed
C-COM Satellite Systems Inc.
Common Shares Klein, Leslie 3, 4, 5 17/08/2015 10 1.03 12,947,163 1,200
C-COM Satellite Systems Inc.
Common Shares Klein, Leslie 3, 4, 5 18/08/2015 10 1.01 12,948,163 1,000
C-COM Satellite Systems Inc.
Common Shares Klein, Leslie 3, 4, 5 19/08/2015 10 1.01 12,949,163 1,000
CAE Inc. Common Shares Sharkey, Dan 5 02/01/2015 00
Caldwell U.S. Dividend Advantage Fund
Units Caldwell US Dividend Advantage Fund
1 13/08/2015 38 9.53 6,000 5,000
Caldwell U.S. Dividend Advantage Fund
Units Caldwell US Dividend Advantage Fund
1 13/08/2015 38 1,000 -5,000
Calfrac Well Services Ltd. Common Shares Matco Investments Ltd. 3 18/08/2015 10 4.8876 3,125,811 100,000
Canaccord Genuity Group Inc.
Common Shares Mills, Jason Richard 8 26/02/2007 00
Canaccord Genuity Group Inc.
Common Shares Mills, Jason Richard 8 05/08/2015 57 2,254 2,254
Canaccord Genuity Group Inc.
Rights Restricted Share Units
Mills, Jason Richard 8 05/08/2015 57 106,783 -2,254
Canaccord Genuity Group Inc.
Common Shares Raftus, Stuart 7 14/08/2015 10 6.0419 400,000 200,000
Canaccord Genuity Group Inc.
Common Shares Raftus, Stuart 7 19/08/2015 10 5.849 450,000 50,000
Canaccord Genuity Group Inc.
Common Shares Saunders, Graham Edward 7 18/08/2015 10 6.0069 17,167 -50,000
Canacol Energy Ltd. Options (Common Shares)
Baena, Luis Alfredo 5 18/08/2015 50 562,500 120,000
Canacol Energy Ltd. Options (Common Shares)
Bednar, Jason Michael 4, 5 18/08/2015 50 410,750 120,000
Canacol Energy Ltd. Options (Common Shares)
Carvajal, Diego Alfonso 5 18/08/2015 50 616,500 80,000
Canacol Energy Ltd. Options (Common Shares)
Diaz Salazar, Francisco 4 18/08/2015 50 54,000 24,000
Canacol Energy Ltd. Options (Common Shares)
Elliott, Greg 4 18/08/2015 50 83,000 24,000
Canacol Energy Ltd. Options (Common Shares)
Flick, Kevin James 5 18/08/2015 50 309,666 60,000
Canacol Energy Ltd. Options (Common Shares)
Gamba, Charle 4, 5 18/08/2015 50 1,160,500 200,000
Canacol Energy Ltd. Options (Common Shares)
Hensman, Stuart Philip 4 18/08/2015 50 106,000 24,000
Canacol Energy Ltd. Options (Common Shares)
Hibberd, Michael John 4 18/08/2015 50 2.28 227,500 40,000
Canacol Energy Ltd. Options (Common Shares)
Holliday, Mark Robert 5 18/08/2015 50 472,499 120,000
Canacol Energy Ltd. Options (Common Shares)
Teare, Mark Reginald 5 18/08/2015 50 602,500 120,000
Canacol Energy Ltd. Options (Common Shares)
Winter, David A 4 18/08/2015 50 120,500 24,000
Canacol Energy Ltd. Options (Common Shares)
Zaidi, Anthony Amar 5 18/08/2015 50 822,500 120,000
Canada Energy Partners Inc. Common Shares Burnett, Kyle R. 4 13/08/2015 10 0.0077 4,338,500 1,000,000
Canadian Energy Services & Technology Corp.
Common Shares West, Jason H. 4 19/08/2015 57 6.5451 303,332 155,387
Canadian Energy Services & Technology Corp.
Restricted Share Units West, Jason H. 4 19/08/2015 57 6.5451 169,610 -155,387
Canadian Energy Services & Technology Corp.
Common Shares Zaid, Gene H. 7 19/08/2015 57 155387 155,387
Canadian Energy Services & Technology Corp.
Common Shares Zaid, Gene H. 7 19/08/2015 57 6.5451 307,594 155,387
Canadian Energy Services & Technology Corp.
Restricted Share Units Zaid, Gene H. 7 19/08/2015 57 6.5451 169,610 -155,387
Canadian Energy Services & Technology Corp.
Common Shares Zandee, Kenneth Dale 6, 5 17/08/2015 57 7.61 224,100 220
Canadian Energy Services & Technology Corp.
Common Shares Zandee, Kenneth Dale 6, 5 17/08/2015 10 6.57 224,009 -91
Canadian Energy Services & Technology Corp.
Restricted Share Units Zandee, Kenneth Dale 6, 5 17/08/2015 57 7.61 48,693 -220
Insider Reporting
August 27, 2015
(2015), 38 OSCB 7420
Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Price
Date/Month End Holdings
Acquired/ Disposed
Canadian General Investments, Limited
Common Shares Fuernkranz, Frank Colin 5 18/08/2015 10 19.65 2,100 600
Canadian General Investments, Limited
Common Shares Fuernkranz, Frank Colin 5 19/08/2015 10 19.65 3,000 900
Canadian National Railway Company
Common Shares Cascade Investment, L.L.C. 3 11/08/2015 10 80.916 93,460,027 24,800
Canadian National Railway Company
Common Shares Cascade Investment, L.L.C. 3 11/08/2015 10 80.561 93,564,427 104,400
Canadian National Railway Company
Common Shares Cascade Investment, L.L.C. 3 11/08/2015 10 61.441 93,682,789 118,362
Canadian National Railway Company
Common Shares Cascade Investment, L.L.C. 3 12/08/2015 10 79.768 93,756,389 73,600
Canadian National Railway Company
Common Shares Cascade Investment, L.L.C. 3 12/08/2015 10 61.415 93,803,674 47,285
Canadian National Railway Company
Common Shares Cascade Investment, L.L.C. 3 13/08/2015 10 80.763 93,863,774 60,100
Canadian National Railway Company
Common Shares Cascade Investment, L.L.C. 3 13/08/2015 10 80.763 93,934,114 70,340
Canadian National Railway Company
Common Shares Cascade Investment, L.L.C. 3 14/08/2015 10 80.957 93,975,614 41,500
Canadian National Railway Company
Common Shares Cascade Investment, L.L.C. 3 14/08/2015 10 61.936 94,034,874 59,260
Canadian National Railway Company
Common Shares Cascade Investment, L.L.C. 3 17/08/2015 10 80.957 41,500
Canadian National Railway Company
Common Shares Cascade Investment, L.L.C. 3 17/08/2015 10 61.936 59,260
Canadian National Railway Company
Common Shares Cascade Investment, L.L.C. 3 17/08/2015 10 61.145 94,121,174 86,300
Canadian National Railway Company
Common Shares Cascade Investment, L.L.C. 3 18/08/2015 10 60.844 94,273,811 152,637
Canadian National Railway Company
Common Shares Cascade Investment, L.L.C. 3 18/08/2015 10 60.9 94,298,811 25,000
Canadian National Railway Company
Common Shares Gates, William Henry, III 3 11/08/2015 10 80.916 93,460,027 24,800
Canadian National Railway Company
Common Shares Gates, William Henry, III 3 11/08/2015 10 80.561 93,564,427 104,400
Canadian National Railway Company
Common Shares Gates, William Henry, III 3 11/08/2015 10 61.441 93,682,789 118,362
Canadian National Railway Company
Common Shares Gates, William Henry, III 3 12/08/2015 10 79.768 93,756,389 73,600
Canadian National Railway Company
Common Shares Gates, William Henry, III 3 12/08/2015 10 61.415 93,803,674 47,285
Canadian National Railway Company
Common Shares Gates, William Henry, III 3 13/08/2015 10 80.763 93,863,774 60,100
Canadian National Railway Company
Common Shares Gates, William Henry, III 3 13/08/2015 10 61.854 93,934,114 70,340
Canadian National Railway Company
Common Shares Gates, William Henry, III 3 14/08/2015 10 80.957 93,975,614 41,500
Canadian National Railway Company
Common Shares Gates, William Henry, III 3 14/08/2015 10 61.936 94,034,874 59,260
Canadian National Railway Company
Common Shares Gates, William Henry, III 3 17/08/2015 10 61.145 86,300
Canadian National Railway Company
Common Shares Gates, William Henry, III 3 17/08/2015 10 61.145 86,300
Canadian National Railway Company
Common Shares Gates, William Henry, III 3 17/08/2015 10 61.145 94,121,174 86,300
Canadian National Railway Company
Common Shares Gates, William Henry, III 3 18/08/2015 10 60.844 94,273,811 152,637
Canadian National Railway Company
Common Shares Gates, William Henry, III 3 18/08/2015 10 60.9 94,298,811 25,000
Canadian National Railway Company
Common Shares Gates, William Henry, III 3 11/08/2015 10 80.916 93,460,027 24,800
Canadian National Railway Company
Common Shares Gates, William Henry, III 3 11/08/2015 10 80.561 93,564,427 104,400
Canadian National Railway Company
Common Shares Gates, William Henry, III 3 11/08/2015 10 61.441 93,682,789 118,362
Insider Reporting
August 27, 2015
(2015), 38 OSCB 7421
Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Price
Date/Month End Holdings
Acquired/ Disposed
Canadian National Railway Company
Common Shares Gates, William Henry, III 3 12/08/2015 10 79.768 93,756,389 73,600
Canadian National Railway Company
Common Shares Gates, William Henry, III 3 12/08/2015 10 61.415 93,803,674 47,285
Canadian National Railway Company
Common Shares Gates, William Henry, III 3 13/08/2015 10 80.763 93,863,774 60,100
Canadian National Railway Company
Common Shares Gates, William Henry, III 3 13/08/2015 10 61.854 93,934,114 70,340
Canadian National Railway Company
Common Shares Gates, William Henry, III 3 14/08/2015 10 80.957 93,975,614 41,500
Canadian National Railway Company
Common Shares Gates, William Henry, III 3 14/08/2015 10 61.936 94,034,874 59,260
Canadian National Railway Company
Common Shares Gates, William Henry, III 3 17/08/2015 10 61.145 86,300
Canadian National Railway Company
Common Shares Gates, William Henry, III 3 17/08/2015 10 61.145 86,300
Canadian National Railway Company
Common Shares Gates, William Henry, III 3 17/08/2015 10 61.145 94,121,174 86,300
Canadian National Railway Company
Common Shares Gates, William Henry, III 3 18/08/2015 10 60.844 94,273,811 152,637
Canadian National Railway Company
Common Shares Gates, William Henry, III 3 18/08/2015 10 60.9 94,298,811 25,000
Canadian Natural Resources Limited
Common Shares Janson, Peter John 5 10/08/2015 30 33.13 51,613 9,524
Canadian Natural Resources Limited
Common Shares Janson, Peter John 5 10/08/2015 30 33.13 13,656 11,632
Canadian Oil Recovery & Remediation Enterprises Ltd.
Common Shares Lorenzo, John Michael 4 14/08/2015 10 0.035 11,992,186 45,000
Canadian Oil Sands Limited Common Shares Birkby, Philip 5 31/12/2010 00
Canadian Oil Sands Limited Common Shares Birkby, Philip 5 14/08/2015 10 6.6 15,500 15,500
Canadian Oil Sands Limited Common Shares Birkby, Philip 5 14/08/2015 10 6.61 25,700 10,200
Canadian Oil Sands Limited Common Shares Birkby, Philip 5 14/08/2015 10 6.62 42,000 16,300
Canadian Oil Sands Limited Common Shares Greenshields, Scott 5 14/08/2015 10 6.46 15,200 1,000
Canadian Oil Sands Limited Common Shares Greenshields, Scott 5 19/08/2015 10 6.2 16,200 1,000
Canadian Oil Sands Limited Common Shares Greenshields, Scott 5 19/08/2015 10 6.15 18,200 2,000
Canadian Oil Sands Limited Common Shares Hardy, Darren 5 17/08/2015 10 6.47 10,530 7,100
Canadian Oil Sands Limited Common Shares Hardy, Darren 5 17/08/2015 10 6.48 13,430 2,900
Canadian Oil Sands Limited Common Shares Nickerson, Adrienne 5 18/08/2015 10 6.35 5,921 100
Canadian Oil Sands Limited Common Shares Nickerson, Adrienne 5 18/08/2015 10 6.43 6,821 900
Canadian Overseas Petroleum Limited
Common Shares Astor, William Waldorf 4 28/03/2013 00
Canadian Overseas Petroleum Limited
Common Shares Astor, William Waldorf 4 09/07/2015 15 1,111,111 1,111,111
Canadian Overseas Petroleum Limited
Warrants Astor, William Waldorf 4 28/03/2013 00
Canadian Overseas Petroleum Limited
Warrants Astor, William Waldorf 4 09/07/2015 15 0.12 1,111,111 1,111,111
Canadian Overseas Petroleum Limited
Common Shares Christensen, Rodney Jay 5 01/01/2011 00
Canadian Overseas Petroleum Limited
Common Shares Christensen, Rodney Jay 5 09/07/2015 15 10,000 10,000
Canadian Overseas Petroleum Limited
Warrants Christensen, Rodney Jay 5 01/01/2011 00
Canadian Overseas Petroleum Limited
Warrants Christensen, Rodney Jay 5 09/07/2015 15 0.12 10,000 10,000
Canadian Overseas Petroleum Limited
Common Shares Mays, Richard Paul 5 01/09/2014 00
Canadian Overseas Petroleum Limited
Common Shares Mays, Richard Paul 5 09/07/2015 15 300,000 300,000
Canadian Overseas Petroleum Limited
Warrants Mays, Richard Paul 5 01/09/2014 00
Canadian Overseas Petroleum Limited
Warrants Mays, Richard Paul 5 09/07/2015 15 0.12 300,000 300,000
Canadian Overseas Petroleum Limited
Common Shares Millholland, Arthur Sherman 4, 5 09/07/2015 15 5,739,657 1,111,111
Insider Reporting
August 27, 2015
(2015), 38 OSCB 7422
Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Price
Date/Month End Holdings
Acquired/ Disposed
Canadian Overseas Petroleum Limited
Warrants Millholland, Arthur Sherman 4, 5 09/07/2015 15 0.12 1,611,111 1,111,111
Canadian Overseas Petroleum Limited
Common Shares Obreiter, Kristin 5 09/07/2015 15 26,375 22,250
Canadian Overseas Petroleum Limited
Warrants Obreiter, Kristin 5 14/04/2015 00
Canadian Overseas Petroleum Limited
Warrants Obreiter, Kristin 5 09/07/2015 15 0.12 22,250 22,250
Canadian Tire Corporation, Limited
Non-Voting Shares Class A
Canadian Tire Corporation, Limited
1 14/08/2015 38 124.55 50,000 50,000
Canadian Tire Corporation, Limited
Non-Voting Shares Class A
Canadian Tire Corporation, Limited
1 14/08/2015 38 124.55 0 -50,000
Canadian Tire Corporation, Limited
Non-Voting Shares Class A
Canadian Tire Corporation, Limited
1 17/08/2015 38 124.55 50,000 50,000
Canadian Tire Corporation, Limited
Non-Voting Shares Class A
Canadian Tire Corporation, Limited
1 17/08/2015 38 124.55 0 -50,000
Canadian Tire Corporation, Limited
Non-Voting Shares Class A
Canadian Tire Corporation, Limited
1 18/08/2015 38 126.14 50,000 50,000
Canadian Tire Corporation, Limited
Non-Voting Shares Class A
Canadian Tire Corporation, Limited
1 18/08/2015 38 126.14 0 -50,000
Canadian Tire Corporation, Limited
Non-Voting Shares Class A
Canadian Tire Corporation, Limited
1 19/08/2015 38 126.51 50,000 50,000
Canadian Tire Corporation, Limited
Non-Voting Shares Class A
Canadian Tire Corporation, Limited
1 19/08/2015 38 126.51 0 -50,000
Canadian Tire Corporation, Limited
Non-Voting Shares Class A
Canadian Tire Corporation, Limited
1 20/08/2015 38 124.62 50,000 50,000
Canadian Tire Corporation, Limited
Non-Voting Shares Class A
Canadian Tire Corporation, Limited
1 20/08/2015 38 124.62 0 -50,000
Canadian Tire Corporation, Limited
Non-Voting Shares Class A
Canadian Tire Corporation, Limited
1 21/08/2015 38 121.91 50,000 50,000
Canadian Tire Corporation, Limited
Non-Voting Shares Class A
Canadian Tire Corporation, Limited
1 21/08/2015 38 121.91 0 -50,000
Canadian Tire Corporation, Limited
Options Roman, Eugene O. 5 18/08/2015 59 22,011 -3,691
Canadian Utilities Limited Non-Voting Shares Class A
Urwin, Roger J. 6 11/08/2015 30 40.73 23,157 207
Canadian Utilities Limited Non-Voting Shares Class A
Urwin, Roger J. 6 17/08/2015 10 36.285 19,100 -4,057
Canadian Western Bank Rights Restricted Share Units
Hallson, Richard Norman 5 10/06/2014 59 -334
Canadian Western Bank Rights Restricted Share Units
Hallson, Richard Norman 5 10/06/2014 59 4,014 -334
Canadian Western Bank Rights Restricted Share Units
Hallson, Richard Norman 5 14/06/2014 59 -791
Canadian Western Bank Rights Restricted Share Units
Hallson, Richard Norman 5 14/06/2014 59 5,002 -791
Canadian Western Bank Rights Restricted Share Units
Hallson, Richard Norman 5 15/06/2014 59 -820
Canadian Western Bank Rights Restricted Share Units
Hallson, Richard Norman 5 15/06/2014 59 4,182 -820
Canadian World Fund Limited
Common Shares Fuernkranz, Frank Colin 5 19/08/2015 10 5.25 5,000 2,000
CANADIAN ZINC CORPORATION
Rights Restricted Share Units
Taylor, Alan Bruce 4, 5 23/03/2004 00
CANADIAN ZINC CORPORATION
Rights Restricted Share Units
Taylor, Alan Bruce 4, 5 12/08/2015 30 1,000,000 1,000,000
Canoe Mining Ventures Corp.
Common Shares Parnham, Duane 4, 5 14/08/2015 10 0.04 2,492,673 4,000
Canoe Mining Ventures Corp.
Common Shares Parnham, Duane 4, 5 17/08/2015 10 0.04 2,493,673 1,000
CanWel Building Materials Group Ltd. (formerly, Canwel Holdings Corporation)
Common Shares Doman, Amardeip Singh 4 19/08/2015 10 5.39 9,314,354 5,900
CanWel Building Materials Group Ltd. (formerly, Canwel Holdings Corporation)
Common Shares Doman, Amardeip Singh 4 19/08/2015 10 5.4 9,323,254 8,900
Capital Power Corporation Common Shares DeNeve, Bryan 5 12/08/2015 10 20.455 17,108 2,400
Insider Reporting
August 27, 2015
(2015), 38 OSCB 7423
Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Price
Date/Month End Holdings
Acquired/ Disposed
Captiva Verde Industries Ltd. Common Shares Cross River Partners, L.P. 3 10/08/2015 00 5,200,000
Captiva Verde Industries Ltd. Warrants Common Share Purchase Warrants
Cross River Partners, L.P. 3 10/08/2015 00 2,600,000
CarbonOne Technologies Inc.
Common Shares Au, Eileen 5 23/07/2015 00
CarbonOne Technologies Inc.
Common Shares Au, Eileen 5 23/07/2015 00
CarbonOne Technologies Inc.
Common Shares Au, Eileen 5 23/07/2015 15 0.2 25,000
CarbonOne Technologies Inc.
Common Shares Au, Eileen 5 23/07/2015 15 0.2 25,000
CarbonOne Technologies Inc.
Common Shares Au, Eileen 5 23/07/2015 00 125,000
CarbonOne Technologies Inc.
Options Au, Eileen 5 23/07/2015 00
CarbonOne Technologies Inc.
Options Au, Eileen 5 23/07/2015 00
CarbonOne Technologies Inc.
Options Au, Eileen 5 23/07/2015 50 0.2 200,000
CarbonOne Technologies Inc.
Options Au, Eileen 5 23/07/2015 50 0.2 200,000
CarbonOne Technologies Inc.
Options Au, Eileen 5 23/07/2015 00 200,000
CarbonOne Technologies Inc.
Common Shares Bagerdjian, Haig S. 4 23/07/2015 00
CarbonOne Technologies Inc.
Common Shares Bagerdjian, Haig S. 4 23/07/2015 00
CarbonOne Technologies Inc.
Common Shares Bagerdjian, Haig S. 4 23/07/2015 00
CarbonOne Technologies Inc.
Common Shares Bagerdjian, Haig S. 4 23/07/2015 00
CarbonOne Technologies Inc.
Common Shares Bagerdjian, Haig S. 4 23/07/2015 15 0.2 635,082
CarbonOne Technologies Inc.
Common Shares Bagerdjian, Haig S. 4 23/07/2015 15 0.2 635,082
CarbonOne Technologies Inc.
Common Shares Bagerdjian, Haig S. 4 23/07/2015 00 635,082
CarbonOne Technologies Inc.
Options Bagerdjian, Haig S. 4 23/07/2015 00
CarbonOne Technologies Inc.
Options Bagerdjian, Haig S. 4 23/07/2015 00
CarbonOne Technologies Inc.
Options Bagerdjian, Haig S. 4 23/07/2015 50 0.2 300,000
CarbonOne Technologies Inc.
Options Bagerdjian, Haig S. 4 23/07/2015 50 0.2 300,000
CarbonOne Technologies Inc.
Options Bagerdjian, Haig S. 4 23/07/2015 00
CarbonOne Technologies Inc.
Options Bagerdjian, Haig S. 4 23/07/2015 00
CarbonOne Technologies Inc.
Options Bagerdjian, Haig S. 4 23/07/2015 00 300,000
CarbonOne Technologies Inc.
Common Shares Malkassian, R. Patrick 4 23/07/2015 00 300,000
CarbonOne Technologies Inc.
Common Shares Malkassian, R. Patrick 4 23/07/2015 00
CarbonOne Technologies Inc.
Common Shares Malkassian, R. Patrick 4 23/07/2015 00
CarbonOne Technologies Inc.
Common Shares Malkassian, R. Patrick 4 23/07/2015 15 0.2 476,343
CarbonOne Technologies Inc.
Common Shares Malkassian, R. Patrick 4 23/07/2015 15 0.2 476,343
CarbonOne Technologies Inc.
Common Shares Malkassian, R. Patrick 4 23/07/2015 00 476,343
CarbonOne Technologies Inc.
Options Malkassian, R. Patrick 4 23/07/2015 00
CarbonOne Technologies Inc.
Options Malkassian, R. Patrick 4 23/07/2015 00
Insider Reporting
August 27, 2015
(2015), 38 OSCB 7424
Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Price
Date/Month End Holdings
Acquired/ Disposed
CarbonOne Technologies Inc.
Options Malkassian, R. Patrick 4 23/07/2015 50 0.2 300,000
CarbonOne Technologies Inc.
Options Malkassian, R. Patrick 4 23/07/2015 50 0.2 300,000
CarbonOne Technologies Inc.
Options Malkassian, R. Patrick 4 23/07/2015 50 0.2 300,000
CarbonOne Technologies Inc.
Options Malkassian, R. Patrick 4 23/07/2015 00 300,000
CarbonOne Technologies Inc.
Common Shares Proust, John Graham 4, 5 23/07/2015 00
CarbonOne Technologies Inc.
Common Shares Proust, John Graham 4, 5 23/07/2015 00
CarbonOne Technologies Inc.
Common Shares Proust, John Graham 4, 5 23/07/2015 15 0.2 40,425
CarbonOne Technologies Inc.
Common Shares Proust, John Graham 4, 5 23/07/2015 15 0.2 40,425
CarbonOne Technologies Inc.
Common Shares Proust, John Graham 4, 5 23/07/2015 00
CarbonOne Technologies Inc.
Common Shares Proust, John Graham 4, 5 23/07/2015 00
CarbonOne Technologies Inc.
Common Shares Proust, John Graham 4, 5 23/07/2015 00
CarbonOne Technologies Inc.
Common Shares Proust, John Graham 4, 5 23/07/2015 00
CarbonOne Technologies Inc.
Common Shares Proust, John Graham 4, 5 23/07/2015 00
CarbonOne Technologies Inc.
Common Shares Proust, John Graham 4, 5 23/07/2015 00
CarbonOne Technologies Inc.
Common Shares Proust, John Graham 4, 5 23/07/2015 00 6,440,511
CarbonOne Technologies Inc.
Common Shares Proust, John Graham 4, 5 23/07/2015 00 40,425
CarbonOne Technologies Inc.
Common Shares Proust, John Graham 4, 5 23/07/2015 00 932,500
CarbonOne Technologies Inc.
Options Proust, John Graham 4, 5 23/07/2015 00
CarbonOne Technologies Inc.
Options Proust, John Graham 4, 5 23/07/2015 00
CarbonOne Technologies Inc.
Options Proust, John Graham 4, 5 23/07/2015 50 0.2 500,000
CarbonOne Technologies Inc.
Options Proust, John Graham 4, 5 23/07/2015 50 0.2 500,000
CarbonOne Technologies Inc.
Options Proust, John Graham 4, 5 23/07/2015 00 500,000
Cardiff Energy Corp. Common Shares Bal, Jatinder Singh 4 13/08/2015 51 0.08 1,470,000 470,000
Cardiff Energy Corp. Common Shares Bal, Jatinder Singh 4 13/08/2015 10 0.105 1,000,000 -470,000
Cardiff Energy Corp. Common Shares Bal, Jatinder Singh 4 17/08/2015 10 0.1 1,070,000 70,000
Cardiff Energy Corp. Options Bal, Jatinder Singh 4 13/08/2015 51 0.08 0 -470,000
Cardiff Energy Corp. Options Bal, Jatinder Singh 4 20/08/2015 51 0.08 -470,000
Caribbean Utilities Company, Ltd.
Common Shares Class A Ordinary Shares
Watler, David 5 17/09/2007 00
Caribbean Utilities Company, Ltd.
Common Shares Class A Ordinary Shares
Watler, David 5 17/09/2007 00
Caribbean Utilities Company, Ltd.
Common Shares Class A Ordinary Shares
Watler, David 5 17/08/2015 11 10.4 1,038 1,038
Carube Copper Corp. (formerly Miocene Resources Limited)
Common Shares Ackert, Jeff 4, 5 21/08/2015 10 0.13 1,221,960 5,000
Cascades Inc. Common Shares Dépin, Marc-André 7 13/08/2015 40 8.9 44,077 -75,000
Cascades Inc. Common Shares Dépin, Marc-André 7 18/08/2015 51 3.92 119,077 75,000
Cascades Inc. Options options d'achat d'actions ordinaires
Dépin, Marc-André 7 18/08/2015 51 729,283 -75,000
Ceiba Energy Services Inc. Share Units Cheung, Peter 5 30/06/2014 00
Ceiba Energy Services Inc. Share Units Cheung, Peter 5 18/08/2015 56 1,014 1,014
Ceiba Energy Services Inc. Share Units Coughlan, James Bishop 5 07/01/2013 00
Ceiba Energy Services Inc. Share Units Coughlan, James Bishop 5 18/08/2015 56 1,091 1,091
Insider Reporting
August 27, 2015
(2015), 38 OSCB 7425
Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Price
Date/Month End Holdings
Acquired/ Disposed
Ceiba Energy Services Inc. Share Units Hesje, Ralph 4 18/08/2015 56 30,952
Ceiba Energy Services Inc. Share Units Hesje, Ralph 4 18/08/2015 56 61,904 30,952
Ceiba Energy Services Inc. Share Units Jones, Marvin John 4 18/08/2015 56 20,238 10,714
Ceiba Energy Services Inc. Share Units Lane, Philip Richard 5 02/01/2013 00
Ceiba Energy Services Inc. Share Units Lane, Philip Richard 5 18/08/2015 56 1,299 1,299
Ceiba Energy Services Inc. Share Units Petersen, Brian Kenneth 4 18/08/2015 56 38,096 19,048
Ceiba Energy Services Inc. Share Units Sifton, Ronald Les 4 18/08/2015 56 60,714 30,357
Ceiba Energy Services Inc. Share Units Simister, Ian Harvey 4, 5 11/12/2012 00
Ceiba Energy Services Inc. Share Units Simister, Ian Harvey 4, 5 18/08/2015 56 1,299 1,299
Centerra Gold Inc. Rights Restricted Share Units
Connor, Richard Webster 4 14/08/2015 59 7.09 0 -3,077
Centerra Gold Inc. Common Shares Pressler, Sheryl 4 14/08/2015 57 2789 2,789
Centerra Gold Inc. Common Shares Pressler, Sheryl 4 14/08/2015 57 7.09 24,716 2,845
Centerra Gold Inc. Rights Restricted Share Units
Pressler, Sheryl 4 14/08/2015 59 7.09 -288
Centerra Gold Inc. Rights Restricted Share Units
Pressler, Sheryl 4 14/08/2015 59 7.09 2,845 -232
Centerra Gold Inc. Rights Restricted Share Units
Pressler, Sheryl 4 14/08/2015 57 7.09 -2,789
Centerra Gold Inc. Rights Restricted Share Units
Pressler, Sheryl 4 14/08/2015 57 7.09 0 -2,845
Ceres Global Ag Corp. Common Shares Bracken, Patrick Hamilton 4, 5 19/08/2015 10 4.8939 45,400 1,500
Ceres Global Ag Corp. Common Shares Kucala, Mark 5 17/08/2015 10 4.945 3,700 1,200
Cervus Equipment Corporation
Common Shares Deferred Shares
Drake, Graham 4 15/07/2015 30 15.99 38,096 525
CGI Group Inc. Subordinate Voting Shares Classe A
Groupe CGI inc. 1 19/08/2015 38 47.51 540,000 540,000
CGI Group Inc. Subordinate Voting Shares Classe A
Groupe CGI inc. 1 21/08/2015 38 0 -540,000
CGI Group Inc. Subordinate Voting Shares Classe A
Rocheleau, Daniel 5 16/01/2003 00
CGI Group Inc. Subordinate Voting Shares Classe A
Rocheleau, Daniel 5 14/08/2015 90 16,809 16,809
CGI Group Inc. Subordinate Voting Shares Classe A
Rocheleau, Daniel 5 14/08/2015 30 51.141 16,809 480
CGI Group Inc. Subordinate Voting Shares Classe A
Rocheleau, Daniel 5 14/08/2015 90 0 -16,809
Champion Iron Limited Options O'Keeffe, William Michael 4 20/08/2015 50 0.3 2,000,000 1,000,000
Choice Properties Real Estate Investment Trust
Trust Units Clark, Christie James Beckett
4, 6 17/08/2015 10 11.502 20,077 400
Choice Properties Real Estate Investment Trust
Class B Units of CP LP exchangeable 1 for 1 for Trust Units
Loblaw Companies Limited 3 04/07/2013 00
Choice Properties Real Estate Investment Trust
Class B Units of CP LP exchangeable 1 for 1 for Trust Units
Loblaw Companies Limited 3 20/08/2015 11 11.422 26,265 26,265
Choice Properties Real Estate Investment Trust
Class B Units of CP LP exchangeable 1 for 1 for Trust Units
Loblaw Companies Limited 3 04/07/2013 00
Choice Properties Real Estate Investment Trust
Class B Units of CP LP exchangeable 1 for 1 for Trust Units
Loblaw Companies Limited 3 20/08/2015 11 11.422 253,890 253,890
Chorus Aviation Inc. Options Peddle, James Bruce 5 18/08/2015 00
Chorus Aviation Inc. Options Peddle, James Bruce 5 19/08/2015 00
Chorus Aviation Inc. Options Peddle, James Bruce 5 18/08/2015 00 400,000
Chorus Aviation Inc. Rights (Ongoing Long-Term Incentive Plan)
Peddle, James Bruce 5 18/08/2015 00
Chorus Aviation Inc. Rights (Ongoing Long-Term Incentive Plan)
Peddle, James Bruce 5 18/08/2015 00 9,859
Chorus Aviation Inc. Rights (Ongoing Long-Term Incentive Plan)
Peddle, James Bruce 5 19/08/2015 00
ChroMedX Corp. (formerly, Monarch Energy Limited)
Common Shares Maddever, Wayne John 4, 5 14/08/2015 10 0.18 640,000 -18,500
ChroMedX Corp. (formerly, Monarch Energy Limited)
Common Shares Maddever, Wayne John 4, 5 15/08/2015 51 0.1 1,140,000 500,000
Insider Reporting
August 27, 2015
(2015), 38 OSCB 7426
Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Price
Date/Month End Holdings
Acquired/ Disposed
ChroMedX Corp. (formerly, Monarch Energy Limited)
Options Maddever, Wayne John 4, 5 15/08/2015 51 0.1 750,000 -500,000
Cipher Pharmaceuticals Inc. Common Shares Aigner, Stefan 4 17/08/2015 30 8.56 14,746 234
Cipher Pharmaceuticals Inc. Common Shares Chypyha, Joan 5 17/08/2015 30 8.56 700 93
Cipher Pharmaceuticals Inc. Common Shares Claypool, William 4 17/08/2015 30 8.56 134,581 234
Cipher Pharmaceuticals Inc. Common Shares McDole, Gerald P. 4 17/08/2015 30 8.56 50,976 187
Cipher Pharmaceuticals Inc. Common Shares O'Brien, Shawn Patrick 5 17/08/2015 30 8.56 37,371 211
Cipher Pharmaceuticals Inc. Common Shares Pecora, Joseph 7 17/08/2015 30 6.89 1,162 581
Cipher Pharmaceuticals Inc. Common Shares Spina, Mark 7 17/08/2015 30 6.89 266 133
Cipher Pharmaceuticals Inc. Common Shares Wellner, Thomas Gordon 4 17/08/2015 30 8.56 2,266 117
Cipher Pharmaceuticals Inc. Common Shares Wieler, Peter John 5 17/08/2015 30 8.56 4,659 180
Cipher Pharmaceuticals Inc. Common Shares Wiseman, Stephen R. 4 17/08/2015 30 8.56 2,305 304
Co-operators General Insurance Company
Common Shares Co-operators Financial Services Limited
2 02/06/1997 97 20,000,000 20,000,000
Co-operators General Insurance Company
Common Shares Co-operators Financial Services Limited
2 18/04/2008 00
Co-operators General Insurance Company
Common Shares Co-operators Financial Services Limited
2 19/11/2014 97 21,294,708 1,294,708
Codrington Resource Corporation
Options Ambrose, Allen Vernon 4 01/06/2015 50 0.1 350,000 75,000
COLLIERS INTERNATIONAL GROUP INC.
Subordinate Voting Shares
Baehr, Alexander A. 5 13/08/2015 10 46.139 39,306 -1,250
Columbus Copper Corporation
Options hassanally, akbar 5 07/08/2015 38 0 -400,000
COMPASS Income Fund Trust Units COMPASS Income Fund 1 19/08/2015 38 11.23 32,072,960 1,400
Computer Modelling Group Ltd.
Options Balic, Sandra 5 14/08/2015 50 166,400 30,000
Computer Modelling Group Ltd.
Options Dedeluk, Kenneth Michael 4, 5 14/08/2015 50 502,000 60,000
Computer Modelling Group Ltd.
Options Eastick, Robert Roy 5 14/08/2015 50 230,000 30,000
Computer Modelling Group Ltd.
Options Erdle, James Craig 5 14/08/2015 50 230,000 30,000
Computer Modelling Group Ltd.
Options Fong, Christopher Lee 4 14/08/2015 50 57,000 10,000
Computer Modelling Group Ltd.
Options Hicks, Robert David 5 14/08/2015 50 149,000 30,000
Computer Modelling Group Ltd.
Options Jamieson, Patrick 4 14/08/2015 50 86,000 10,000
Computer Modelling Group Ltd.
Options Kinash, Peter Harry 4 14/08/2015 50 66,000 10,000
Computer Modelling Group Ltd.
Options Kumar, Anjani 5 14/08/2015 50 172,000 30,000
Computer Modelling Group Ltd.
Options Meyer, Frank Lockwood 4 14/08/2015 50 100,500 15,000
Computer Modelling Group Ltd.
Options Nghiem, Long X 5 14/08/2015 50 215,000 30,000
Computer Modelling Group Ltd.
Options SCHNEIDER, RYAN NICOLAS
5 14/08/2015 50 340,000 50,000
Computer Modelling Group Ltd.
Options Smith, Robert Frederick Morrison
4 14/08/2015 50 51,000 12,000
Computer Modelling Group Ltd.
Common Shares Zaozirny, John Brian 4 19/08/2015 10 12.24 125,000 -25,000
Computer Modelling Group Ltd.
Common Shares Zaozirny, John Brian 4 21/08/2015 10 11.84 100,000 -25,000
Computer Modelling Group Ltd.
Options Zaozirny, John Brian 4 14/08/2015 50 63,500 12,000
Concordia Healthcare Corp. (formerly Mercari Acquisition Corp.)
Options Kreppner, Wayne Walter 5 13/08/2015 38 219,185 -30,815
Concordia Healthcare Corp. (formerly Mercari Acquisition Corp.)
Units Restricted Share Units
Kreppner, Wayne Walter 5 13/08/2015 38 56,888 -4,799
Insider Reporting
August 27, 2015
(2015), 38 OSCB 7427
Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Price
Date/Month End Holdings
Acquired/ Disposed
Concordia Healthcare Corp. (formerly Mercari Acquisition Corp.)
Common Shares McCleery, John Alexander Robert
7, 5 01/06/2015 57 447
Concordia Healthcare Corp. (formerly Mercari Acquisition Corp.)
Common Shares McCleery, John Alexander Robert
7, 5 01/06/2015 57 457 457
Concordia Healthcare Corp. (formerly Mercari Acquisition Corp.)
Units Restricted Share Units
McCleery, John Alexander Robert
7, 5 01/06/2015 57 -447
Concordia Healthcare Corp. (formerly Mercari Acquisition Corp.)
Units Restricted Share Units
McCleery, John Alexander Robert
7, 5 01/06/2015 57 1,374 -457
Concordia Healthcare Corp. (formerly Mercari Acquisition Corp.)
Options Thompson, Mark Laurence 4, 5 13/08/2015 38 55,550 -59,450
Concordia Healthcare Corp. (formerly Mercari Acquisition Corp.)
Units Restricted Share Units
Thompson, Mark Laurence 4, 5 13/08/2015 38 69,068 -9,048
Condor Petroleum Inc. Options Hatcher, William Bradley 5 07/07/2015 52 2,875,000 -1,750,000
Condor Petroleum Inc. Options Quilty, Stanley Martin 5 07/07/2015 52 3,075,000 -1,550,000
Condor Petroleum Inc. Common Shares Storm, Norman 6 19/08/2015 10 0.15 3,987,618 33,000
Condor Petroleum Inc. Common Shares Storm, Norman 6 21/08/2015 10 0.155 4,037,618 50,000
Condor Petroleum Inc. Options Streu, Donald James 4, 5 07/07/2015 52 3,150,000 -1,770,000
Condor Petroleum Inc. Options Whittaker, Roger David 5 07/07/2015 52 2,275,000 -1,500,000
Conifex Timber Inc. Common Shares Costello, John Michael 4 14/08/2015 10 5.05 1,500 500
Connacher Oil and Gas Limited
Common Shares Morgan Stanley & Co. LLC 3 13/08/2015 10 1.15 1,254,761 -600
Constellation Software Inc. Rights 2015 Billowits, John Edward 5 01/09/2007 00 42,262
Constellation Software Inc. Rights 2015 Billowits, John Edward 5 14/08/2015 10 0.28 0 -42,262
Coro Mining Corp. Common Shares Philpot, Michael 4, 5 10/08/2015 10 0.03 10,192,666 500,000
Cougar Minerals Corp. Common Shares Chiu, Tong, Ricky 4 17/06/2015 00
Cougar Minerals Corp. Common Shares Chiu, Tong, Ricky 4 12/08/2015 16 0.05 500,000 500,000
Cougar Minerals Corp. Warrants Chiu, Tong, Ricky 4 17/06/2015 00
Cougar Minerals Corp. Warrants Chiu, Tong, Ricky 4 12/08/2015 16 500,000 500,000
Cougar Minerals Corp. Common Shares Nye, Murray R. 4, 5 11/08/2015 11 0.05 149,667 100,000
CounterPath Corporation Rights Deferred Share Units
Cooper, Christopher 4 17/07/2015 56 229,642 60,727
CounterPath Corporation Rights Deferred Share Units
Jones, Donovan 4, 5 15/07/2015 56 1,180,214 159,408
CounterPath Corporation Rights Deferred Share Units
Joyce, Bruce Allan Russell 4 17/07/2015 56 99,753 60,727
CounterPath Corporation Rights Deferred Share Units
Karp, David Lawrence 5 17/07/2015 56 389,160 79,704
CounterPath Corporation Rights Deferred Share Units
Matthews, Owen 4 17/07/2015 56 183,667 56,932
CounterPath Corporation Rights Deferred Share Units
Timlick, Larry Elwood 4 17/07/2015 56 181,141 60,727
Crescent Point Energy Corp. Common Shares Amirault, Rene 4 09/05/2014 00
Crescent Point Energy Corp. Common Shares Amirault, Rene 4 14/08/2015 22 1,220 1,220
Crescent Point Energy Corp. Common Shares Gillard, D. Hugh 4 14/08/2015 22 40,704 1,985
Crescent Point Energy Corp. Common Shares TISDALE, GREGORY 5 14/08/2015 22 98,311 907
Crescent Point Energy Corp. Common Shares Turnbull, Gregory George 4 14/08/2015 10 16.67 15,500 1,000
Critical Control Energy Services Corp.
Common Shares Bentham, Gary Lambert 4 17/08/2015 10 0.4 208,625 15,500
Critical Control Energy Services Corp.
Common Shares Nerland, Dennis Leroy 4, 5 17/08/2015 10 0.4 336,249 15,500
Crombie Real Estate Investment Trust
Trust Units Special Voting Empire Company Limited 3 14/08/2015 30 12.614 53,446,056 24,292
D-Box Technologies Inc. Common Shares Class A Lamarre, Jean 4 17/08/2015 10 0.34 101,000 26,000
D-Box Technologies Inc. Common Shares Class A Lamarre, Jean 4 17/08/2015 10 0.34 102,000 1,000
D-Box Technologies Inc. Common Shares Class A Lamarre, Jean 4 17/08/2015 10 0.35 132,000 30,000
Dalradian Resources Inc. Options Rutherford, James Edmund 4 24/06/2015 00
Dalradian Resources Inc. Options Rutherford, James Edmund 4 20/08/2015 50 0.9 250,000 250,000
DealNet Capital Corp. Common Shares HILMER, MICHAEL 4, 5 24/08/2012 00 1,300,000
Insider Reporting
August 27, 2015
(2015), 38 OSCB 7428
Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Price
Date/Month End Holdings
Acquired/ Disposed
DealNet Capital Corp. Common Shares HILMER, MICHAEL 4, 5 24/08/2012 00
DealNet Capital Corp. Common Shares HILMER, MICHAEL 4, 5 24/08/2012 00 3,679,694
DealNet Capital Corp. Common Shares HILMER, MICHAEL 4, 5 11/02/2015 11 4,206,009 526,315
DealNet Capital Corp. Common Shares HILMER, MICHAEL 4, 5 17/06/2015 46 4,324,430 118,421
DealNet Capital Corp. Options Kapoor, Ashish 5 17/01/2013 00 300,000
DealNet Capital Corp. Warrants Kapoor, Ashish 5 17/01/2013 00 125,000
DealNet Capital Corp. Warrants Kapoor, Ashish 5 17/01/2013 00 6,578
DealNet Capital Corp. Common Shares Leon, John Paul 5 01/07/2014 00 15,000
DealNet Capital Corp. Common Shares Leon, John Paul 5 01/07/2014 45 0.195 1,035,156 1,020,156
DealNet Capital Corp. Common Shares Leon, John Paul 5 04/06/2015 11 0.19 1,135,156 100,000
DealNet Capital Corp. Common Shares Leon, John Paul 5 01/07/2015 46 111,000
DealNet Capital Corp. Common Shares Leon, John Paul 5 01/07/2015 46 111,111
DealNet Capital Corp. Common Shares Leon, John Paul 5 01/07/2015 45 1,246,267 111,111
DealNet Capital Corp. Warrants Leon, John Paul 5 01/07/2014 00 100,000
DELPHI ENERGY CORP. Common Shares Angelidis, Tony 4, 5 13/08/2015 30 1.28 855,913 4,948
DELPHI ENERGY CORP. Common Shares Batteke, Hugo 5 13/08/2015 30 1.28 281,704 4,536
DELPHI ENERGY CORP. Common Shares CAMPBELL, HARRY SINCLAIR
4 17/08/2015 10 0.75 967,075 50,000
DELPHI ENERGY CORP. Common Shares CAMPBELL, HARRY SINCLAIR
4 19/08/2015 10 0.72 967,575 500
DELPHI ENERGY CORP. Common Shares CAMPBELL, HARRY SINCLAIR
4 20/08/2015 10 0.78 992,575 25,000
DELPHI ENERGY CORP. Common Shares Galvin, Michael 5 13/08/2015 30 1.28 90,618 4,750
DELPHI ENERGY CORP. Common Shares Hume, Rod Allan 5 13/08/2015 30 1.28 237,907 5,278
DELPHI ENERGY CORP. Common Shares Kohlhammer, Brian 5 13/08/2015 30 1.28 184,555 5,608
DELPHI ENERGY CORP. Common Shares Reid, David James 4, 5 13/08/2015 30 1.28 350,704 6,598
DELPHI ENERGY CORP. Common Shares Tolley, Lamont, Clement 4 17/08/2015 10 0.74 645,000 75,000
Detour Gold Corporation Common Shares Hibbard, Ingrid Jo-Ann 4 17/08/2015 10 14.64 64,358 -2,000
Detour Gold Corporation Common Shares Hibbard, Ingrid Jo-Ann 4 19/08/2015 10 14.68 62,358 -2,000
Diamond Estates Wines & Spirits Inc.
Common Shares Stratton, Alan Brooke 5 26/05/2014 00
Diamond Estates Wines & Spirits Inc.
Common Shares Stratton, Alan Brooke 5 05/06/2014 00
Diamond Estates Wines & Spirits Inc.
Common Shares Stratton, Alan Brooke 5 05/06/2014 50 0.25 500,000
Diamond Estates Wines & Spirits Inc.
Common Shares Stratton, Alan Brooke 5 05/06/2014 50 0.25 500,000
Diamond Estates Wines & Spirits Inc.
Options Stratton, Alan Brooke 5 05/06/2014 00 500,000
Diamond Fields International Ltd.
Options BAKER, NORMAN RODERIC
4 17/08/2015 52 0.18 200,000 -300,000
Diamond Fields International Ltd.
Options Ransome, Ian Gordon Dalryimple
4 17/08/2015 52 0.18 700,000 -250,000
Diamond Fields International Ltd.
Options SEDUN, GREGG JAMES 4 17/08/2015 52 0.18 900,000 -300,000
Diamond Fields International Ltd.
Options Young, Earl Verdelle 4, 5 17/08/2015 52 0.18 500,000 -300,000
DirectCash Payments Inc. Common Shares Moriarty, Patrick William 5 15/07/2015 00
DirectCash Payments Inc. Common Shares Moriarty, Patrick William 5 15/07/2015 00
DIRTT Environmental Solutions Ltd.
Options Baker, Tracy May 5 17/08/2015 50 6.1 215,000 100,000
DIRTT Environmental Solutions Ltd.
Options Boulais, Wayne 4 08/05/2015 00
DIRTT Environmental Solutions Ltd.
Options Boulais, Wayne 4 17/08/2015 50 6.1 25,000 25,000
DIRTT Environmental Solutions Ltd.
Options Burke, Gregory Francis 4 17/08/2015 50 6.1 125,000 25,000
DIRTT Environmental Solutions Ltd.
Options Fairholm, Lawrence David 4 17/08/2015 50 6.1 95,000 25,000
DIRTT Environmental Solutions Ltd.
Options Gosling, Geoffrey William 5 17/08/2015 50 6.1 191,666 100,000
DIRTT Environmental Solutions Ltd.
Options Jenkins, Scott Ronald 4, 5 17/08/2015 50 6.1 325,000 125,000
Insider Reporting
August 27, 2015
(2015), 38 OSCB 7429
Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Price
Date/Month End Holdings
Acquired/ Disposed
DIRTT Environmental Solutions Ltd.
Options Loberg, Barrie Arnold 5 17/08/2015 50 6.1 191,666 100,000
DIRTT Environmental Solutions Ltd.
Options McGinley, Christine Ellen 4 17/08/2015 50 6.1 75,000 25,000
DIRTT Environmental Solutions Ltd.
Options Parry, Steven Elliott 4 17/08/2015 50 6.1 50,000 25,000
DIRTT Environmental Solutions Ltd.
Options Payne, Derek 5 17/08/2015 50 6.1 200,000 50,000
DIRTT Environmental Solutions Ltd.
Options Propper de Callejon, Diana Maria
4 17/08/2015 50 6.1 50,000 25,000
DIRTT Environmental Solutions Ltd.
Options Smed, Mogens Falk 4, 5 17/08/2015 50 6.1 425,000 200,000
DIRTT Environmental Solutions Ltd.
Options Turner, Denise Eileen 4 04/08/2015 00
DIRTT Environmental Solutions Ltd.
Options Turner, Denise Eileen 4 17/08/2015 50 6.1 25,000 25,000
Diversified Royalty Corp. Common Shares Ciampi, Johnny 4 26/09/2014 00
Diversified Royalty Corp. Common Shares Ciampi, Johnny 4 19/08/2015 36 100,000 100,000
Diversified Royalty Corp. Subscription Receipts Ciampi, Johnny 4 26/09/2014 00
Diversified Royalty Corp. Subscription Receipts Ciampi, Johnny 4 18/08/2015 15 2.7 100,000 100,000
Diversified Royalty Corp. Subscription Receipts Ciampi, Johnny 4 19/08/2015 36 0 -100,000
Diversified Royalty Corp. Common Shares Morrison, Sean 5 19/08/2015 36 100,000 100,000
Diversified Royalty Corp. Subscription Receipts Morrison, Sean 5 06/08/2013 00
Diversified Royalty Corp. Subscription Receipts Morrison, Sean 5 18/08/2015 15 2.7 100,000 100,000
Diversified Royalty Corp. Subscription Receipts Morrison, Sean 5 19/08/2015 36 0 -100,000
Diversified Royalty Corp. Common Shares Rogers, Paula 4 19/08/2015 15 2.7 40,000 20,000
DMD Digital Health Connections Group Inc. (Formely Aptilon Corporation)
Common Shares Martineau, Denis 4 14/08/2015 10 0.18 11,812,754 26,000
DMD Digital Health Connections Group Inc. (Formely Aptilon Corporation)
Common Shares Martineau, Denis 4 14/08/2015 10 0.2 11,912,754 100,000
Dream Hard Asset Alternatives Trust
Units Dream Hard Asset Alternatives Trust
1 17/08/2015 38 6.3337 7,500 7,500
Dream Hard Asset Alternatives Trust
Units Dream Hard Asset Alternatives Trust
1 17/08/2015 38 0 -7,500
Dream Hard Asset Alternatives Trust
Units Dream Hard Asset Alternatives Trust
1 18/08/2015 38 6.2999 7,500 7,500
Dream Hard Asset Alternatives Trust
Units Dream Hard Asset Alternatives Trust
1 18/08/2015 38 0 -7,500
Dream Hard Asset Alternatives Trust
Units Dream Hard Asset Alternatives Trust
1 19/08/2015 38 6.3535 7,500 7,500
Dream Hard Asset Alternatives Trust
Units Dream Hard Asset Alternatives Trust
1 19/08/2015 38 0 -7,500
Dream Hard Asset Alternatives Trust
Units Dream Hard Asset Alternatives Trust
1 20/08/2015 38 6.3 7,500 7,500
Dream Hard Asset Alternatives Trust
Units Dream Hard Asset Alternatives Trust
1 20/08/2015 38 0 -7,500
Dream Hard Asset Alternatives Trust
Units Dream Hard Asset Alternatives Trust
1 21/08/2015 38 6.2288 7,500 7,500
Dream Hard Asset Alternatives Trust
Units Dream Hard Asset Alternatives Trust
1 21/08/2015 38 0 -7,500
Dream Office Real Estate Investment Trust
Trust Units Series A Dream Office Real Estate Investment Trust
1 17/08/2015 38 22.367 23,800 23,800
Dream Office Real Estate Investment Trust
Trust Units Series A Dream Office Real Estate Investment Trust
1 17/08/2015 38 0 -23,800
Dream Office Real Estate Investment Trust
Trust Units Series A Dream Office Real Estate Investment Trust
1 18/08/2015 38 22.482 25,000 25,000
Dream Office Real Estate Investment Trust
Trust Units Series A Dream Office Real Estate Investment Trust
1 18/08/2015 38 0 -25,000
Dream Office Real Estate Investment Trust
Trust Units Series A Dream Office Real Estate Investment Trust
1 19/08/2015 38 22.251 23,900 23,900
Dream Office Real Estate Investment Trust
Trust Units Series A Dream Office Real Estate Investment Trust
1 19/08/2015 38 0 -23,900
Insider Reporting
August 27, 2015
(2015), 38 OSCB 7430
Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Price
Date/Month End Holdings
Acquired/ Disposed
Dream Office Real Estate Investment Trust
Trust Units Series A Dream Office Real Estate Investment Trust
1 20/08/2015 38 21.853 25,000 25,000
Dream Office Real Estate Investment Trust
Trust Units Series A Dream Office Real Estate Investment Trust
1 20/08/2015 38 0 -25,000
Dream Office Real Estate Investment Trust
Trust Units Series A Dream Office Real Estate Investment Trust
1 21/08/2015 38 21.635 24,800 24,800
Dream Office Real Estate Investment Trust
Trust Units Series A Dream Office Real Estate Investment Trust
1 21/08/2015 38 0 -24,800
DREAM Unlimited Corp. Subordinate Voting Shares Class A
Cooper, Michael 4, 7, 5 20/08/2015 10 8.25 36,700 26,700
DREAM Unlimited Corp. Subordinate Voting Shares Class A
Cooper, Michael 4, 7, 5 21/08/2015 10 8.2063 60,000 23,300
DREAM Unlimited Corp. Subordinate Voting Shares Class A
DREAM Unlimited Corp. 1 17/08/2015 38 9.2209 13,000 13,000
DREAM Unlimited Corp. Subordinate Voting Shares Class A
DREAM Unlimited Corp. 1 17/08/2015 38 0 -13,000
DREAM Unlimited Corp. Subordinate Voting Shares Class A
DREAM Unlimited Corp. 1 18/08/2015 38 9.0231 13,000 13,000
DREAM Unlimited Corp. Subordinate Voting Shares Class A
DREAM Unlimited Corp. 1 18/08/2015 38 0 -13,000
DREAM Unlimited Corp. Subordinate Voting Shares Class A
DREAM Unlimited Corp. 1 19/08/2015 38 8.7462 13,000 13,000
DREAM Unlimited Corp. Subordinate Voting Shares Class A
DREAM Unlimited Corp. 1 19/08/2015 38 0 -13,000
DREAM Unlimited Corp. Subordinate Voting Shares Class A
DREAM Unlimited Corp. 1 20/08/2015 38 8.3215 13,000 13,000
DREAM Unlimited Corp. Subordinate Voting Shares Class A
DREAM Unlimited Corp. 1 20/08/2015 38 0 -13,000
DREAM Unlimited Corp. Subordinate Voting Shares Class A
DREAM Unlimited Corp. 1 21/08/2015 38 8.2862 13,000 13,000
DREAM Unlimited Corp. Subordinate Voting Shares Class A
DREAM Unlimited Corp. 1 21/08/2015 38 0 -13,000
DuSolo Fertilizers Inc. Options Ruxton, Peter Antony 4 15/09/2014 00
DuSolo Fertilizers Inc. Options Ruxton, Peter Antony 4 02/02/2015 50 395,000 395,000
DuSolo Fertilizers Inc. Common Shares vint, Michael 4 10/08/2015 00 45,000
DuSolo Fertilizers Inc. Options vint, Michael 4 10/08/2015 00
dynaCERT Inc. (formerly Dynamic Fuel Systems Inc.)
Common Shares Payne, Murray Ernest James
4 14/08/2015 10 0.07 3,522,000 38,500
dynaCERT Inc. (formerly Dynamic Fuel Systems Inc.)
Common Shares Payne, Murray Ernest James
4 17/08/2015 10 0.065 3,546,000 24,000
dynaCERT Inc. (formerly Dynamic Fuel Systems Inc.)
Common Shares Payne, Murray Ernest James
4 19/08/2015 10 0.06 3,554,000 8,000
dynaCERT Inc. (formerly Dynamic Fuel Systems Inc.)
Common Shares Payne, Murray Ernest James
4 20/08/2015 10 0.06 3,571,000 17,000
dynaCERT Inc. (formerly Dynamic Fuel Systems Inc.)
Common Shares Payne, Murray Ernest James
4 20/08/2015 10 0.065 3,589,000 18,000
dynaCERT Inc. (formerly Dynamic Fuel Systems Inc.)
Common Shares Payne, Murray Ernest James
4 20/08/2015 10 0.07 3,591,000 2,000
East Coast Investment Grade Income Fund
Units Arrow Capital Management Inc.
7 18/08/2015 10 9.5 2,700 1,500
Eastern Platinum Limited Common Shares Harrington Global Limited (formerly, Salida Capital International Limited)
3 17/08/2015 10 1.3058 18,519,100 275,000
Eastern Platinum Limited Common Shares Harrington Global Opportunities Fund S.à.r.l.
3 17/08/2015 10 1.3058 18,519,100 275,000
Eastmain Resources Inc. Common Shares Robinson, Donald, James 4, 5 14/08/2015 10 0.33 2,687,125 15,000
Element Financial Corporation
Deferred Share Units Bridge, Harold Dixon 4 14/08/2015 56 19.702 24,402 1,435
Element Financial Corporation
Deferred Share Units Giffin, Gordon 4 14/08/2015 56 19.702 21,547 1,797
Element Financial Corporation
Common Shares Jauernig, Dan 5 17/11/2014 00
Element Financial Corporation
Common Shares Jauernig, Dan 5 17/11/2014 00
Element Financial Corporation
Common Shares Jauernig, Dan 5 17/11/2014 00
Insider Reporting
August 27, 2015
(2015), 38 OSCB 7431
Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Price
Date/Month End Holdings
Acquired/ Disposed
Element Financial Corporation
Common Shares Jauernig, Dan 5 17/11/2014 00
Element Financial Corporation
Common Shares Jauernig, Dan 5 17/11/2014 10 14.363 52,000
Element Financial Corporation
Common Shares Jauernig, Dan 5 17/11/2014 10 14.363 52,000
Element Financial Corporation
Options Jauernig, Dan 5 17/11/2014 00
Element Financial Corporation
Options Jauernig, Dan 5 17/11/2014 00
Element Financial Corporation
Options Jauernig, Dan 5 27/02/2015 50 15.93 247,500
Element Financial Corporation
Options Jauernig, Dan 5 27/02/2015 50 15.93 247,500
Element Financial Corporation
Preferred Shares Jauernig, Dan 5 17/11/2014 00
Element Financial Corporation
Preferred Shares Jauernig, Dan 5 17/11/2014 00
Element Financial Corporation
Subscription Receipts Jauernig, Dan 5 17/11/2014 00
Element Financial Corporation
Subscription Receipts Jauernig, Dan 5 17/11/2014 00
Element Financial Corporation
Subscription Receipts Jauernig, Dan 5 29/05/2015 15 17 13,575
Element Financial Corporation
Subscription Receipts Jauernig, Dan 5 29/05/2015 15 17 13,575
Element Financial Corporation
Common Shares Jauernig, Daniel 5 17/11/2014 00
Element Financial Corporation
Common Shares Jauernig, Daniel 5 17/11/2014 10 14.363 52,000
Element Financial Corporation
Common Shares Jauernig, Daniel 5 17/11/2014 10 14.363 52,000 52,000
Element Financial Corporation
Common Shares Jauernig, Daniel 5 17/11/2014 00
Element Financial Corporation
Common Shares Jauernig, Daniel 5 17/11/2014 00 10,000
Element Financial Corporation
Options Jauernig, Daniel 5 17/11/2014 00
Element Financial Corporation
Options Jauernig, Daniel 5 17/11/2014 00
Element Financial Corporation
Options Jauernig, Daniel 5 17/11/2014 50 15.93 247,500
Element Financial Corporation
Options Jauernig, Daniel 5 17/11/2014 50 13.88 500,000 500,000
Element Financial Corporation
Options Jauernig, Daniel 5 27/02/2015 50 15.93 747,500 247,500
Element Financial Corporation
Preferred Shares Jauernig, Daniel 5 17/11/2014 00 4,600
Element Financial Corporation
Subscription Receipts Jauernig, Daniel 5 17/11/2014 00
Element Financial Corporation
Subscription Receipts Jauernig, Daniel 5 29/05/2015 15 17 13,575 13,575
Element Financial Corporation
Deferred Share Units Lamm-Tennant, Joan 5 14/08/2015 56 19.702 29,007 1,820
Element Financial Corporation
Deferred Share Units Lortie, Pierre 4 14/08/2015 56 19.702 23,726 1,313
Element Financial Corporation
Deferred Share Units Lovatt, William Wayne 4 14/08/2015 56 19.702 28,172 5,729
Element Financial Corporation
Deferred Share Units Tobin, Brian Vincent 4 14/08/2015 56 19.702 17,484 2,484
Element Financial Corporation
Deferred Share Units Venn, Richard 4 14/08/2015 56 19.702 25,246 3,049
Enbridge Income Fund Holdings Inc.
Common Shares Bird, John Richard 4 20/08/2015 10 33.052 182,500 27,800
Enbridge Income Fund Holdings Inc.
Common Shares Frank, Brian Ernst 4 21/08/2015 10 31.416 7,000 2,000
Insider Reporting
August 27, 2015
(2015), 38 OSCB 7432
Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Price
Date/Month End Holdings
Acquired/ Disposed
Enbridge Income Fund Holdings Inc.
Common Shares Waterman, Bruce G. 4 21/08/2015 10 32 66,900 1,000
Enbridge Income Fund Holdings Inc.
Common Shares Waterman, Bruce G. 4 17/01/2014 00
Enbridge Income Fund Holdings Inc.
Common Shares Waterman, Bruce G. 4 21/08/2015 10 32.25 7,100 7,100
Enbridge Income Fund Holdings Inc.
Common Shares Waterman, Bruce G. 4 21/08/2015 10 32.23 22,100 15,000
ENCANTO POTASH CORP. Warrants Keep, Gordon 4 18/08/2015 55 3,196,000 -1,037,500
Enerdynamic Hybrid Technologies Corp.
Common Shares BENT, BRUCE ROBERT PAUL
5 19/08/2015 10 0.496 1,532,515 -50,000
Enerdynamic Hybrid Technologies Corp.
Common Shares Ghezzi, Paul 5 12/08/2015 10 0.64 356,000 -176,000
Enerflex Ltd. Options Beebe, Bradley 5 17/08/2015 50 11.69 221,033 75,758
Enerflex Ltd. Rights Performance Share Units
Beebe, Bradley 5 13/08/2015 38 30,139 -957
Enerflex Ltd. Rights Performance Share Units
Beebe, Bradley 5 13/08/2015 59 18,610 -11,529
Enerflex Ltd. Rights Performance Share Units
Beebe, Bradley 5 17/08/2015 56 33,580 14,970
Enerflex Ltd. Options Breedlove, Warren Kent 5 17/08/2015 50 11.69 11,456 9,091
Enerflex Ltd. Rights Restricted Share Units
Breedlove, Warren Kent 5 17/08/2015 56 4,395 3,593
Enerflex Ltd. Rights Restricted Share Units
Funk, Laurelle 5 17/08/2015 56 4,648 2,847
Enerflex Ltd. Options Goertzen, John Blair 4, 5 17/08/2015 50 11.69 835,125 259,740
Enerflex Ltd. Rights Performance Share Units
Goertzen, John Blair 4, 5 13/08/2015 38 120,882 -4,129
Enerflex Ltd. Rights Performance Share Units
Goertzen, John Blair 4, 5 13/08/2015 59 71,157 -49,725
Enerflex Ltd. Rights Performance Share Units
Goertzen, John Blair 4, 5 17/08/2015 56 122,483 51,326
Enerflex Ltd. Options Harbilas, James 5 17/08/2015 50 11.69 412,169 118,815
Enerflex Ltd. Rights Performance Share Units
Harbilas, James 5 13/08/2015 38 52,990 -1,755
Enerflex Ltd. Rights Performance Share Units
Harbilas, James 5 13/08/2015 59 31,858 -21,132
Enerflex Ltd. Rights Performance Share Units
Harbilas, James 5 17/08/2015 56 55,336 23,478
Enerflex Ltd. Rights Performance Share Units
Ionel, Carol Ann 5 13/08/2015 38 22,182 -688
Enerflex Ltd. Rights Performance Share Units
Ionel, Carol Ann 5 13/08/2015 59 13,895 -8,287
Enerflex Ltd. Rights Performance Share Units
Ionel, Carol Ann 5 17/08/2015 56 34,417 20,522
Enerflex Ltd. Rights Phantom Share Entitlement
Khalik, Toufic 7 17/08/2015 56 159,861 74,572
Enerflex Ltd. Rights Cash Performance Target Plan
Kossman, Anna 7 01/06/2011 00
Enerflex Ltd. Rights Cash Performance Target Plan
Kossman, Anna 7 17/08/2015 56 32,276
Enerflex Ltd. Rights Cash Performance Target Plan
Kossman, Anna 7 17/08/2015 56 32,276 32,276
Enerflex Ltd. Options Martinez, Patricia 5 17/08/2015 50 11.69 116,199 85,006
Enerflex Ltd. Rights Performance Share Units
Martinez, Patricia 5 17/08/2015 56 24,809 16,798
Enerflex Ltd. Rights Performance Share Units
Moore, William Angus 5 13/08/2015 38 34,486 -1,153
Enerflex Ltd. Rights Performance Share Units
Moore, William Angus 5 13/08/2015 59 20,605 -13,881
Enerflex Ltd. Rights Performance Share Units
Moore, William Angus 5 17/08/2015 56 50,322 29,717
Enerflex Ltd. Common Shares Pyle, Phillip 5 10/08/2015 10 11.37 4,550 4,500
Enerflex Ltd. Common Shares Pyle, Phillip 5 14/08/2015 10 11.88 17,050 12,500
Enerflex Ltd. Rights Performance Share Units
Pyle, Phillip 5 17/08/2015 56 16,539 11,198
Insider Reporting
August 27, 2015
(2015), 38 OSCB 7433
Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Price
Date/Month End Holdings
Acquired/ Disposed
Enerflex Ltd. Rights Phantom Share Entitlement
Pyle, Phillip 5 01/06/2014 00
Enerflex Ltd. Rights Phantom Share Entitlement
Pyle, Phillip 5 17/08/2015 56 56,671 56,671
Enerflex Ltd. Rights Phantom Share Entitlement
Rodgers, James Kevin 7 17/08/2015 56 85,183 68,743
Enerflex Ltd. Options Rossiter, Marc Edward 5 17/08/2015 50 11.69 199,852 99,174
Enerflex Ltd. Rights Performance Share Units
Rossiter, Marc Edward 5 17/08/2015 56 28,944 19,597
Enerflex Ltd. Options Stewart, Gregory Dean 5 17/08/2015 50 11.69 199,093 64,935
Enerflex Ltd. Rights Performance Share Units
Stewart, Gregory Dean 5 13/08/2015 38 26,080 -860
Enerflex Ltd. Rights Performance Share Units
Stewart, Gregory Dean 5 13/08/2015 59 15,721 -10,359
Enerflex Ltd. Rights Performance Share Units
Stewart, Gregory Dean 5 17/08/2015 56 28,552 12,831
Enterprise Group, Inc. Common Shares JAROSZUK, LEONARD 4, 5 20/08/2015 37 1,776,856 -3,553,712
Enterprise Group, Inc. Common Shares JAROSZUK, LEONARD 4, 5 20/08/2015 10 0.3 1,806,856 30,000
Enterprise Group, Inc. Common Shares JAROSZUK, LEONARD 4, 5 20/08/2015 37 1,352,444 -2,704,888
Enterprise Group, Inc. Common Shares JAROSZUK, LEONARD 4, 5 20/08/2015 11 0.25 1,785,777 433,333
ENTREC Corporation Common Shares Fleming, Glen 5 25/06/2014 10 1.45 28,200 -20,400
ENTREC Corporation Common Shares Fleming, Glen 5 01/09/2011 00
ENTREC Corporation Common Shares Fleming, Glen 5 17/08/2015 10 0.304 496,000 496,000
ENTREC Corporation Common Shares Fleming, Glen 5 22/05/2014 10 1.4 186,140 100
ENTREC Corporation Common Shares Fleming, Glen 5 23/05/2014 10 1.4 187,840 1,700
ENTREC Corporation Common Shares Fleming, Glen 5 27/05/2014 10 1.45 215,040 27,200
ENTREC Corporation Common Shares Fleming, Glen 5 27/05/2014 10 1.41 223,940 8,900
ENTREC Corporation Common Shares Marlin, Rodney Frank 4 17/08/2015 10 0.304 440,000 150,000
ENTREC Corporation Common Shares Marlin, Rodney Frank 4 17/08/2015 10 0.304 370,200 150,000
ENTREC Corporation Convertible Debentures 7.00% Conv. Unsecured Suboridnated Deb. due Oct. 31, 2017
Marlin, Rodney Frank 4 09/12/2009 00
ENTREC Corporation Convertible Debentures 7.00% Conv. Unsecured Suboridnated Deb. due Oct. 31, 2017
Marlin, Rodney Frank 4 17/08/2015 10 60 $18,000 $18,000
ENTREC Corporation Common Shares McLeod, Gavin Russell 5 18/08/2015 10 0.3 11,920 3,070
ENTREC Corporation Common Shares Vandenberg, Jason Neil 4 20/08/2015 10 0.3 56,000 14,000
ENTREC Corporation Common Shares Vandenberg, Jason Neil 4 20/08/2015 10 0.3 66,000 10,000
ENTREC Corporation Common Shares Vandenberg, Jason Neil 4 17/08/2015 10 0.3 84,000 10,700
ENTREC Corporation Convertible Debentures 7.00% Conv. Unsecured Suboridnated Deb. due Oct. 31, 2017
Vandenberg, Jason Neil 4 17/08/2015 10 61 $126,000 $10,000
Epsilon Energy Ltd. Common Shares Epsilon Energy Ltd. 1 17/08/2015 38 2.9525 10,200 2,000
Epsilon Energy Ltd. Common Shares Epsilon Energy Ltd. 1 19/08/2015 38 2.83 12,200 2,000
Epsilon Energy Ltd. Common Shares Epsilon Energy Ltd. 1 20/08/2015 38 2.77 13,200 1,000
Equitable Group Inc. Common Shares McDonald, Lynn Marie 4 17/08/2015 10 54.06 3,550 100
Equitorial Exploration Corp. Common Shares Power, Patrick Edward 4, 5 18/08/2015 10 0.13 1,157,000 -74,000
Equitorial Exploration Corp. Common Shares Power, Patrick Edward 4, 5 19/08/2015 10 0.13 1,156,500 -500
Equity Financial Holdings Inc. (formerly, Grey Horse Corporation)
Common Shares Jones, Michael Rhoderick 4, 5 17/08/2015 10 7.1 30,129 500
Equity Financial Holdings Inc. (formerly, Grey Horse Corporation)
Common Shares Jones, Michael Rhoderick 4, 5 18/08/2015 10 7.39 30,429 300
Equity Financial Holdings Inc. (formerly, Grey Horse Corporation)
Common Shares Jones, Michael Rhoderick 4, 5 18/08/2015 10 8.21 30,629 200
Equity Financial Holdings Inc. (formerly, Grey Horse Corporation)
Common Shares Ouellet, Martin 4 19/08/2015 10 7.86 12,600 2,600
Insider Reporting
August 27, 2015
(2015), 38 OSCB 7434
Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Price
Date/Month End Holdings
Acquired/ Disposed
Equity Financial Holdings Inc. (formerly, Grey Horse Corporation)
Common Shares Ouellet, Martin 4 19/08/2015 10 8.25 13,900 1,300
Equity Financial Holdings Inc. (formerly, Grey Horse Corporation)
Common Shares Ouellet, Martin 4 19/08/2015 10 8.3 16,300 2,400
Equity Financial Holdings Inc. (formerly, Grey Horse Corporation)
Common Shares Ouellet, Martin 4 20/08/2015 10 8.1 17,400 1,100
Eskay Mining Corp Common Shares Balkam, Hugh McLellan 4 14/08/2015 10 0.125 2,806,500 3,500
Eskay Mining Corp Common Shares Balkam, Hugh McLellan 4 20/08/2015 10 0.12 2,809,500 3,000
Etrion Corporation Common Shares Soden, Garrett 4, 5 21/08/2015 10 0.31 75,000 40,000
Excellon Resources Inc. Deferred Share Units Eaton, Thor 4 14/08/2015 56 0.5 121,041 22,750
Excellon Resources Inc. Deferred Share Units Fernandez Mena, Oliver 4 14/08/2015 56 0.5 87,362 18,000
Excellon Resources Inc. Deferred Share Units Fortier, André Y. 4 14/08/2015 56 0.5 153,176 36,750
Excellon Resources Inc. Deferred Share Units McFarland, Alan Roberts 4 14/08/2015 56 0.5 148,345 39,750
Excellon Resources Inc. Deferred Share Units Ryan, Timothy J. 4 14/08/2015 56 0.5 173,125 43,500
Excelsior Mining Corp. Options Incentive Stock Sawyer, Rebecca 5 19/08/2015 50 350,000 100,000
Extendicare Inc. Common Shares Hanington, Sandra Lynn 4 05/08/2014 00
Extendicare Inc. Common Shares Hanington, Sandra Lynn 4 18/08/2015 10 8.1766 3,000 3,000
Fennec Pharmaceuticals Inc. Common Shares Lynes, Krysia Laura 5 15/08/2013 00
Fennec Pharmaceuticals Inc. Common Shares Lynes, Krysia Laura 5 14/08/2015 51 1.62 3,342 3,342
Fennec Pharmaceuticals Inc. Options Lynes, Krysia Laura 5 14/08/2015 51 1.62 41,177 -3,342
Finning International Inc. Common Shares Finning International Inc. 1 20/08/2015 38 245,600 245,600
Finning International Inc. Common Shares Finning International Inc. 1 20/08/2015 38 0 -245,600
Firm Capital Mortgage Investment Corporation
Common Shares Gilbert, Edward Allen 4 13/08/2015 10 12.45 22,954 -3,500
First Capital Realty Inc. Common Shares Kozak, Brian 5 19/08/2015 10 18.01 68,600 -2,200
First Capital Realty Inc. Common Shares Kozak, Brian 5 19/08/2015 10 18 63,500 -5,100
First National Financial Corporation
Common Shares Inglis, Robert 5 19/08/2015 10 17.8 2,523 450
First National Financial Corporation
Common Shares Inglis, Robert 5 19/08/2015 10 17.82 5,560 560
First Quantum Minerals Ltd Common Shares Rowley, Martin 4, 5 19/08/2015 10 7.625 80,967 -500
First Quantum Minerals Ltd Common Shares Rowley, Martin 4, 5 19/08/2015 10 7.62 79,067 -1,900
First Quantum Minerals Ltd Common Shares Rowley, Martin 4, 5 19/08/2015 10 7.61 77,667 -1,400
First Quantum Minerals Ltd Common Shares Rowley, Martin 4, 5 19/08/2015 10 7.6 71,967 -5,700
First Quantum Minerals Ltd Common Shares Rowley, Martin 4, 5 19/08/2015 10 7.595 71,867 -100
First Quantum Minerals Ltd Common Shares Rowley, Martin 4, 5 19/08/2015 10 7.59 5 -71,862
Foran Mining Corporation Common Shares Morcombe, Darren James 4 17/08/2015 10 0.135 10,815,500 500
Galane Gold Ltd. Common Shares Bhalla, Amar 4 17/08/2015 30 745,041 4,208
Galane Gold Ltd. Deferred Matching Shares Bhalla, Amar 4 17/08/2015 30 85,707 -4,208
Galane Gold Ltd. Options Bhalla, Amar 4 10/07/2013 52 180,000 -225,000
Galane Gold Ltd. Common Shares Egan, Ian Roy 4 17/08/2015 30 338,791 4,208
Galane Gold Ltd. Deferred Matching Shares Egan, Ian Roy 4 17/08/2015 30 85,707 -4,208
Galane Gold Ltd. Common Shares Sood, Ravi 4 17/08/2015 30 3,138,791 4,208
Galane Gold Ltd. Deferred Matching Shares Sood, Ravi 4 17/08/2015 30 85,707 -4,208
Galane Gold Ltd. Options Sood, Ravi 4 10/07/2013 52 540,000 -130,000
Galway Gold Inc. Common Shares AAV Limited 3 14/08/2015 11 0.08 28,982,394 8,694,719
Galway Metals Inc. Options SUTTON, MICHAEL WILLIAM
4 05/11/2014 00
Galway Metals Inc. Options SUTTON, MICHAEL WILLIAM
4 05/11/2014 00
Galway Metals Inc. Options SUTTON, MICHAEL WILLIAM
4 05/11/2014 00
Galway Metals Inc. Options SUTTON, MICHAEL WILLIAM
4 05/11/2014 00 400,000
Galway Metals Inc. Options SUTTON, MICHAEL WILLIAM
4 05/11/2014 50 0.1 400,000
Galway Metals Inc. Options SUTTON, MICHAEL WILLIAM
4 05/11/2014 50 0.1 400,000
Insider Reporting
August 27, 2015
(2015), 38 OSCB 7435
Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Price
Date/Month End Holdings
Acquired/ Disposed
Galway Metals Inc. Options SUTTON, MICHAEL WILLIAM
4 05/11/2014 50 0.1 400,000
Gear Energy Ltd. Common Shares Dozzi, Bryan 5 02/07/2015 00
Gear Energy Ltd. Common Shares Dozzi, Bryan 5 19/08/2015 10 1 20,000 20,000
Gear Energy Ltd. Common Shares Gillmore, Ingram 4, 5 20/08/2015 10 0.9947 580,055 10,000
Gear Energy Ltd. Common Shares Kaluski, Jason John Kenneth
5 19/08/2015 10 0.996 92,910 2,660
GeneNews Limited Options Auld, Leslie 4, 5 03/05/2015 52 2.16 683,333 -16,667
GeneNews Limited Options Dreismann, Heiner 4, 5 03/05/2015 52 2.16 699,174 -13,335
GeneNews Limited Options Dreismann, Heiner 4, 5 31/05/2015 52 2.46 745,840 -3,334
GeneNews Limited Options Dreismann, Heiner 4, 5 08/07/2015 52 2.28 734,172 -11,668
GeneNews Limited Options Dreismann, Heiner 4, 5 30/07/2015 52 1.92 730,838 -3,334
GeneNews Limited Options Glorikian, Harry 4 08/07/2015 52 2.28 520,833 -12,720
GeneNews Limited Options Howard-Tripp, James 4, 5 08/07/2015 52 2.28 945,833 -8,334
GeneNews Limited Common Shares Riggs, Rory 4 19/08/2015 11 0.32 5,193,191 1,562,500
GeneNews Limited Options Riggs, Rory 4 08/07/2015 52 2.28 291,670 -8,332
GeneNews Limited Warrants Riggs, Rory 4 19/08/2015 53 0.5 1,562,500 1,562,500
Genesis Land Development Corp.
Common Shares Mitchell, Garfield Robert 3 18/08/2015 10 3.34 11,601,535 342,400
Genesis Land Development Corp.
Common Shares Mitchell, Garfield Robert 3 21/08/2015 10 3.1 11,651,535 50,000
Genesis Land Development Corp.
Common Shares Mitchell, Garfield Robert 3 21/08/2015 10 3.05 11,701,335 49,800
Genesis Land Development Corp.
Common Shares Mitchell, Garfield Robert 3 21/08/2015 10 3.05 11,701,435 100
Genesis Land Development Corp.
Common Shares Mitchell, Garfield Robert 3 21/08/2015 10 3.05 11,701,535 100
Genesis Land Development Corp.
Common Shares Mitchell, Garfield Robert 3 21/08/2015 10 3 11,799,935 98,400
George Weston Limited Common Shares Dart, Robert John 6 14/08/2015 10 113.24 4,000 -500
George Weston Limited Common Shares Weston, W. Galen 3, 4, 5 17/08/2015 11 113.57 0 -306,945
George Weston Limited Common Shares Weston, W. Galen 3, 4, 5 14/03/2003 00
George Weston Limited Common Shares Weston, W. Galen 3, 4, 5 19/08/2015 11 113.21 306,945 306,945
Gibson Energy Inc. Common Shares Janzen, Frank 7 07/06/2011 00
Gibson Energy Inc. Common Shares Janzen, Frank 7 17/08/2015 10 100 100
Gibson Energy Inc. Common Shares Janzen, Frank 7 18/08/2015 10 600 500
Gildan Activewear Inc. Common Shares Harries, Rhodri 5 17/08/2015 00
Gildan Activewear Inc. Options Harries, Rhodri 5 17/08/2015 00
Gildan Activewear Inc. Options Harries, Rhodri 5 17/08/2015 50 42.27 282,737 282,737
Gildan Activewear Inc. Restricted Share Units Harries, Rhodri 5 17/08/2015 00
Gildan Activewear Inc. Restricted Share Units Harries, Rhodri 5 17/08/2015 56 42.27 61,919 61,919
GINSMS Inc. Convertible Debentures Lian, Yih Hann 6 22/12/2014 11 $6,255,484
GINSMS Inc. Convertible Debentures Lian, Yih Hann 6 28/09/2012 00
GINSMS Inc. Convertible Debentures Lian, Yih Hann 6 19/12/2014 11 $6,255,484 $6,255,484
Gitennes Exploration Inc. Common Shares booth, kenneth david 4, 5 14/08/2015 10 0.005 2,926,000 201,000
Glacier Media Inc. Common Shares Kennedy, Jonathon James Leslie
4, 5 16/05/2005 00
Glacier Media Inc. Common Shares Kennedy, Jonathon James Leslie
4, 5 17/08/2015 10 0.78 3,000 3,000
Glacier Media Inc. Common Shares Kennedy, Jonathon James Leslie
4, 5 17/08/2015 10 0.82 4,500 1,500
Glacier Media Inc. Common Shares Kennedy, Jonathon James Leslie
4, 5 17/08/2015 10 0.86 9,500 5,000
Glacier Media Inc. Common Shares Kennedy, Jonathon James Leslie
4, 5 17/08/2015 10 0.82 10,500 1,000
Glacier Media Inc. Common Shares Kennedy, Jonathon James Leslie
4, 5 17/08/2015 10 0.84 11,500 1,000
Glacier Media Inc. Common Shares Kennedy, Jonathon James Leslie
4, 5 17/08/2015 10 0.86 12,500 1,000
Glacier Media Inc. Common Shares Kennedy, Jonathon James Leslie
4, 5 17/08/2015 10 0.82 15,000 2,500
Glacier Media Inc. Common Shares Kennedy, Jonathon James Leslie
4, 5 19/08/2015 10 0.93 100,000 85,000
Insider Reporting
August 27, 2015
(2015), 38 OSCB 7436
Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Price
Date/Month End Holdings
Acquired/ Disposed
Glacier Media Inc. Common Shares Madison Venture Corporation
3 18/08/2015 10 0.95 6,774,512 500
Glacier Media Inc. Common Shares Madison Venture Corporation
3 18/08/2015 10 0.96 6,775,012 500
Glacier Media Inc. Common Shares Madison Venture Corporation
3 18/08/2015 10 0.97 6,777,012 2,000
Glacier Media Inc. Common Shares Madison Venture Corporation
3 19/08/2015 10 0.93 7,027,012 250,000
Glacier Media Inc. Common Shares Madison Venture Corporation
3 20/08/2015 10 0.91 7,028,012 1,000
Glacier Media Inc. Common Shares Madison Venture Corporation
3 21/08/2015 10 0.86 7,078,012 50,000
Glacier Media Inc. Common Shares McElvaine, Timothy Andrew 4 17/08/2015 10 0.7995 4,800,000 2,000,000
Glacier Media Inc. Common Shares Smysnuik, Orest 5 18/08/2015 10 0.97 71,183 2,000
Glacier Media Inc. Common Shares Smysnuik, Orest 5 18/08/2015 10 0.99 79,183 8,000
Glacier Media Inc. Common Shares Smysnuik, Orest 5 18/08/2015 10 1 81,183 2,000
Glacier Media Inc. Common Shares Smysnuik, Orest 5 19/08/2015 10 0.95 90,183 9,000
Glacier Media Inc. Common Shares Smysnuik, Orest 5 20/08/2015 10 0.91 99,183 9,000
Glacier Media Inc. Common Shares Smysnuik, Orest 5 21/08/2015 10 0.91 101,183 2,000
Global Dividend Growers Income Fund
Trust Units Global Dividend Growers Income Fund
1 20/08/2015 38 12.286 1,612,426 5,400
Global Healthcare Dividend Fund
Trust Units Global Healthcare Dividend Fund
1 20/08/2015 38 11.37 418,800 500
Global Infrastructure Dividend Fund
Trust Units Global Infrastructure Dividend Fund
1 14/08/2015 38 9.0219 753,000 3,200
Global Infrastructure Dividend Fund
Trust Units Global Infrastructure Dividend Fund
1 17/08/2015 38 9.013 755,300 2,300
Global Infrastructure Dividend Fund
Trust Units Global Infrastructure Dividend Fund
1 18/08/2015 38 9.1164 757,500 2,200
Global Infrastructure Dividend Fund
Trust Units Global Infrastructure Dividend Fund
1 19/08/2015 38 9.0835 759,800 2,300
Global Infrastructure Dividend Fund
Trust Units Global Infrastructure Dividend Fund
1 20/08/2015 38 8.9568 764,200 4,400
Global Infrastructure Dividend Fund
Trust Units Global Infrastructure Dividend Fund
1 20/08/2015 38 8.9251 769,100 4,900
God's Lake Resources Inc. Common Shares Sheridan, Michael 3, 4 19/08/2015 10 0.1 5,034,525 100,525
Gold Canyon Resources Inc. Warrants Desjardins, Julie 4 20/08/2015 55 0.4 0 -100,000
Gold Canyon Resources Inc. Warrants Hennigh, Quinton Todd 4 08/08/2015 55 0.4 0 -100,000
Gold Canyon Resources Inc. Warrants Levinson, Akiko 4, 5 20/08/2015 55 0.4 0 -218,000
Gold Canyon Resources Inc. Warrants Levinson, Peter 4 20/08/2015 55 0.4 0 -500,000
Gold Standard Ventures Corp.
Common Shares Awde, Jonathan Charles Timothy
4, 6, 5 12/08/2015 10 0.49 1,159,900 7,500
Gold Standard Ventures Corp.
Common Shares Awde, Jonathan Charles Timothy
4, 6, 5 19/08/2015 10 0.5 2,299,000 20,000
Gold Standard Ventures Corp.
Common Shares Awde, Jonathan Charles Timothy
4, 6, 5 19/08/2015 10 0.49 2,299,500 500
Gold Standard Ventures Corp.
Common Shares Awde, Jonathan Charles Timothy
4, 6, 5 19/08/2015 10 0.49 2,300,000 500
Gold Standard Ventures Corp.
Common Shares Awde, Jonathan Charles Timothy
4, 6, 5 19/08/2015 10 0.49 2,302,000 2,000
Gold Standard Ventures Corp.
Common Shares Awde, Jonathan Charles Timothy
4, 6, 5 19/08/2015 10 0.49 2,302,500 500
Gold Standard Ventures Corp.
Common Shares Awde, Jonathan Charles Timothy
4, 6, 5 19/08/2015 10 0.49 2,303,000 500
Gold Standard Ventures Corp.
Common Shares Awde, Jonathan Charles Timothy
4, 6, 5 19/08/2015 10 0.485 2,303,500 500
Gold Standard Ventures Corp.
Common Shares Awde, Jonathan Charles Timothy
4, 6, 5 19/08/2015 10 0.48 2,304,000 500
Gold Standard Ventures Corp.
Common Shares Awde, Jonathan Charles Timothy
4, 6, 5 19/08/2015 10 0.5 2,305,500 1,500
Gold Standard Ventures Corp.
Common Shares Awde, Jonathan Charles Timothy
4, 6, 5 19/08/2015 10 0.5 2,308,000 2,500
Gold Standard Ventures Corp.
Common Shares Awde, Jonathan Charles Timothy
4, 6, 5 19/08/2015 10 0.495 2,308,500 500
Insider Reporting
August 27, 2015
(2015), 38 OSCB 7437
Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Price
Date/Month End Holdings
Acquired/ Disposed
Gold Standard Ventures Corp.
Common Shares Awde, Jonathan Charles Timothy
4, 6, 5 19/08/2015 10 0.495 2,309,000 500
Gold Standard Ventures Corp.
Common Shares Awde, Jonathan Charles Timothy
4, 6, 5 19/08/2015 10 0.495 2,309,500 500
Gold Standard Ventures Corp.
Common Shares Awde, Jonathan Charles Timothy
4, 6, 5 19/08/2015 10 0.49 2,311,500 2,000
Gold Standard Ventures Corp.
Common Shares Awde, Jonathan Charles Timothy
4, 6, 5 19/08/2015 10 0.48 2,312,000 500
Gold Standard Ventures Corp.
Common Shares Awde, Jonathan Charles Timothy
4, 6, 5 19/08/2015 10 0.475 2,313,000 1,000
Gold Standard Ventures Corp.
Common Shares Awde, Jonathan Charles Timothy
4, 6, 5 19/08/2015 10 0.475 2,313,500 500
Gold Standard Ventures Corp.
Common Shares Awde, Jonathan Charles Timothy
4, 6, 5 19/08/2015 10 0.475 2,314,000 500
Golden Dawn Minerals Inc. Common Shares Wiese, Wolfgang 4, 5 19/08/2015 10 0.18 7,952,397 -2,000
Golden Hope Mines Limited Options Boilard, Dany 5 10/07/2015 50 0.5 15,000
Golden Hope Mines Limited Options Boilard, Dany 5 10/07/2015 50 0.5 15,000
GOLDEN HOPE MINES LIMITED
Options Boilard, Dany 5 16/08/2012 50 50,000
GOLDEN HOPE MINES LIMITED
Options Boilard, Dany 5 16/08/2012 50 50,000
Golden Reign Resources Ltd.
Common Shares Conlon, John 4 19/08/2015 10 0.08 11,131,557 65,000
Golden Share Mining Corporation
Common Shares Beijing Donia Resources Co., Ltd.
3 13/08/2015 37 -6,057,934
Golden Share Mining Corporation
Common Shares Beijing Donia Resources Co., Ltd.
3 13/08/2015 37 -6,057,934
Golden Share Mining Corporation
Common Shares Beijing Donia Resources Co., Ltd.
3 13/08/2015 37 3,028,466 -6,056,934
Golden Share Mining Corporation
Common Shares Beijing Donia Resources Co., Ltd.
3 13/08/2015 37 4,345,251 -8,690,503
Golden Share Mining Corporation
Warrants Beijing Donia Resources Co., Ltd.
3 13/08/2015 37 740,740 -1,481,482
Golden Share Mining Corporation
Warrants Beijing Donia Resources Co., Ltd.
3 13/08/2015 37 370,370 -740,741
Golden Share Mining Corporation
Warrants Beijing Donia Resources Co., Ltd.
3 28/06/2014 55 0 -1,611,111
Golden Share Mining Corporation
Common Shares Gao, Hua 5 13/08/2015 10 0.01 0 -15,000
Golden Share Mining Corporation
Options Gao, Hua 5 09/02/2015 52 110,000 -60,000
Golden Share Mining Corporation
Options Gao, Hua 5 13/08/2015 37 36,666 -73,334
Golden Share Mining Corporation
Common Shares Guilbaud, Christian 4 13/08/2015 37 63,333 -126,667
Golden Share Mining Corporation
Options Guilbaud, Christian 4 13/08/2015 37 30,000 -60,000
Golden Share Mining Corporation
Common Shares Huang, Demin 5 13/08/2015 37 16,466 -32,934
Golden Share Mining Corporation
Common Shares Huang, Zhen 4, 6 13/08/2015 37 4,345,251 -8,690,503
Golden Share Mining Corporation
Common Shares Huang, Zhen 4, 6 13/08/2015 37 3,028,466 -6,056,934
Golden Share Mining Corporation
Warrants Huang, Zhen 4, 6 28/06/2014 55 0 -1,611,111
Golden Share Mining Corporation
Warrants Huang, Zhen 4, 6 13/08/2015 37 740,740 -1,481,482
Golden Share Mining Corporation
Warrants Huang, Zhen 4, 6 13/08/2015 37 370,370 -740,741
Golden Share Mining Corporation
Common Shares Sinotech Minerals Exploration Co., Ltd.
3 13/08/2015 37 4,345,251 -8,690,503
Golden Share Mining Corporation
Common Shares Sinotech Minerals Exploration Co., Ltd.
3 13/08/2015 37 3,028,466 -6,056,934
Golden Share Mining Corporation
Warrants Sinotech Minerals Exploration Co., Ltd.
3 28/06/2014 55 0 -1,611,111
Golden Share Mining Corporation
Warrants Sinotech Minerals Exploration Co., Ltd.
3 13/08/2015 37 740,740 -1,481,482
Insider Reporting
August 27, 2015
(2015), 38 OSCB 7438
Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Price
Date/Month End Holdings
Acquired/ Disposed
Golden Share Mining Corporation
Warrants Sinotech Minerals Exploration Co., Ltd.
3 13/08/2015 37 370,370 -740,741
Golden Share Mining Corporation
Common Shares Zeng, Nick Nianqing 4, 5 13/08/2015 37 100,000 -200,000
Golden Share Mining Corporation
Common Shares Zeng, Nick Nianqing 4, 5 13/08/2015 37 535,333 -1,070,667
Goldrea Resources Corp. Common Shares Elbert, James Andrew 4, 5 07/08/2015 10 0.045 2,096,000 26,000
Goldrea Resources Corp. Common Shares Elbert, James Andrew 4, 5 11/08/2015 10 0.045 2,100,000 4,000
Goldrea Resources Corp. Common Shares Elbert, James Andrew 4, 5 12/08/2015 10 0.045 2,110,000 10,000
Goviex Uranium Inc. Options Boukary, Aminou 7 09/05/2014 00
Goviex Uranium Inc. Options Boukary, Aminou 7 09/05/2014 00 150,000
GPM Metals Inc. Options Murphy, Paul 5 15/08/2015 52 0.2 0 -500,000
Gran Colombia Gold Corp. Options Araujo, Maria Consuelo 5 20/08/2015 52 40 135,000 -25,000
Gran Colombia Gold Corp. Notes Silver-Linked Notes Iacono, Serafino 4, 6, 5 20/08/2015 10 139.9 $1,944,000 $42,000
Gran Colombia Gold Corp. Notes Silver-Linked Notes Iacono, Serafino 4, 6, 5 20/08/2015 10 140 $2,002,000 $58,000
Gran Colombia Gold Corp. Options Von Siegmund, Laureano 6 20/08/2015 52 40 2,200 -4,000
Gran Tierra Energy Inc. Common Shares Evans, Jim Randall 5 12/05/2015 00 190,405
Gran Tierra Energy Inc. Common Shares Evans, Jim Randall 5 12/05/2015 00
Gran Tierra Energy Inc. Common Shares Nightingale, Duncan 5 17/08/2011 00
Gran Tierra Energy Inc. Common Shares Nightingale, Duncan 5 20/08/2015 10 2.725 3,600 3,600
Gran Tierra Energy Inc. Common Shares Nightingale, Duncan 5 17/08/2011 00
Gran Tierra Energy Inc. Common Shares Nightingale, Duncan 5 20/08/2015 10 2.725 3,400 3,400
Grandview Gold Inc. Common Shares Cooper, Gordon Charles 3 04/06/2015 99 -6,031,200
Grandview Gold Inc. Common Shares Cooper, Gordon Charles 3 04/06/2015 99 86,600 -5,966,200
Granite REIT Inc. Deferred Share Units Dey, Peter James 4 14/08/2015 35 40.22 8,967 43
Great Canadian Gaming Corporation
Common Shares Keilty, Karen Anne 4 17/08/2015 10 18.81 3,000 3,000
Groundstar Resources Limited
Common Shares Hammons, Dale 4 18/08/2015 10 0.055 5,001,778 49,000
Guardian Capital Group Limited
Non-Voting Shares Class A
Christodoulou, Andrew Michael
4, 5 20/08/2015 10 17.5 14,000 2,500
Guardian Capital Group Limited
Non-Voting Shares Class A
Christodoulou, Andrew Michael
4, 5 20/08/2015 10 17.39 14,200 200
Guardian Capital Group Limited
Non-Voting Shares Class A
Christodoulou, Andrew Michael
4, 5 20/08/2015 10 17.4 14,400 200
Guardian Capital Group Limited
Non-Voting Shares Class A
Christodoulou, Andrew Michael
4, 5 20/08/2015 10 17 14,600 200
Guardian Capital Group Limited
Non-Voting Shares Class A
Christodoulou, Andrew Michael
4, 5 21/08/2015 10 17 16,500 1,900
Guyana Goldfields Inc. Common Shares Marion, Rene Louis Joseph 4 20/08/2015 51 1.54 154,000 100,000
Guyana Goldfields Inc. Common Shares Marion, Rene Louis Joseph 4 20/08/2015 10 4.21 54,000 -100,000
Guyana Goldfields Inc. Options Marion, Rene Louis Joseph 4 20/08/2015 51 1.54 50,000 -100,000
Guyana Goldfields Inc. Common Shares Murphy, Paul 5 20/08/2015 51 3.22 24,125 20,000
Guyana Goldfields Inc. Common Shares Murphy, Paul 5 20/08/2015 10 4.22 4,125 -20,000
Guyana Goldfields Inc. Options Murphy, Paul 5 20/08/2015 51 3.22 1,085,000 -20,000
Guyana Goldfields Inc. Common Shares Perhat, Walter Silvano 8 17/08/2015 51 4.25 107,300 15,000
Guyana Goldfields Inc. Common Shares Perhat, Walter Silvano 8 17/08/2015 10 4.25 92,300 -15,000
Guyana Goldfields Inc. Common Shares Perhat, Walter Silvano 8 19/08/2015 10 4.2 137,300 45,000
Guyana Goldfields Inc. Common Shares Perhat, Walter Silvano 8 19/08/2015 10 4.2 92,300 -45,000
Guyana Goldfields Inc. Common Shares Perhat, Walter Silvano 8 20/08/2015 51 4.3 107,300 15,000
Guyana Goldfields Inc. Common Shares Perhat, Walter Silvano 8 20/08/2015 10 4.3 92,300 -15,000
Guyana Goldfields Inc. Options Perhat, Walter Silvano 8 17/08/2015 51 4.25 15,000
Guyana Goldfields Inc. Options Perhat, Walter Silvano 8 17/08/2015 51 4.25 310,000 -15,000
Guyana Goldfields Inc. Options Perhat, Walter Silvano 8 19/08/2015 51 4.2 265,000 -45,000
Guyana Goldfields Inc. Options Perhat, Walter Silvano 8 20/08/2015 51 250,000 -15,000
Guyana Goldfields Inc. Common Shares Sheridan, Patrick John 4 20/08/2015 51 3.22 5,144,134 70,900
Guyana Goldfields Inc. Common Shares Sheridan, Patrick John 4 20/08/2015 10 4.35 5,073,234 -70,900
Guyana Goldfields Inc. Options Sheridan, Patrick John 4 20/08/2015 51 3.22 1,779,100 -70,900
Halogen Software Inc. Options ASHE, ROBERT GERARD 4 18/08/2015 50 9.64 66,000 7,500
Halogen Software Inc. Options Besemer, Deborah Millar 4 18/08/2015 50 9.64 32,500 32,500
Halogen Software Inc. Options Graham, Eric John 5 18/08/2015 50 9.64 17,334 5,000
Insider Reporting
August 27, 2015
(2015), 38 OSCB 7439
Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Price
Date/Month End Holdings
Acquired/ Disposed
Halogen Software Inc. Options Gruner, Harry Siegfried 4 18/08/2015 50 9.64 47,800 7,500
Halogen Software Inc. Options Hawkins, John Donald 5 18/08/2015 50 9.64 26,334 10,000
Halogen Software Inc. Options Hoult, Peter John 4 18/08/2015 50 9.64 15,000 7,500
Halogen Software Inc. Options Low, Peter John 5 18/08/2015 50 9.64 123,334 5,000
Halogen Software Inc. Performance Share Units Low, Peter John 5 13/05/2013 00
Halogen Software Inc. Options RECHAN, LESLIE 4, 5 18/08/2015 50 9.64 32,500 32,500
Halogen Software Inc. Performance Share Units RECHAN, LESLIE 4, 5 08/05/2015 00
Halogen Software Inc. Restricted Share Units RECHAN, LESLIE 4, 5 08/05/2015 00
Halogen Software Inc. Options Rugani, Philip Louis 5 18/08/2015 50 9.64 30,000
Halogen Software Inc. Options Rugani, Philip Louis 5 18/08/2015 50 9.64 30,000
Halogen Software Inc. Options Rugani, Philip Louis 5 18/08/2015 50 9.64 201,200 30,000
Halogen Software Inc. Options Williams, Timothy Valoris 4 18/08/2015 50 9.64 58,734 7,500
Healthcare Leaders Income Fund
Units Healthcare Leaders Income Fund
1 20/08/2015 38 15,000 15,000
Healthcare Leaders Income Fund
Units Healthcare Leaders Income Fund
1 20/08/2015 38 0 -15,000
Healthcare Special Opportunities Fund
Trust Units Class A Units Decter, Michael Barry Rice 7 26/06/2015 00
Healthcare Special Opportunities Fund
Trust Units Class A Units Decter, Michael Barry Rice 7 26/06/2015 00
Healthcare Special Opportunities Fund
Trust Units Class A Units Decter, Michael Barry Rice 7 26/06/2015 00
Healthcare Special Opportunities Fund
Trust Units Class A Units Decter, Michael Barry Rice 7 26/06/2015 00
Healthcare Special Opportunities Fund
Trust Units Class A Units Decter, Michael Barry Rice 7 26/06/2015 00
Healthcare Special Opportunities Fund
Trust Units Class A Units Decter, Michael Barry Rice 7 15/07/2015 00
Healthcare Special Opportunities Fund
Trust Units Class A Units Decter, Michael Barry Rice 7 15/07/2015 00
Healthcare Special Opportunities Fund
Trust Units Class A Units Decter, Michael Barry Rice 7 15/07/2015 16 9.475 291,162
Healthcare Special Opportunities Fund
Trust Units Class A Units Decter, Michael Barry Rice 7 15/07/2015 16 9.475 291,162
Healthcare Special Opportunities Fund
Trust Units Class A Units Decter, Michael Barry Rice 7 15/07/2015 16 9.475 291,162 291,162
Healthcare Special Opportunities Fund
Trust Units Class A Units McCallum, Suzanne Beryl 7 26/06/2015 00
Healthcare Special Opportunities Fund
Trust Units Class A Units McCallum, Suzanne Beryl 7 26/06/2015 00
Healthcare Special Opportunities Fund
Trust Units Class A Units McCallum, Suzanne Beryl 7 26/06/2015 00
Healthcare Special Opportunities Fund
Trust Units Class A Units McCallum, Suzanne Beryl 7 26/06/2015 00
Healthcare Special Opportunities Fund
Trust Units Class A Units McCallum, Suzanne Beryl 7 26/06/2015 00
Healthcare Special Opportunities Fund
Trust Units Class A Units McCallum, Suzanne Beryl 7 15/07/2015 00
Healthcare Special Opportunities Fund
Trust Units Class A Units McCallum, Suzanne Beryl 7 15/07/2015 00
Healthcare Special Opportunities Fund
Trust Units Class A Units McCallum, Suzanne Beryl 7 15/07/2015 16 9.475 1,413
Healthcare Special Opportunities Fund
Trust Units Class A Units McCallum, Suzanne Beryl 7 15/07/2015 16 9.475 1,413
Healthcare Special Opportunities Fund
Trust Units Class A Units McCallum, Suzanne Beryl 7 15/07/2015 16 9.475 1,413 1,413
Healthcare Special Opportunities Fund
Trust Units Class A Units Scott, Graham Wilson Shatford
7 26/06/2015 00
Healthcare Special Opportunities Fund
Trust Units Class A Units Scott, Graham Wilson Shatford
7 26/06/2015 00
Healthcare Special Opportunities Fund
Trust Units Class A Units Scott, Graham Wilson Shatford
7 26/06/2015 00
Healthcare Special Opportunities Fund
Trust Units Class A Units Scott, Graham Wilson Shatford
7 26/06/2015 00
Insider Reporting
August 27, 2015
(2015), 38 OSCB 7440
Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Price
Date/Month End Holdings
Acquired/ Disposed
Healthcare Special Opportunities Fund
Trust Units Class A Units Scott, Graham Wilson Shatford
7 26/06/2015 00
Healthcare Special Opportunities Fund
Trust Units Class A Units Scott, Graham Wilson Shatford
7 15/07/2015 00
Healthcare Special Opportunities Fund
Trust Units Class A Units Scott, Graham Wilson Shatford
7 15/07/2015 00
Healthcare Special Opportunities Fund
Trust Units Class A Units Scott, Graham Wilson Shatford
7 15/07/2015 16 9.475 1,753
Healthcare Special Opportunities Fund
Trust Units Class A Units Scott, Graham Wilson Shatford
7 15/07/2015 16 9.475 1,753
Healthcare Special Opportunities Fund
Trust Units Class A Units Scott, Graham Wilson Shatford
7 15/07/2015 16 9.475 1,753 1,753
Heron Resources Limited Common Shares Greenstone Resources L.P. 3 17/08/2015 00
Heron Resources Limited Common Shares Greenstone Resources L.P. 3 17/08/2015 16 0.122 54,131,658 54,131,658
Heroux-Devtek Inc. Unités d'actions différées/Deferred Share Units
Bourque, Nathalie 4 07/08/2015 00
Heroux-Devtek Inc. Unités d'actions différées/Deferred Share Units
Bourque, Nathalie 4 17/08/2015 56 11.35 2,203 2,203
Heroux-Devtek Inc. Unités d'actions différées/Deferred Share Units
Doré, Paule 4 17/08/2015 56 11.35 11,632 2,203
Heroux-Devtek Inc. SARS/DPVA Fontaine, Jean-Louis 4 21/08/2015 59 0.01 0 -2,000
Heroux-Devtek Inc. Unités d'actions différées/Deferred Share Units
Fontaine, Jean-Louis 4 17/08/2015 56 11.35 22,258 4,393
Heroux-Devtek Inc. Common Shares HOMSY, Nagi 5 11/08/2015 51 3.01 23,313 1,000
Heroux-Devtek Inc. Common Shares HOMSY, Nagi 5 11/08/2015 51 1.31 24,713 1,400
Heroux-Devtek Inc. Common Shares HOMSY, Nagi 5 20/08/2015 10 11.46 -2,400
Heroux-Devtek Inc. Common Shares HOMSY, Nagi 5 20/08/2015 10 11.46 24,613 -100
Heroux-Devtek Inc. Common Shares HOMSY, Nagi 5 20/08/2015 10 11.46 23,613 -1,000
Heroux-Devtek Inc. Common Shares HOMSY, Nagi 5 20/08/2015 10 11.46 23,113 -500
Heroux-Devtek Inc. Common Shares HOMSY, Nagi 5 20/08/2015 10 11.46 22,313 -800
Heroux-Devtek Inc. Options HOMSY, Nagi 5 11/08/2015 51 3.01 17,400 -1,000
Heroux-Devtek Inc. Options HOMSY, Nagi 5 11/08/2015 51 1.31 16,000 -1,400
Heroux-Devtek Inc. Unités d'actions différées/Deferred Share Units
Morin, Louis 4 17/08/2015 56 11.35 11,632 2,203
Heroux-Devtek Inc. Unités d'actions différées/Deferred Share Units
Morris, James John 4 17/08/2015 56 11.35 14,041 8,604
Heroux-Devtek Inc. Unités d'actions différées/Deferred Share Units
Raymond, Réal 4, 6 17/08/2015 56 11.35 26,737 6,382
Heroux-Devtek Inc. Unités d'actions différées/Deferred Share Units
Robbins, Brian Andrew 4 17/08/2015 56 11.35 24,470 6,583
Heroux-Devtek Inc. Unités d'actions différées/Deferred Share Units
Stevens, Andrew John 4 17/08/2015 56 11.35 11,360 8,604
High Arctic Energy Services Inc.
Common Shares High Arctic Energy Services Inc., High Arctic Energy Services Inc.
1 05/08/2015 38 3.65 36,400 3,100
High Arctic Energy Services Inc.
Common Shares High Arctic Energy Services Inc., High Arctic Energy Services Inc.
1 06/08/2015 38 3.6841 51,900 15,500
High Arctic Energy Services Inc.
Common Shares High Arctic Energy Services Inc., High Arctic Energy Services Inc.
1 07/08/2015 38 3.6728 26,500 7,900
High Arctic Energy Services Inc.
Common Shares High Arctic Energy Services Inc., High Arctic Energy Services Inc.
1 10/08/2015 38 3.7229 37,000 10,500
High Liner Foods Incorporated
Common Shares Brown, Peter Brooks 5 12/05/2014 00
High Liner Foods Incorporated
Common Shares Brown, Peter Brooks 5 14/08/2015 10 14.364 2,100 2,100
Insider Reporting
August 27, 2015
(2015), 38 OSCB 7441
Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Price
Date/Month End Holdings
Acquired/ Disposed
High Liner Foods Incorporated
Common Shares Hennigar, Andrew 4 05/11/2010 00
High Liner Foods Incorporated
Common Shares High Liner Foods Incorporated
1 20/08/2015 38 18.05 1,000 1,000
High Liner Foods Incorporated
Common Shares High Liner Foods Incorporated
1 20/08/2015 38 18.05 0 -1,000
High Liner Foods Incorporated
Common Shares O'Neill, J. Jeffery 5 01/05/2015 00
High Liner Foods Incorporated
Common Shares O'Neill, J. Jeffery 5 14/08/2015 10 18.776 4,945 4,945
HNZ Group Inc. Common Shares Wright, Matthew 5 15/08/2015 00 9
Home Capital Group Inc. Rights Deferred Share Units
Beaurivage, Jacqueline 4 14/08/2015 35 29.02 2,933 22
Home Capital Group Inc. Rights Deferred Share Units
Blowes, Robert 4 14/08/2015 35 29.02 104 1
Home Capital Group Inc. Rights Deferred Share Units
Falk, William 4 14/08/2015 35 29.02 8,839 67
Home Capital Group Inc. Rights Deferred Share Units
Graham, Diana Lynn 4 14/08/2015 35 29.02 4,603 35
Home Capital Group Inc. Rights Deferred Share Units
Marsh, John M. 4 14/08/2015 35 29.02 9,425 71
Home Capital Group Inc. Rights Deferred Share Units
Mitchell, Robert A. 4 14/08/2015 35 29.02 10,713 81
Home Capital Group Inc. Rights Deferred Share Units
Smith, Kevin 4 14/08/2015 35 29.02 30,066 226
Hudson Resources Inc. Common Shares McDonald, John Angus 4 14/08/2015 10 107,500 -30,000
Hudson Resources Inc. Common Shares McDonald, John Angus 4 17/08/2015 10 97,500 -10,000
Hudson's Bay Company Common Shares Baker, Robert C. 4 16/12/2014 47 -50,000
Hudson's Bay Company Common Shares Baker, Robert C. 4 16/12/2014 47 6,084,076 -50,000
HUMBOLDT CAPITAL CORPORATION
Common Shares Humboldt Capital Corporation
1 18/08/2015 10 0.64 3,500 3,500
HUMBOLDT CAPITAL CORPORATION
Common Shares Humboldt Capital Corporation
1 18/08/2015 38 0.64 0 -3,500
Hydrogenics Corporation Common Shares Wilson, Daryl 4, 5 14/08/2015 10 7.6 5,700 1,700
Hydrogenics Corporation Common Shares Wilson, Daryl 4, 5 14/08/2015 10 7.7386 14,000 8,300
Hydrogenics Corporation Common Shares Wilson, Daryl 4, 5 14/08/2015 10 7.76 15,100 1,100
Hydrogenics Corporation Common Shares Wilson, Daryl 4, 5 14/08/2015 10 7.79 16,000 900
IMAX Corporation Common Shares IMAX Corporation 1 12/08/2015 38 263,318 178,960
IMAX Corporation Common Shares IMAX Corporation 1 12/08/2015 38 84,358 -178,960
IMAX Corporation Common Shares IMAX Corporation 1 13/08/2015 38 268,975 184,617
IMAX Corporation Common Shares IMAX Corporation 1 13/08/2015 38 84,358 -184,617
IMAX Corporation Common Shares IMAX Corporation 1 14/08/2015 38 268,975 184,617
IMAX Corporation Common Shares IMAX Corporation 1 14/08/2015 38 84,358 -184,617
IMAX Corporation Common Shares IMAX Corporation 1 17/08/2015 38 149,137 64,779
IMAX Corporation Common Shares IMAX Corporation 1 17/08/2015 38 84,358 -64,779
IMAX Corporation Common Shares IMAX Corporation 1 18/08/2015 38 163,193 78,835
IMAX Corporation Common Shares IMAX Corporation 1 18/08/2015 38 84,358 -78,835
Imperial Metals Corporation Common Shares Lebel, Pierre 4 21/08/2015 16 8 170,724 3,000
Inca One Gold Corp. Common Shares Kelly, Edward John 4 12/08/2015 10 0.15 2,118,844 -129,000
Inca One Gold Corp. Common Shares Kelly, Edward John 4 12/08/2015 10 0.15 2,112,844 -6,000
Inca One Gold Corp. Common Shares Kelly, Edward John 4 12/08/2015 10 0.15 1,862,844 -250,000
Inca One Gold Corp. Common Shares Kelly, Edward John 4 12/08/2015 10 0.15 1,837,844 -25,000
Inca One Gold Corp. Common Shares Kelly, Edward John 4 12/08/2015 10 0.15 1,587,844 -250,000
Inca One Gold Corp. Common Shares Kelly, Edward John 4 12/08/2015 10 0.15 1,337,844 -250,000
Inca One Gold Corp. Common Shares Kelly, Edward John 4 12/08/2015 10 0.15 1,147,844 -190,000
Inca One Gold Corp. Common Shares Kelly, Edward John 4 14/08/2015 10 0.15 947,844 -200,000
Inca One Gold Corp. Common Shares Kelly, Edward John 4 14/08/2015 10 0.15 747,844 -200,000
Inca One Gold Corp. Common Shares Kelly, Edward John 4 14/08/2015 10 0.15 691,844 -56,000
Inca One Gold Corp. Common Shares Kelly, Edward John 4 14/08/2015 10 0.15 691,777 -67
Inca One Gold Corp. Common Shares Moen, George Marius 4, 5 12/08/2015 10 0.15 3,213,460 -67,700
Inca One Gold Corp. Common Shares Moen, George Marius 4, 5 12/08/2015 10 0.15 2,728,460 -485,000
Inca One Gold Corp. Common Shares Moen, George Marius 4, 5 12/08/2015 10 0.155 2,713,460 -15,000
Insider Reporting
August 27, 2015
(2015), 38 OSCB 7442
Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Price
Date/Month End Holdings
Acquired/ Disposed
Inca One Gold Corp. Common Shares Moen, George Marius 4, 5 14/08/2015 10 0.15 2,653,960 -59,500
Inca One Gold Corp. Common Shares Wright, Mark St. John 5 14/08/2015 10 0.15 253,000 -204,500
Inca One Gold Corp. Common Shares Wright, Mark St. John 5 14/08/2015 10 0.15 115,500 -137,500
Information Services Corporation
Class A Limited Voting Shares
Guglielmin, Anthony Robert 4 21/08/2015 10 14.34 5,000 2,000
InMed Pharmaceuticals Inc. (formerly Cannabis Technologies Inc,)
Options Mansour, Tarek 4 31/07/2014 00 50,000
InMed Pharmaceuticals Inc. (formerly Cannabis Technologies Inc,)
Options Mansour, Tarek 4 02/03/2015 50 0.345 125,000 75,000
InMed Pharmaceuticals Inc. (formerly Cannabis Technologies Inc,)
Common Shares Puil, Kevin 4 02/03/2015 00 78,500
InnVest Real Estate Investment Trust
Trust Units Coles, Andrew 4, 5 17/08/2015 35 5.08 81,599 547
InnVest Real Estate Investment Trust
Trust Units Irwin, Heather-Ann 4 17/08/2015 35 5.08 10,032 67
InnVest Real Estate Investment Trust
Trust Units KingSett Real Estate Growth LP No. 5
3 17/08/2015 35 5.08 24,098,389 161,614
InnVest Real Estate Investment Trust
Trust Units Love, Jon E. 4 17/08/2015 35 5.08 24,098,389 161,614
InnVest Real Estate Investment Trust
Trust Units Nappert, Chantal 5 17/08/2015 35 5.08 17,597 116
InnVest Real Estate Investment Trust
Trust Units Wolf, Robert Thomas 4 17/08/2015 35 5.08 50,999 342
Inovalis Real Estate Investment Trust
Units Tronquoy, Antoine 5 18/08/2015 10 8.99 15,700 200
Inspira Financial Inc. (formerly, Chrysalis Capital IX Corporation)
Common Shares Costine, David Clyde 4, 5 07/07/2015 00
Inspira Financial Inc. (formerly, Chrysalis Capital IX Corporation)
Common Shares Costine, David Clyde 4, 5 14/08/2015 10 0.15 100,000 100,000
INTEGRATED ASSET MANAGEMENT CORP.
Common Shares Robertson, John 4, 7 13/08/2015 51 0.9 151,318 20,000
INTEGRATED ASSET MANAGEMENT CORP.
Options Robertson, John 4, 7 13/08/2015 51 0.9 160,000 -20,000
Inter Pipeline Ltd. Common Shares Love, Alison Taylor 4 17/08/2015 10 29.29 10,136 500
Inter Pipeline Ltd. Common Shares Love, Alison Taylor 4 18/08/2015 10 29.05 10,636 500
Inter Pipeline Ltd. Common Shares McKenzie, Margaret Anne 4 06/08/2015 00
Inter Pipeline Ltd. Common Shares McKenzie, Margaret Anne 4 18/08/2015 10 28.715 5,000 5,000
Intertape Polymer Group Inc. Common Shares Bunze, George J. 4 17/08/2015 10 14.27 53,371 3,000
Intertape Polymer Group Inc. Common Shares Crystal, Jeffrey 5 18/08/2015 10 15.08 1,300
Intertape Polymer Group Inc. Common Shares Crystal, Jeffrey 5 18/08/2015 30 15.08 3,678 1,300
Intertape Polymer Group Inc. Common Shares Yull, Gregory 4, 5 17/08/2015 51 1.9 737,953 350,000
Intertape Polymer Group Inc. Common Shares Yull, Gregory 4, 5 17/08/2015 10 14.707 564,525 -173,428
Intertape Polymer Group Inc. Common Shares Yull, Gregory 4, 5 19/08/2015 10 11.228 568,525 4,000
Intertape Polymer Group Inc. Common Shares Yull, Gregory 4, 5 19/08/2015 30 11.961 572,983 4,458
Intertape Polymer Group Inc. Options Yull, Gregory 4, 5 17/08/2015 51 1.9 775,000 -350,000
Intertape Polymer Group Inc. Common Shares Yull, Melbourne F. 4 17/08/2015 10 14.38 369,604 1,475
Intertape Polymer Group Inc. Common Shares Yull, Melbourne F. 4 17/08/2015 10 14.65 41,500 1,500
Just Energy Group Inc. Common Shares BARRINGTON-FOOTE, RYAN
4 17/08/2015 10 7.55 14,500 4,000
Just Energy Group Inc. Common Shares HOLLANDS, H. CLARK 4 25/06/2015 00
Just Energy Group Inc. Common Shares HOLLANDS, H. CLARK 4 17/08/2015 10 7.45 9,800 9,800
Just Energy Group Inc. Common Shares HOLLANDS, H. CLARK 4 18/08/2015 10 7.67 15,000 5,200
KEEK INC. Common Shares Personas.com Corporation 3 14/08/2015 00
KEEK INC. Common Shares Personas.com Corporation 3 14/08/2015 16 0.2 2,000,000 2,000,000
KEEK INC. Warrants Personas.com Corporation 3 14/08/2015 00
KEEK INC. Warrants Personas.com Corporation 3 14/08/2015 16 0.2 2,000,000 2,000,000
Kelso Technologies Inc. Common Shares Lee, Richard Manning 5 14/08/2015 10 2 14,500 5,000
Kelso Technologies Inc. Common Shares Troy, William Edward 5 18/08/2015 10 1.98 1,035,056 5,000
Kelso Technologies Inc. Common Shares Troy, William Edward 5 18/08/2015 10 2.04 1,036,956 1,900
Insider Reporting
August 27, 2015
(2015), 38 OSCB 7443
Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Price
Date/Month End Holdings
Acquired/ Disposed
Kelso Technologies Inc. Options Troy, William Edward 5 12/08/2015 51 0.24 300,000 100,000
Kelt Exploration Ltd. Common Shares Guinan, William Charles 4, 5 21/08/2015 10 5.5 1,102,056 2,000
Kelt Exploration Ltd. Common Shares Lalani, Sadiq 5 20/08/2015 10 5.69 1,410,000 2,300
Kettle River Resources Ltd. Common Shares Clements, Ellen 6 17/08/2015 11 5,253,573 120,000
Keyera Corp. Common Shares Balzun, Graham Charles 5 17/08/2015 57 43.84 39,204 2,672
Keyera Corp. Common Shares Balzun, Graham Charles 5 18/08/2015 47 42.46 36,704 -2,500
Keyera Corp. Rights Share Awards Balzun, Graham Charles 5 17/08/2015 57 27,249 -13,000
Keyera Corp. Common Shares Bertram, James Vance 4, 5 17/08/2015 57 43.84 797,842 49,326
Keyera Corp. Rights Share Awards Bertram, James Vance 4, 5 17/08/2015 57 129,576 -36,000
Keyera Corp. Common Shares Freeman, Michael Andrew 5 17/08/2015 57 43.84 80,401 17,813
Keyera Corp. Rights Share Awards Freeman, Michael Andrew 5 17/08/2015 57 28,867 -13,000
Keyera Corp. Common Shares Hathaway, Suzanne 5 17/08/2015 57 43.84 18,443 4,933
Keyera Corp. Rights Share Awards Hathaway, Suzanne 5 17/08/2015 57 31,305 -9,000
Keyera Corp. Common Shares Hunter, James Richard 5 17/08/2015 57 43.84 40,342 7,536
Keyera Corp. Rights Share Awards Hunter, James Richard 5 17/08/2015 57 19,475 -11,000
Keyera Corp. Common Shares Kostiuk, Dion Otto 5 17/08/2015 57 43.84 9,222 4,740
Keyera Corp. Rights Share Awards Kostiuk, Dion Otto 5 17/08/2015 57 20,273 -6,700
Keyera Corp. Common Shares Kroeker, Steven Barney 5 17/08/2015 57 43.84 79,080 17,538
Keyera Corp. Rights Share Awards Kroeker, Steven Barney 5 17/08/2015 57 50,633 -16,000
Keyera Corp. Common Shares Lock, Bradley Wayne 5 17/08/2015 57 43.84 132,129 11,647
Keyera Corp. Rights Share Awards Lock, Bradley Wayne 5 17/08/2015 57 54,302 -17,000
Keyera Corp. Common Shares Marikar, Eileen 5 17/08/2015 57 43.84 5,272 2,084
Keyera Corp. Rights Share Awards Marikar, Eileen 5 17/08/2015 57 17,269 -2,760
Keyera Corp. Common Shares Martin, Brian 5 17/08/2015 57 43.84 21,638 4,556
Keyera Corp. Rights Share Awards Martin, Brian 5 17/08/2015 57 19,668 -3,150
Keyera Corp. Common Shares O'Connor, Thomas C. 4 18/08/2015 10 33.099 8,500 3,500
Keyera Corp. Common Shares Smith, David G. 5 17/08/2015 57 43.84 428,783 19,183
Keyera Corp. Rights Share Awards Smith, David G. 5 17/08/2015 57 117,753 -28,000
Khalkos Exploration Inc. Common Shares Guilbaud, Christian 6 21/08/2015 00 894,000
Khalkos Exploration Inc. Options Guilbaud, Christian 6 21/08/2015 00 150,000
KHAN RESOURCES INC. Common Shares Henderson, Marc Charles 4 11/08/2015 51 0.29 850,000 150,000
KHAN RESOURCES INC. Common Shares Henderson, Marc Charles 4 12/08/2015 10 0.58 845,000 -5,000
KHAN RESOURCES INC. Common Shares Henderson, Marc Charles 4 12/08/2015 10 0.57 838,000 -7,000
KHAN RESOURCES INC. Common Shares Henderson, Marc Charles 4 12/08/2015 10 0.56 815,000 -23,000
KHAN RESOURCES INC. Common Shares Henderson, Marc Charles 4 13/08/2015 10 0.55 795,000 -20,000
KHAN RESOURCES INC. Common Shares Henderson, Marc Charles 4 14/08/2015 10 0.55 772,500 -22,500
KHAN RESOURCES INC. Common Shares Henderson, Marc Charles 4 17/08/2015 10 0.54 750,000 -22,500
KHAN RESOURCES INC. Options Henderson, Marc Charles 4 11/08/2015 51 750,000 -150,000
KHAN RESOURCES INC. Options Owen, Loudon 4 20/08/2015 00
KHAN RESOURCES INC. Options Owen, Loudon 4 20/08/2015 50 0.53 200,000 200,000
KHAN RESOURCES INC. Common Shares SHAHINIAN, ERIC 4 20/08/2015 00 12,298,821
KHAN RESOURCES INC. Options SHAHINIAN, ERIC 4 20/08/2015 00
KHAN RESOURCES INC. Options SHAHINIAN, ERIC 4 20/08/2015 50 0.53 200,000 200,000
Kicking Horse Energy Inc. Common Shares Pouhkay, Paul Edward 5 21/05/2015 00
Kicking Horse Energy Inc. Common Shares Pouhkay, Paul Edward 5 21/05/2015 00
Kicking Horse Energy Inc. Common Shares Pouhkay, Paul Edward 5 31/07/2015 30 3.1488 489 489
Kicking Horse Energy Inc. Options Pouhkay, Paul Edward 5 21/05/2015 00 305,000
Kinaxis Inc. Common Shares Colbeth, Douglas Proctor 4, 5 14/08/2015 47 550,000 50,000
Kinaxis Inc. Common Shares Colbeth, Douglas Proctor 4, 5 17/08/2015 10 38.19 544,600 -5,400
Kinaxis Inc. Common Shares Colbeth, Douglas Proctor 4, 5 17/08/2015 10 38.2 544,400 -200
Kinaxis Inc. Common Shares Colbeth, Douglas Proctor 4, 5 18/08/2015 10 37.52 544,300 -100
Kinaxis Inc. Common Shares Colbeth, Douglas Proctor 4, 5 18/08/2015 10 37.65 542,300 -2,000
Kinaxis Inc. Common Shares Colbeth, Douglas Proctor 4, 5 18/08/2015 10 37.7 540,200 -2,100
Kinaxis Inc. Common Shares Colbeth, Douglas Proctor 4, 5 18/08/2015 10 37.75 537,900 -2,300
Kinaxis Inc. Common Shares Colbeth, Douglas Proctor 4, 5 18/08/2015 10 37.77 536,800 -1,100
Kinaxis Inc. Common Shares Colbeth, Douglas Proctor 4, 5 19/08/2015 10 37 500,000 -36,800
Kinaxis Inc. Common Shares Colbeth, Douglas Proctor 4, 5 14/08/2015 10 35.31 725,767 -900
Kinaxis Inc. Common Shares Colbeth, Douglas Proctor 4, 5 14/08/2015 10 35.3 725,667 -100
Insider Reporting
August 27, 2015
(2015), 38 OSCB 7444
Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Price
Date/Month End Holdings
Acquired/ Disposed
Kinaxis Inc. Common Shares Colbeth, Douglas Proctor 4, 5 14/08/2015 10 35.29 725,467 -200
Kinaxis Inc. Common Shares Colbeth, Douglas Proctor 4, 5 14/08/2015 10 35.2 651,667 -73,800
Kinaxis Inc. Common Shares Colbeth, Douglas Proctor 4, 5 14/08/2015 47 601,667 -50,000
Kinaxis Inc. Common Shares Colbeth, Douglas Proctor 4, 5 19/08/2015 47 576,667 -25,000
Kinaxis Inc. Common Shares HarbourVest Partners, LLC 3 14/08/2015 00 1,587,474
Kinaxis Inc. Common Shares HarbourVest Partners, LLC 3 14/08/2015 00 1,862,647
Kingsway Financial Services Inc.
Common Shares Baqar, Hassan Raza 5 18/08/2015 10 5.4175 29,344 130
Kingsway Financial Services Inc.
Common Shares Hickey, William A. 5 18/08/2015 10 5.4175 58,084 278
Kingsway Financial Services Inc.
Common Shares Swets, Jr., Larry Gene 3, 4, 5 18/08/2015 10 5.4175 666,765 384
Klondex Mines Ltd. Common Shares Daniel, Mark 4 24/07/2015 00
Klondex Mines Ltd. Common Shares Daniel, Mark 4 18/08/2015 10 3.4384 10,000 10,000
Klondex Mines Ltd. Options Seaberg, John W. 5 28/07/2015 00
Klondex Mines Ltd. Options Seaberg, John W. 5 28/07/2015 50 2.98 300,000 300,000
Kobex Capital Corp. Options Atkinson, Michael James 4 19/08/2015 50 0.55 385,000 100,000
Kobex Capital Corp. Options Downes, John Graham 5 19/08/2015 50 0.55 150,000 50,000
Kobex Capital Corp. Options du Toit, Philippus 5 19/08/2015 50 0.55 450,000 250,000
Kobex Capital Corp. Options Paul, Edward Kenneth 4 19/08/2015 50 0.55 300,000 100,000
Kobex Capital Corp. Options Schmidt, David 4 19/08/2015 50 0.55 300,000 100,000
Kobex Capital Corp. Options van Eeden, Paul Pieter 4 19/08/2015 50 0.55 500,000 100,000
Lara Exploration Ltd. Common Shares Thompson, Miles Frederick 4, 5 21/08/2015 10 0.24 2,515,333 50,000
Laramide Resources Ltd. Common Shares Henderson, Marc Charles 4, 5 13/08/2015 10 0.21 8,161,097 41,500
Laramide Resources Ltd. Common Shares Henderson, Marc Charles 4, 5 14/08/2015 10 0.225 8,189,597 28,500
Laramide Resources Ltd. Common Shares Henderson, Marc Charles 4, 5 17/08/2015 10 0.22 8,229,597 40,000
Laramide Resources Ltd. Common Shares Henderson, Marc Charles 4, 5 17/08/2015 10 0.23 8,269,597 40,000
Lite Access Technologies Inc. (formerly 1017341 B.C. Ltd.)
Common Shares Toyoda, Robert David 4 17/08/2015 10 1.13 67,500 -2,500
Lithium Americas Corp. Common Shares Cohn, Gary Michael 4 17/06/2014 00
Lithium Americas Corp. Common Shares Cohn, Gary Michael 4 18/08/2015 10 0.31 31,000 31,000
Lithium Americas Corp. Common Shares Kanellitsas, John 4, 5 18/08/2015 10 0.31 1,300,000 200,000
Loblaw Companies Limited Common Shares Clark, Christie James Beckett
4 17/08/2015 10 73.749 18,078 1,350
Loblaw Companies Limited Common Shares Weston, W. Galen 3, 6 17/08/2015 11 73.8 0 -2,322,547
Loblaw Companies Limited Common Shares Weston, W. Galen 3, 6 23/12/2002 00
Loblaw Companies Limited Common Shares Weston, W. Galen 3, 6 19/08/2015 11 73.43 2,322,547 2,322,547
Logistec Corporation Subordinate Voting Shares Class B
LOGISTEC CORPORATION
1 19/08/2015 38 45.66 5,300 1,000
Logistec Corporation Subordinate Voting Shares Class B
LOGISTEC CORPORATION
1 21/08/2015 38 43.68 6,300 1,000
Lorne Park Capital Partners Inc.
Common Shares Sewell, Robert Darrell 4, 5 15/08/2015 54 11,242,500 25,000
Lorne Park Capital Partners Inc.
Warrants Sewell, Robert Darrell 4, 5 15/08/2015 54 0 -25,000
Macarthur Minerals Limited Common Shares Halliday Family Trust 3 18/08/2015 11 0.02 16,200,000 5,000,000
Macarthur Minerals Limited Warrants Halliday Family Trust 3 24/07/2014 00
Macarthur Minerals Limited Warrants Halliday Family Trust 3 18/08/2015 11 5,000,000 5,000,000
Macarthur Minerals Limited Common Shares Halliday, Michael Kenneth Cron
6 18/08/2015 11 0.02 16,200,000 5,000,000
Macarthur Minerals Limited Warrants Halliday, Michael Kenneth Cron
6 24/07/2014 00
Macarthur Minerals Limited Warrants Halliday, Michael Kenneth Cron
6 18/08/2015 11 5,000,000 5,000,000
Macarthur Minerals Limited Common Shares Phillips, Alan Joseph 4 18/08/2015 11 0.02 1,200,378 1,000,378
Macarthur Minerals Limited Warrants Phillips, Alan Joseph 4 08/08/2011 00
Macarthur Minerals Limited Warrants Phillips, Alan Joseph 4 18/08/2015 11 1,000,378 1,000,378
MacMillan Minerals Inc. Options Brown, George Andrew 4, 5 18/08/2015 50 0.06 115,000 115,000
MacMillan Minerals Inc. Options Danis, William 4 28/03/2013 00
MacMillan Minerals Inc. Options Danis, William 4 18/08/2015 50 110,000 110,000
MacMillan Minerals Inc. Options Del Campo, Joseph 4 28/03/2013 00
Insider Reporting
August 27, 2015
(2015), 38 OSCB 7445
Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Price
Date/Month End Holdings
Acquired/ Disposed
MacMillan Minerals Inc. Options Del Campo, Joseph 4 18/08/2015 50 0.06 100,000 100,000
MacMillan Minerals Inc. Options Skimming, Thomas 4, 5 18/08/2015 50 0.06 115,000 115,000
MacMillan Minerals Inc. Options Yuen, Carmen, Ga-Men 5 18/08/2015 50 0.06 90,000 90,000
Macro Enterprises Inc. Options Albo, Wayne Paul 4 19/08/2015 50 105,000 30,000
Macro Enterprises Inc. Options Baker, Ronald John 4 19/08/2015 50 130,000 30,000
Macro Enterprises Inc. Options McFetridge, William James 4 19/08/2015 50 130,000 30,000
Macro Enterprises Inc. Options Miles, Frank Dorsey 3, 4, 5 19/08/2015 50 138,333 30,000
Macro Enterprises Inc. Options Nielsen, Michael 4, 5 19/08/2015 50 105,000 30,000
Macro Enterprises Inc. Options Redmond, Jeffrey Andrew 5 19/08/2015 50 105,000 30,000
Madalena Energy Inc. Common Shares Maglan Capital LP 3 14/08/2015 10 0.33 61,169,500 87,000
Madalena Energy Inc. Common Shares Maglan Capital LP 3 17/08/2015 10 0.33 61,221,500 52,000
Madalena Energy Inc. Common Shares Maglan Capital LP 3 18/08/2015 10 0.33 61,687,500 466,000
Madalena Energy Inc. Common Shares Maglan Capital LP 3 19/08/2015 10 0.31 61,837,500 150,000
Madalena Energy Inc. Common Shares Maglan Capital LP 3 19/08/2015 10 0.31 62,203,000 365,500
Madalena Energy Inc. Common Shares Maglan Capital LP 3 21/08/2015 10 0.27 62,388,000 185,000
Madalena Energy Inc. Common Shares Maglan Capital LP 3 17/08/2015 10 0.33 19,283,000 5,000
Madalena Energy Inc. Common Shares Maglan Capital LP 3 19/08/2015 10 0.31 19,302,500 19,500
Magna International Inc. Common Shares Walker, Donald James 4, 5 17/08/2015 10 69.088 0 -35,000
Manson Creek Resources Ltd.
Common Shares O'Neill, Barbara Michele 5 18/08/2015 97 0 -30,000
Manulife Financial Corporation
Common Shares Thomson, Warren A. 5 17/08/2015 30 494
Manulife Financial Corporation
Common Shares Thomson, Warren A. 5 17/08/2015 30 494
Manulife Financial Corporation
Common Shares Thomson, Warren A. 5 17/08/2015 30 494
Manulife Financial Corporation
Common Shares Thomson, Warren A. 5 17/08/2015 30 494
Manulife Financial Corporation
Common Shares Thomson, Warren A. 5 17/08/2015 30 131
Manulife Financial Corporation
Common Shares Thomson, Warren A. 5 17/08/2015 30 131
Manulife Financial Corporation
Common Shares Thomson, Warren A. 5 17/08/2015 30 131
Manulife Financial Corporation
Common Shares Thomson, Warren A. 5 17/08/2015 30 131
Manulife Financial Corporation
Rights Deferred Share Units (DSU)
Thomson, Warren A. 5 17/08/2015 30 225
Manulife Financial Corporation
Rights Deferred Share Units (DSU)
Thomson, Warren A. 5 17/08/2015 30 225
Manulife Financial Corporation
Rights Deferred Share Units (DSU)
Thomson, Warren A. 5 17/08/2015 56 22.824 187,395 171,748
Manulife Financial Corporation
Rights Deferred Share Units (DSU)
Thomson, Warren A. 5 17/08/2015 30 225
Manulife Financial Corporation
Rights Deferred Share Units (DSU)
Thomson, Warren A. 5 17/08/2015 30 225
Maple Leaf Foods Inc. Common Shares Maple Leaf Foods Inc. 1 14/08/2015 38 23.144 40,000 40,000
Maple Leaf Foods Inc. Common Shares Maple Leaf Foods Inc. 1 14/08/2015 38 0 -40,000
Maple Leaf Foods Inc. Common Shares Maple Leaf Foods Inc. 1 17/08/2015 38 22.979 83,000 83,000
Maple Leaf Foods Inc. Common Shares Maple Leaf Foods Inc. 1 17/08/2015 38 0 -83,000
Maple Leaf Foods Inc. Common Shares Maple Leaf Foods Inc. 1 18/08/2015 38 22.813 30,000 30,000
Maple Leaf Foods Inc. Common Shares Maple Leaf Foods Inc. 1 18/08/2015 38 0 -30,000
Maple Leaf Foods Inc. Common Shares Maple Leaf Foods Inc. 1 19/08/2015 38 22.278 40,000 40,000
Maple Leaf Foods Inc. Common Shares Maple Leaf Foods Inc. 1 19/08/2015 38 0 -40,000
Maple Leaf Foods Inc. Common Shares Maple Leaf Foods Inc. 1 20/08/2015 38 22.249 36,000 36,000
Maple Leaf Foods Inc. Common Shares Maple Leaf Foods Inc. 1 20/08/2015 38 0 -36,000
Martinrea International Inc. Options Options to purchase common shares
La Rosa, Andre 5 20/08/2015 59 5.75 135,000 -5,000
Matica Enterprises Inc. Common Shares Ziger, Boris Ivan 4 14/08/2015 10 0.025 2,180,000 -100,000
Matica Enterprises Inc. Common Shares Ziger, Boris Ivan 4 17/08/2015 10 0.025 2,080,000 -100,000
Matica Enterprises Inc. Common Shares Ziger, Boris Ivan 4 18/08/2015 10 0.025 1,980,000 -100,000
Insider Reporting
August 27, 2015
(2015), 38 OSCB 7446
Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Price
Date/Month End Holdings
Acquired/ Disposed
MAYA GOLD & SILVER INC. Common Shares Duke Royalty Limited (formerly Praetorian Resources Limited)
3 04/08/2015 36 15,546,429 546,429
MAYA GOLD & SILVER INC. Debentures échéance 31 décembre 2013
Duke Royalty Limited (formerly Praetorian Resources Limited)
3 04/08/2015 36 $0 -$150,000
MAYA GOLD & SILVER INC. Warrants Duke Royalty Limited (formerly Praetorian Resources Limited)
3 04/08/2015 36 0.35 546,429 546,429
MAYA GOLD & SILVER INC. Common Shares Goulet, Guy 4, 5 18/08/2015 10 0.225 714,296 1,000
MAYA GOLD & SILVER INC. Common Shares Goulet, Guy 4, 5 19/08/2015 10 0.207 715,796 1,500
MCAN Mortgage Corporation Common Shares Cruise, Brydon 4 17/08/2015 10 11.46 193,569 7,000
MCAN Mortgage Corporation Common Shares Cruise, Brydon 4 19/08/2015 10 11.75 195,569 2,000
MCAN Mortgage Corporation Common Shares Cruise, Brydon 4 20/08/2015 10 11.71 210,569 15,000
MCAN Mortgage Corporation Common Shares Cuthbert, Verna 4 19/08/2015 10 11.659 3,943 850
MCAN Mortgage Corporation Restricted Share Units Horton, Robert 5 31/03/2015 30 13.515 1,950 23
MCAN Mortgage Corporation Restricted Share Units Horton, Robert 5 31/03/2015 30 13.515 1,967 17
MCAN Mortgage Corporation Restricted Share Units Horton, Robert 5 30/06/2015 30 12.256 1,993 26
MCAN Mortgage Corporation Restricted Share Units Horton, Robert 5 30/06/2015 30 12.256 2,012 19
MCAN Mortgage Corporation Restricted Share Units Horton, Robert 5 21/08/2015 97 11.7 3,008 996
MCAN Mortgage Corporation Restricted Share Units Jandrisits, William John 4, 7, 5 21/08/2015 97 11.7 15,936 10,367
MCAN Mortgage Corporation Common Shares Pinto, Sylvia 5 30/06/2015 30 12.21 4,166 101
MCAN Mortgage Corporation Common Shares Pinto, Sylvia 5 30/06/2015 30 12.21 1,748 39
MCAN Mortgage Corporation Common Shares Pinto, Sylvia 5 30/06/2015 30 12.21 2,993 59
MCAN Mortgage Corporation Common Shares Pinto, Sylvia 5 22/06/2015 30 12.667 5,009 41
MCAN Mortgage Corporation Common Shares Pinto, Sylvia 5 30/06/2015 30 12.208 5,123 114
MCAN Mortgage Corporation Common Shares Pinto, Sylvia 5 30/06/2015 30 12.023 5,166 43
MCAN Mortgage Corporation Common Shares Pinto, Sylvia 5 16/07/2015 30 11.91 5,210 44
MCAN Mortgage Corporation Common Shares Pinto, Sylvia 5 04/08/2015 30 11.37 5,255 45
MCAN Mortgage Corporation Restricted Share Units Pinto, Sylvia 5 30/06/2015 30 12.256 2,138 26
MCAN Mortgage Corporation Restricted Share Units Pinto, Sylvia 5 30/06/2015 30 12.256 2,161 23
MCAN Mortgage Corporation Restricted Share Units Pinto, Sylvia 5 21/08/2015 97 11.7 3,397 1,236
MCAN Mortgage Corporation Common Shares Shaikh, Hassan 5 10/07/2015 57 10.9 44
MCAN Mortgage Corporation Common Shares Shaikh, Hassan 5 17/07/2015 57 10.9 72 44
MCAN Mortgage Corporation Common Shares Sutherland, Ian 3, 4 17/08/2015 10 11.45 2,170,000 562
MCAN Mortgage Corporation Common Shares Sutherland, Ian 3, 4 19/08/2015 10 11.39 2,171,200 1,200
MCAN Mortgage Corporation Common Shares Sutherland, Ian 3, 4 19/08/2015 10 11.47 2,175,300 4,100
MCAN Mortgage Corporation Common Shares Sutherland, Ian 3, 4 19/08/2015 10 11.49 2,187,200 11,900
MCAN Mortgage Corporation Common Shares Sutherland, Ian 3, 4 21/08/2015 10 11.7 2,200,000 12,800
MCAN Mortgage Corporation Common Shares Sutherland, Ian 3, 4 17/08/2015 10 11.47 640,000 4,404
MCAN Mortgage Corporation Common Shares Sutherland, Ian 3, 4 17/08/2015 10 11.32 75,000 160
MCAN Mortgage Corporation Common Shares Sutherland, Ian 3, 4 17/08/2015 10 11.32 440,000 797
Meadow Bay Gold Corporation
Common Shares Crupi, Christopher 4, 5 19/08/2015 10 0.23 2,550,930 20,000
Meadow Bay Gold Corporation
Options Crupi, Christopher 4, 5 17/08/2015 50 0.2 1,000,000 250,000
Meadow Bay Gold Corporation
Options MARGETSON, KEITH 5 17/08/2015 50 0.2 450,000 50,000
Meadow Bay Gold Corporation
Options Reed, Charles William 4 17/08/2015 50 0.2 875,000 50,000
Mediagrif Interactive Technologies Inc.
Common Shares Les Services de gestion Claude Roy Inc.
3 14/08/2015 10 17.4 2,768,300 3,300
Mediagrif Interactive Technologies Inc.
Common Shares Les Services de gestion Claude Roy Inc.
3 18/08/2015 10 17.38 2,769,400 1,100
Mediagrif Interactive Technologies Inc.
Common Shares Les Services de gestion Claude Roy Inc.
3 21/08/2015 10 17.35 2,770,000 600
Mediagrif Interactive Technologies Inc.
Common Shares Roy, Claude 3, 4, 5 14/08/2015 10 17.4 2,768,300 3,300
Mediagrif Interactive Technologies Inc.
Common Shares Roy, Claude 3, 4, 5 18/08/2015 10 17.38 2,769,400 1,100
Mediagrif Interactive Technologies Inc.
Common Shares Roy, Claude 3, 4, 5 21/08/2015 10 17.35 2,770,000 600
Insider Reporting
August 27, 2015
(2015), 38 OSCB 7447
Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Price
Date/Month End Holdings
Acquired/ Disposed
Medical Facilities Corporation
Common Shares Medical Facilities Corporation
1 17/08/2015 38 15.85 31,279,544 -300
Medical Facilities Corporation
Common Shares Medical Facilities Corporation
1 19/08/2015 38 15.85 31,275,544 -4,000
Medical Facilities Corporation
Common Shares Medical Facilities Corporation
1 20/08/2015 38 15.806 31,273,344 -2,200
Medipure Holdings Inc. Common Shares Donahue, Mark Joseph 4 20/08/2015 11 0.15 1,719,299 666,667
Medipure Holdings Inc. Common Shares Eagles Ledge Investments Inc.
3 20/08/2015 11 0.15 2,223,321 -666,667
Medipure Holdings Inc. Common Shares Garrison Construction LLC 3 20/08/2015 11 0.15 1,719,299 666,667
Medipure Holdings Inc. Common Shares Weiss, Boris 4 20/08/2015 11 0.15 2,223,321 -666,667
Melcor Real Estate Investment Trust
Trust Units LOWRY, Donald James 4 10/08/2015 10 8.1 42,100 1,500
Melcor Real Estate Investment Trust
Trust Units LOWRY, Donald James 4 10/08/2015 10 8.08 42,200 100
Melcor Real Estate Investment Trust
Trust Units LOWRY, Donald James 4 18/08/2015 10 8.15 43,500 1,300
Melcor Real Estate Investment Trust
Trust Units LOWRY, Donald James 4 20/08/2015 10 8.15 46,600 3,100
Melcor Real Estate Investment Trust
Trust Units Melcor Real Estate Investment Trust
1 18/08/2015 38 8.1833 24,420 2,400
Melcor Real Estate Investment Trust
Trust Units Melcor Real Estate Investment Trust
1 19/08/2015 38 8.1718 28,220 3,800
Melcor Real Estate Investment Trust
Trust Units Melcor Real Estate Investment Trust
1 20/08/2015 38 8.1409 30,420 2,200
Melcor Real Estate Investment Trust
Trust Units Melcor Real Estate Investment Trust
1 21/08/2015 38 8.1345 33,720 3,300
Melcor Real Estate Investment Trust
Trust Units Melton, Andrew John 6 20/08/2015 10 8.1 76,300 1,900
Melcor Real Estate Investment Trust
Trust Units Melton, Andrew John 6 21/08/2015 10 8.1 77,400 1,100
Melcor Real Estate Investment Trust
Trust Units Rayburn, Darin Anthony 6 17/08/2015 10 8.26 75,050 2,500
Melcor Real Estate Investment Trust
Trust Units Rayburn, Darin Anthony 6 18/08/2015 10 8.18 77,550 2,500
Mettrum Health Corp. Common Shares Fencott, Trevor 5 17/08/2015 10 1.4059 1,975,500 -24,500
Micromem Technologies Inc. Common Shares Fuda, Diana 5 17/08/2015 51 0.3 366,888 40,000
Micromem Technologies Inc. Common Shares Fuda, Diana 5 17/08/2015 51 0.35 596,888 230,000
Micromem Technologies Inc. Options Fuda, Diana 5 17/08/2015 51 0.3 652,500 -40,000
Micromem Technologies Inc. Options Fuda, Diana 5 17/08/2015 51 0.35 422,500 -230,000
Micromem Technologies Inc. Common Shares Fuda, Joseph 4, 5 17/08/2015 51 0.35 436,447 30,000
Micromem Technologies Inc. Options Fuda, Joseph 4, 5 17/08/2015 51 0.35 2,000,000 -30,000
Micromem Technologies Inc. Common Shares Khan, Bash 5 17/08/2015 51 0.3 96,100 95,000
Micromem Technologies Inc. Common Shares Khan, Bash 5 17/08/2015 51 0.35 161,100 65,000
Micromem Technologies Inc. Options Khan, Bash 5 17/08/2015 51 0.3 335,000 -95,000
Micromem Technologies Inc. Options Khan, Bash 5 17/08/2015 51 0.35 270,000 -65,000
Micromem Technologies Inc. Common Shares McGroarty, Martha 5 17/08/2015 51 0.3 221,099 95,000
Micromem Technologies Inc. Common Shares McGroarty, Martha 5 17/08/2015 51 0.35 306,099 85,000
Micromem Technologies Inc. Options McGroarty, Martha 5 17/08/2015 51 0.3 427,500 -95,000
Micromem Technologies Inc. Options McGroarty, Martha 5 17/08/2015 51 0.35 342,500 -85,000
Middlefield Can-Global REIT Income Fund
Trust Units Middlefield Can-Global REIT Income Fund
1 17/08/2015 38 11.964 3,300,748 900
Middlefield Can-Global REIT Income Fund
Trust Units Middlefield Can-Global REIT Income Fund
1 20/08/2015 38 11.997 3,302,448 1,700
Minfocus Exploration Corp. Common Shares Harper, Gerald 3, 4, 5 13/08/2015 10 0.01 7,979,923 10,000
Minfocus Exploration Corp. Common Shares Harper, Gerald 3, 4, 5 18/08/2015 10 0.01 7,984,923 5,000
Minfocus Exploration Corp. Common Shares Harper, Gerald 3, 4, 5 20/08/2015 10 0.01 7,989,923 5,000
MINT Income Fund Trust Units MINT Income Fund 1 18/08/2015 38 7.4718 58,530,810 2,200
MINT Income Fund Trust Units MINT Income Fund 1 19/08/2015 38 7.395 58,532,410 1,600
MINT Income Fund Trust Units MINT Income Fund 1 20/08/2015 38 7.2784 58,534,310 1,900
Mitel Networks Corporation Common Shares McBee, Richard 4, 5 21/08/2015 10 7.655 104,969 10,000
Moag Copper Gold Resources Inc.
Common Shares Jones, Bradley Leonard 3, 4, 5 19/08/2015 10 0.1 9,710,500 7,000
Insider Reporting
August 27, 2015
(2015), 38 OSCB 7448
Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Price
Date/Month End Holdings
Acquired/ Disposed
Mogo Finance Technology Inc.
Common Shares Feller, Gregory Dean 4, 5 18/08/2015 10 6.64 464,314 1,000
Mogo Finance Technology Inc.
Common Shares Mohamed, Minhas 4 19/08/2015 10 6.54 86,557 1,000
Montana Exploration Corp. Common Shares Collins, James William 4 18/08/2015 10 0.063 40,757,166 289,998
Montana Exploration Corp. Common Shares Collins, James William 4 20/08/2015 10 0.04 40,957,168 200,002
Morneau Shepell Inc. LTIP Chisholm, Robert William 5 30/01/2015 30 17.06 27,180 1,377
Morneau Shepell Inc. LTIP Chisholm, Robert William 5 30/04/2015 30 17.933 28,406 1,226
Morneau Shepell Inc. LTIP Chisholm, Robert William 5 30/07/2015 30 16.168 29,859 1,453
Morneau Shepell Inc. LTIP Denham, Gillian H. (Jill) 5 30/01/2015 30 17.06 10,560 578
Morneau Shepell Inc. LTIP Denham, Gillian H. (Jill) 5 30/04/2015 30 17.933 11,027 467
Morneau Shepell Inc. LTIP Denham, Gillian H. (Jill) 5 30/07/2015 30 16.168 11,637 610
Morneau Shepell Inc. LTIP MacDiarmid, Diane Barbara 5 30/01/2015 30 17.06 16,965 578
Morneau Shepell Inc. LTIP MacDiarmid, Diane Barbara 5 30/04/2015 30 17.933 17,473 508
Morneau Shepell Inc. LTIP MacDiarmid, Diane Barbara 5 30/07/2015 30 16.168 18,083 610
Morneau Shepell Inc. LTIP MINTZ, JACK MAURICE 5 30/01/2015 30 17.06 22,621 1,245
Morneau Shepell Inc. LTIP MINTZ, JACK MAURICE 5 30/04/2015 30 17.933 23,722 1,101
Morneau Shepell Inc. LTIP MINTZ, JACK MAURICE 5 30/07/2015 30 16.168 25,036 1,314
Morneau Shepell Inc. LTIP Morneau, Sr., William Frank 5 30/01/2015 30 17.06 9,952 542
Morneau Shepell Inc. LTIP Morneau, Sr., William Frank 5 30/04/2015 30 17.933 10,426 474
Morneau Shepell Inc. LTIP Morneau, Sr., William Frank 5 30/07/2015 30 16.168 10,998 572
Morneau Shepell Inc. LTIP Pennington, Kevin 4 03/03/2015 00
Morneau Shepell Inc. LTIP Pennington, Kevin 4 30/04/2015 30 22.409 1,031 1,031
Morneau Shepell Inc. LTIP Pennington, Kevin 4 30/07/2015 30 21.015 2,268 1,237
Morneau Shepell Inc. LTIP Rogers, John A. 5 30/01/2015 30 17.06 12,169 652
Morneau Shepell Inc. LTIP Rogers, John A. 5 30/04/2015 30 17.933 12,747 578
Morneau Shepell Inc. LTIP Rogers, John A. 5 30/07/2015 30 16.168 13,435 688
Mullen Group Ltd. Common Shares Mullen, David Edward 4 03/05/2011 00
Mullen Group Ltd. Common Shares Mullen, David Edward 4 03/05/2011 00 26,613
Mullen Group Ltd. Common Shares Mullen, David Edward 4 13/08/2015 10 18.9 0 -26,613
National Bank of Canada Common Shares Bachand, Raymond 4 04/08/2015 35 45.985 536 6
National Bank of Canada Common Shares Bachand, Raymond 4 14/08/2015 10 45.031 762 226
National Bank of Canada Unités d'actions différées (UAD) / (DSU)
Bachand, Raymond 4 04/08/2015 35 711 8
National Bank of Canada Unités d'actions différées (UAD) / (DSU)
Bachand, Raymond 4 14/08/2015 56 1,083 372
National Bank of Canada Unités d'actions assujetties à des restrictions (UAR) /(RSU)
Bertrand, Luc 5 04/08/2015 35 27,367 308
National Bank of Canada Common Shares Bertrand, Maryse 4 04/08/2015 35 45.985 31
National Bank of Canada Common Shares Bertrand, Maryse 4 04/08/2015 35 45.985 31
National Bank of Canada Common Shares Bertrand, Maryse 4 04/08/2015 35 45.985 4,306 32
National Bank of Canada Common Shares Bertrand, Maryse 4 14/08/2015 10 45.031 248
National Bank of Canada Common Shares Bertrand, Maryse 4 14/08/2015 10 45.031 248
National Bank of Canada Common Shares Bertrand, Maryse 4 14/08/2015 10 45.031 4,555 249
National Bank of Canada Unités d'actions différées (UAD) / (DSU)
Bertrand, Maryse 4 04/08/2015 35 4,916 55
National Bank of Canada Unités d'actions différées (UAD) / (DSU)
Bertrand, Maryse 4 14/08/2015 56 5,357 441
National Bank of Canada Common Shares Bloomberg, Lawrence S. 4, 7 14/08/2015 10 45.031 4,395 165
National Bank of Canada Common Shares Boivin, Pierre 4 04/08/2015 35 45.985 20
National Bank of Canada Common Shares Boivin, Pierre 4 04/08/2015 35 45.985 20
National Bank of Canada Common Shares Boivin, Pierre 4 04/08/2015 35 45.985 13,831 21
National Bank of Canada Common Shares Boivin, Pierre 4 14/08/2015 10 45.031 278
National Bank of Canada Common Shares Boivin, Pierre 4 14/08/2015 10 45.031 278
National Bank of Canada Common Shares Boivin, Pierre 4 14/08/2015 35 45.985 21
National Bank of Canada Common Shares Boivin, Pierre 4 14/08/2015 35 45.985 21
National Bank of Canada Common Shares Boivin, Pierre 4 14/08/2015 10 45.031 14,110 279
National Bank of Canada Unités d'actions différées (UAD) / (DSU)
Boivin, Pierre 4 24/04/2013 00
Insider Reporting
August 27, 2015
(2015), 38 OSCB 7449
Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Price
Date/Month End Holdings
Acquired/ Disposed
National Bank of Canada Unités d'actions différées (UAD) / (DSU)
Boivin, Pierre 4 14/08/2015 56 454 454
National Bank of Canada Unités d'actions assujetties à un critère de performance
Bonnell, William 5 04/08/2015 35 34,196 385
National Bank of Canada Unités d'actions différées (UAD) / (DSU)
Bonnell, William 5 04/08/2015 35 15,818 178
National Bank of Canada Common Shares Caillé, André 4 04/08/2015 35 45.985 12,617 141
National Bank of Canada Common Shares Caillé, André 4 14/08/2015 10 45.031 12,884 267
National Bank of Canada Unités d'actions différées (UAD) / (DSU)
Caillé, André 4 04/08/2015 35 32,072 361
National Bank of Canada Unités d'actions différées (UAD) / (DSU)
Caillé, André 4 14/08/2015 56 32,568 496
National Bank of Canada Unités d'actions différées (UAD) / (DSU)
Dagenais, Jean 5 04/08/2015 35 15,842 178
National Bank of Canada Unités d'actions assujetties à des restrictions (UAR) /(RSU)
Davis, Brian A. 7 04/08/2015 35 102,118 1,148
National Bank of Canada Common Shares Denham, Gillian H. (Jill) 4 14/08/2015 10 45.03 190
National Bank of Canada Common Shares Denham, Gillian H. (Jill) 4 14/08/2015 10 45.03 190
National Bank of Canada Common Shares Denham, Gillian H. (Jill) 4 14/08/2015 10 45.031 13,136 189
National Bank of Canada Unités d'actions différées (UAD) / (DSU)
Denham, Gillian H. (Jill) 4 04/08/2015 35 139 2
National Bank of Canada Unités d'actions assujetties à des restrictions (UAR) /(RSU)
Fagnoule, Dominique 5 04/08/2015 35 1,794 21
National Bank of Canada Unités d'actions assujetties à un critère de performance
Fagnoule, Dominique 5 04/08/2015 35 17,054 191
National Bank of Canada Unités d'actions différées (UAD) / (DSU)
Fagnoule, Dominique 5 04/08/2015 35 6,910 78
National Bank of Canada Common Shares Fortin, Richard 4 14/08/2015 10 45.031 5,769 247
National Bank of Canada Unités d'actions différées (UAD) / (DSU)
Fortin, Richard 4 04/08/2015 35 3,011 34
National Bank of Canada Unités d'actions différées (UAD) / (DSU)
Fortin, Richard 4 14/08/2015 56 3,598 587
National Bank of Canada Unités d'actions assujetties à un critère de performance
Giard, Diane 5 04/08/2015 35 79,848 898
National Bank of Canada Unités d'actions différées (UAD) / (DSU)
Giard, Diane 5 04/08/2015 35 21,427 241
National Bank of Canada Unités d'actions différées (UAD) / (DSU)
Hanczakowski, Jean-François
5 04/08/2015 35 6,450 72
National Bank of Canada Common Shares Houde, Jean 4 04/08/2015 35 45.985 37
National Bank of Canada Common Shares Houde, Jean 4 04/08/2015 35 45.985 37
National Bank of Canada Common Shares Houde, Jean 4 04/08/2015 35 45.985 13,982 38
National Bank of Canada Common Shares Houde, Jean 4 14/08/2015 10 45.031 14,137 155
National Bank of Canada Unités d'actions assujetties à un critère de performance
Jeanniot, Lynn 5 04/08/2015 35 28,016 315
National Bank of Canada Unités d'actions différées (UAD) / (DSU)
Jeanniot, Lynn 5 04/08/2015 35 8,405 95
National Bank of Canada Common Shares Kinsley, Karen 4 04/08/2015 35 45.985 7,614 3
National Bank of Canada Common Shares Kinsley, Karen 4 14/08/2015 10 45.031 7,839 225
National Bank of Canada Unités d'actions différées (UAD) / (DSU)
Kinsley, Karen 4 04/08/2015 35 430 5
National Bank of Canada Unités d'actions différées (UAD) / (DSU)
Kinsley, Karen 4 14/08/2015 56 802 372
National Bank of Canada Common Shares Laflamme, Louise 4 14/08/2015 10 45.031 17,794 210
National Bank of Canada Unités d'actions différées (UAD) / (DSU)
Laflamme, Louise 4 04/08/2015 35 11,445 129
National Bank of Canada Unités d'actions assujetties à des restrictions (UAR) /(RSU)
Leggett, Karen 5 04/08/2015 35 3,991 44
Insider Reporting
August 27, 2015
(2015), 38 OSCB 7450
Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Price
Date/Month End Holdings
Acquired/ Disposed
National Bank of Canada Unités d'actions assujetties à un critère de performance
Leggett, Karen 5 04/08/2015 35 31,979 359
National Bank of Canada Unités d'actions différées (UAD) / (DSU)
Leggett, Karen 5 04/08/2015 35 7,987 90
National Bank of Canada Unités d'actions différées (UAD) / (DSU)
Legris, Alain 5 04/08/2015 35 16,847 189
National Bank of Canada Unités d'actions différées (UAD) / (DSU)
Marchand, Elaine 5 04/08/2015 35 1,895 21
National Bank of Canada Unités d'actions assujetties à un critère de performance
Paiement, Luc 5 04/08/2015 35 79,848 898
National Bank of Canada Unités d'actions différées (UAD) / (DSU)
Paiement, Luc 5 04/08/2015 35 58,796 661
National Bank of Canada Unités d'actions assujetties à un critère de performance
Parent, Ghislain 5 04/08/2015 35 34,196 385
National Bank of Canada Unités d'actions différées (UAD) / (DSU)
Parent, Ghislain 5 04/08/2015 35 23,539 265
National Bank of Canada Unités d'actions assujetties à des restrictions (UAR) /(RSU)
Pascoe, Ricardo 5 04/08/2015 35 110,053 1,237
National Bank of Canada Unités d'actions assujetties à un critère de performance
Pascoe, Ricardo 5 04/08/2015 35 74,675 839
National Bank of Canada Common Shares Payette, Julie 4 04/08/2015 35 45.985 9
National Bank of Canada Common Shares Payette, Julie 4 04/08/2015 35 45.985 9
National Bank of Canada Common Shares Payette, Julie 4 04/08/2015 35 45.985 779 9
National Bank of Canada Common Shares Payette, Julie 4 14/08/2015 10 45.031 989 210
National Bank of Canada Unités d'actions différées (UAD) / (DSU)
Payette, Julie 4 04/08/2015 35 1,033 12
National Bank of Canada Unités d'actions différées (UAD) / (DSU)
Payette, Julie 4 14/08/2015 56 1,350 317
National Bank of Canada Common Shares Runte, Roseann 4 04/08/2015 35 45.985 14,434 114
National Bank of Canada Common Shares Runte, Roseann 4 14/08/2015 10 45.031 14,615 181
National Bank of Canada Unités d'actions différées (UAD) / (DSU)
Runte, Roseann 4 04/08/2015 35 432
National Bank of Canada Unités d'actions différées (UAD) / (DSU)
Runte, Roseann 4 04/08/2015 35 432
National Bank of Canada Unités d'actions différées (UAD) / (DSU)
Runte, Roseann 4 04/08/2015 35 38,495 433
National Bank of Canada Unités d'actions différées (UAD) / (DSU)
Runte, Roseann 4 14/08/2015 56 38,798 303
National Bank of Canada Common Shares Saputo, Lino Anthony 4 04/08/2015 35 45.985 4,902 31
National Bank of Canada Common Shares Saputo, Lino Anthony 4 14/08/2015 10 45.031 5,112 210
National Bank of Canada Unités d'actions différées (UAD) / (DSU)
Saputo, Lino Anthony 4 04/08/2015 35 4,271 48
National Bank of Canada Unités d'actions différées (UAD) / (DSU)
Saputo, Lino Anthony 4 14/08/2015 56 4,588 317
National Bank of Canada Common Shares Savoie, Andrée 4 04/08/2015 35 45.985 172 2
National Bank of Canada Common Shares Savoie, Andrée 4 14/08/2015 10 45.031 551 379
National Bank of Canada Common Shares Thabet, Pierre 4 04/08/2015 35 45.985 3,501 39
National Bank of Canada Common Shares Thabet, Pierre 4 14/08/2015 10 45.031 3,711 210
National Bank of Canada Unités d'actions différées (UAD) / (DSU)
Thabet, Pierre 4 04/08/2015 35 5,790 65
National Bank of Canada Unités d'actions différées (UAD) / (DSU)
Thabet, Pierre 4 14/08/2015 56 6,107 317
National Bank of Canada Unités d'actions assujetties à un critère de performance
Vachon, Louis 4, 5 04/08/2015 35 205,642 2,312
Neovasc Inc. Common Shares Bebeau, Vicki Lee 5 08/05/2014 00
Nerium Biotechnology, Inc. Common Shares JONES, LORI 5 26/06/2015 00 4,000
Nevada Sunrise Gold Corporation
Common Shares Sweatman, Michael 4 18/08/2015 10 0.16 123,000 1,000
Nevada Sunrise Gold Corporation
Common Shares Sweatman, Michael 4 21/08/2015 10 0.16 126,500 3,500
Insider Reporting
August 27, 2015
(2015), 38 OSCB 7451
Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Price
Date/Month End Holdings
Acquired/ Disposed
Newfoundland Capital Corporation Limited
Options Lurie, Ian 5 06/07/2015 00
Newfoundland Capital Corporation Limited
Options Lurie, Ian 5 13/08/2015 50 9.69 100,000 100,000
Newfoundland Capital Corporation Limited
Subordinate Voting Shares Class A
Weatherby, Scott G.M. 5 19/08/2015 30 8.94 25,153 546
Newmarket Gold Inc. Common Shares Lamond, Rodney 5 19/08/2015 51 0.4071 974,725 736,800
Newmarket Gold Inc. Common Shares Lamond, Rodney 5 19/08/2015 51 0.5293 1,343,125 368,400
Newmarket Gold Inc. Common Shares Lamond, Rodney 5 19/08/2015 51 0.5293 1,711,525 368,400
Newmarket Gold Inc. Common Shares Lamond, Rodney 5 19/08/2015 10 1.0119 237,925 -1,473,600
Newmarket Gold Inc. Options Lamond, Rodney 5 19/08/2015 51 1,418,800 -736,800
Newmarket Gold Inc. Options Lamond, Rodney 5 19/08/2015 50 -368,400
Newmarket Gold Inc. Options Lamond, Rodney 5 19/08/2015 50 -368,400
Newmarket Gold Inc. Options Lamond, Rodney 5 19/08/2015 99 -368,400
Newmarket Gold Inc. Options Lamond, Rodney 5 19/08/2015 99 -368,400
Newmarket Gold Inc. Options Lamond, Rodney 5 19/08/2015 51 1,050,400 -368,400
Newmarket Gold Inc. Options Lamond, Rodney 5 19/08/2015 51 682,000 -368,400
Newmarket Gold Inc. Common Shares Miller, III, Lloyd I. 3 14/08/2015 10 0.7881 4,059,735 40,400
Nexus Gold Corp. Common Shares Klenman, Alexander 4 18/08/2015 10 0.112 1,728,799 2,000
Nexus Gold Corp. Common Shares Klenman, Alexander 4 20/08/2015 10 0.11 67,500 -27,500
NGEx Resources Inc. Options Lundin, Lukas Henrik 4, 5 21/08/2015 52 350,000 -200,000
NGEx Resources Inc. Options Mir, Pablo 7 21/08/2015 52 1.65 107,500 -50,000
NGEx Resources Inc. Options Rand, William Archibald 4 21/08/2015 52 1.65 350,000 -200,000
NGEx Resources Inc. Options Vodola, Antonietta (Toni) 5 21/08/2015 52 1.65 97,500 -25,000
NGEx Resources Inc. Options Wodzicki, Wojtek Alexander 4, 5 21/08/2015 52 1.65 875,000 -350,000
Nobilis Health Corp. (formerly Northstar Healthcare Inc.)
Common Shares Lloyd, Christopher 5 04/08/2015 11 6.8 3,143,746 1,077,312
Norbord Inc. Common Shares Brookfield Asset Management Inc.
3 21/05/2015 11 27.08 0 -265,641
Norbord Inc. Common Shares Brookfield Asset Management Inc.
3 21/05/2015 11 27.08 11,359,634 265,641
North American Energy Partners Inc.
Notes NOACN 9 1/8 Ferron, Martin Robert 4, 5 14/08/2015 38 1E+06 $557,100 -$1,043,000
North American Energy Partners Inc.
Notes NOACN 9 1/8 Ferron, Martin Robert 4, 5 17/08/2015 10 763125 $1,307,100 $750,000
North American Energy Partners Inc.
Common Shares North American Energy Partners
1 14/08/2015 10 2.55 4,300 4,300
North American Energy Partners Inc.
Common Shares North American Energy Partners
1 14/08/2015 38 0 -4,300
North American Energy Partners Inc.
Notes NOACN 9 1/8 Turner, K. Rick 4 14/08/2015 38 39593 $21,000 -$39,000
North American Energy Partners Inc.
Notes NOACN 9 1/8 Turner, K. Rick 4 14/08/2015 38 40608 $20,000 -$40,000
North American Energy Partners Inc.
Notes NOACN 9 1/8 Turner, K. Rick 4 14/08/2015 38 39593 $21,000 -$39,000
North American Palladium Ltd.
Common Shares Napierala, Christine Audrey 5 12/08/2015 00 121
North South Petroleum Corp. Common Shares Cernovitch, Marc 4, 5 14/08/2015 10 0.2 20,000 10,000
North South Petroleum Corp. Common Shares DeMare, Nick 3 19/08/2015 10 0.2 4,044,500 20,000
North South Petroleum Corp. Common Shares East West Petroleum Corp. 3 19/08/2015 10 0.2 4,044,500 20,000
Northern Abitibi Mining Corp. Common Shares O'Neill, Barbara Michele 5 18/08/2015 97 0 -139,600
Northern Blizzard Resources Inc.
Common Shares Kvisle, Harold N. 4 17/08/2015 10 3.65 132,500 10,000
Northern Blizzard Resources Inc.
Common Shares NGP IX Northern Blizzard S.A. R.L.
3 17/08/2015 35 44,935,911 874,671
Northern Blizzard Resources Inc.
Common Shares R/C Canada Cooperatief U.A.
3 17/08/2015 35 30,568,867 595,019
Northern Frontier Corp. (formerly Frontier Acquisition Corp.)
Common Shares Clarke Inc. 3 12/08/2015 10 0.55 3,725,200 21,000
Northern Frontier Corp. (formerly Frontier Acquisition Corp.)
Common Shares Clarke Inc. 3 13/08/2015 10 0.55 3,727,700 2,500
Insider Reporting
August 27, 2015
(2015), 38 OSCB 7452
Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Price
Date/Month End Holdings
Acquired/ Disposed
Northern Frontier Corp. (formerly Frontier Acquisition Corp.)
Common Shares Clarke Inc. 3 14/08/2015 10 0.52 3,732,700 5,000
Northern Frontier Corp. (formerly Frontier Acquisition Corp.)
Common Shares Clarke Inc. 3 17/08/2015 10 0.55 3,746,200 13,500
Northern Frontier Corp. (formerly Frontier Acquisition Corp.)
Common Shares Creswell, Bradford 4 17/08/2015 10 0.59 333,729 47,150
Northern Frontier Corp. (formerly Frontier Acquisition Corp.)
Common Shares Haynes, Trevor 4 17/08/2015 10 0.65 458,488 600
Northern Frontier Corp. (formerly Frontier Acquisition Corp.)
Common Shares Haynes, Trevor 4 18/08/2015 10 0.6 462,988 4,500
Northern Frontier Corp. (formerly Frontier Acquisition Corp.)
Common Shares Jacobs, John 4 17/08/2015 10 0.59 338,466 41,750
Northland Power Inc. Deferred Rights Crawley, Mike 5 20/07/2015 00
Northland Power Inc. Deferred Rights Crawley, Mike 5 13/08/2015 56 60,000 60,000
NorthWest Healthcare Properties Real Estate Investment Trust
Deferred Units Brady, Michael 5 09/07/2015 00 111,537
NorthWest Healthcare Properties Real Estate Investment Trust
Deferred Units Brady, Michael 5 19/08/2015 36 8.01 113,056 1,519
NorthWest Healthcare Properties Real Estate Investment Trust
Deferred Units Crotty, Bernard W. 4 14/08/2015 38 7.83 183,481 -1,277
NSR Resources Inc. Promissory Notes Grid Promissory Note per Loan Agreement
rassmuss, juan 3, 4, 5 17/08/2015 11 $3,911,895 $60,000
Nuinsco Resources Limited Options Jones, Paul, Latimer 4, 5 02/02/2009 52 1,200,000 -150,000
Nuinsco Resources Limited Options Jones, Paul, Latimer 4, 5 28/08/2012 52 2,400,000 -50,000
Nuinsco Resources Limited Options Wardell, Robert 4 13/12/2011 55 -350,000
Nuinsco Resources Limited Options Wardell, Robert 4 13/12/2011 52 1,800,000 -350,000
Nuinsco Resources Limited Options Wardell, Robert 4 21/12/2012 52 2,050,000 -50,000
Nuinsco Resources Limited Options Wardell, Robert 4 12/03/2014 52 2,100,000 -400,000
Nuinsco Resources Limited Options Wardell, Robert 4 04/01/2015 55 -800,000
Nuinsco Resources Limited Options Wardell, Robert 4 04/01/2015 52 1,300,000 -800,000
Oando Energy Resources Inc. (formerly Exile Resources Inc.)
Common Shares Oando Plc 3 04/07/2015 90 648,930,639 -1,855,100
Oando Energy Resources Inc. (formerly Exile Resources Inc.)
Common Shares Oando Plc 3 24/07/2012 00
Oando Energy Resources Inc. (formerly Exile Resources Inc.)
Common Shares Oando Plc 3 04/07/2015 90 1,855,100 1,855,100
Olivut Resources Ltd. Common Shares Keough, Leni Edna Florence
4, 5 17/08/2015 10 0.085 603,031 3,000
Olympia Financial Group Inc. Common Shares Skauge, Rick 3, 4, 5 21/08/2015 10 25.5 235 175
Olympia Financial Group Inc. Common Shares Skauge, Rick 3, 4, 5 21/08/2015 10 25.5 11,531 970
Orca Gold Inc. Common Shares Davidson, Alexander John 4 20/08/2015 10 0.175 123,833 -9,500
Orca Gold Inc. Common Shares Davidson, Alexander John 4 20/08/2015 10 0.17 84,000 -39,833
Orefinders Resources Inc. Common Shares Stewart, Stephen Alexander Nelson
4 17/08/2015 10 0.01 561,000 291,000
Orefinders Resources Inc. Common Shares Stewart, Stephen Alexander Nelson
4 18/08/2015 10 0.01 572,000 11,000
OREX MINERALS INC. Common Shares Whiting, Bernard Henry 5 14/08/2015 00 316,400
OREX MINERALS INC. Common Shares Whiting, Bernard Henry 5 14/08/2015 00 240,000
OREX MINERALS INC. Options Whiting, Bernard Henry 5 14/08/2015 00 650,000
OREX MINERALS INC. Warrants Whiting, Bernard Henry 5 14/08/2015 00 148,000
OREX MINERALS INC. Warrants Whiting, Bernard Henry 5 14/08/2015 00 90,000
Oryx Petroleum Corporation Limited
Options Ebsary, Michael Samuel 4, 5 12/08/2015 52 33,521 -62,679
Insider Reporting
August 27, 2015
(2015), 38 OSCB 7453
Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Price
Date/Month End Holdings
Acquired/ Disposed
Oryx Petroleum Corporation Limited
Options Gandur, Jean Claude 4 12/08/2015 52 61,516 -117,907
Oryx Petroleum Corporation Limited
Common Shares Kelly, Craig Edward 5 14/08/2015 51 575,719 39,179
Oryx Petroleum Corporation Limited
Options Kelly, Craig Edward 5 14/08/2015 51 20,951 -39,179
Oryx Petroleum Corporation Limited
Options Querio, Vance Barton 5 12/08/2015 52 15,090 -27,296
Oryx Petroleum Corporation Limited
Common Shares Shillington, Paul Michael 5 14/08/2015 51 329,516 33,303
Oryx Petroleum Corporation Limited
Options Shillington, Paul Michael 5 14/08/2015 51 17,808 -33,303
OSISKO GOLD ROYALTIES LTD
Common Shares Burzynski, John Feliks 4, 5 17/07/2015 10 14.6 -10,000
OSISKO GOLD ROYALTIES LTD
Common Shares Burzynski, John Feliks 4, 5 17/07/2015 10 14.6 368,400 10,000
OSISKO GOLD ROYALTIES LTD
Common Shares Burzynski, John Feliks 4, 5 20/08/2015 10 16.26 352,700 -3,000
OSISKO GOLD ROYALTIES LTD
Common Shares Lemire, André 7 20/08/2015 10 16.4 74,971 -10,000
Pacific & Western Bank of Canada
Common Shares 340268 Ontario Limited 3 17/08/2015 10 5.05 90,154 5,000
Pacific & Western Bank of Canada
Common Shares 340268 Ontario Limited 3 18/08/2015 10 5.15 92,554 2,400
Pacific & Western Bank of Canada
Common Shares Brabander, Robbert-Jan 4, 6 19/08/2015 10 5.44 8,805 1,500
Pacific & Western Bank of Canada
Common Shares George, Patrick 6 11/08/2015 10 5.05 91,228 1,900
Pacific & Western Bank of Canada
Common Shares George, Patrick 6 17/08/2015 10 5.15 92,728 1,500
Pacific North West Capital Corp.
Options Barr, Harry 4, 5 19/08/2015 52 196,667 -181,666
Pacific North West Capital Corp.
Options Barr, Harry 4, 5 19/08/2015 52 53,333 -30,000
Pacific North West Capital Corp.
Options Barr, Harry 4, 5 19/08/2015 52 0 -26,667
Painted Pony Petroleum Ltd. Common Shares Carley, Glenn Robert 4 18/08/2015 51 32,432 21,600
Painted Pony Petroleum Ltd. Common Shares Carley, Glenn Robert 4 18/08/2015 10 6.97 10,832 -21,600
Painted Pony Petroleum Ltd. Options Carley, Glenn Robert 4 18/08/2015 51 6.51 46,800 -21,600
Painted Pony Petroleum Ltd. Common Shares Hall, Bruce 5 17/08/2015 51 7 106,000
Painted Pony Petroleum Ltd. Common Shares Hall, Bruce 5 17/08/2015 51 6.1 106,000
Painted Pony Petroleum Ltd. Common Shares Hall, Bruce 5 17/08/2015 51 6.51 163,283 106,000
Painted Pony Petroleum Ltd. Common Shares Hall, Bruce 5 17/08/2015 10 7 57,283 -106,000
Painted Pony Petroleum Ltd. Options Hall, Bruce 5 17/08/2015 51 7 -106,000
Painted Pony Petroleum Ltd. Options Hall, Bruce 5 17/08/2015 51 6.1 -106,000
Painted Pony Petroleum Ltd. Options Hall, Bruce 5 17/08/2015 51 6.51 322,000 -106,000
Paramount Resources Ltd. Common Shares Class A Wittenberg, Joerg 5 19/08/2015 10 12.24 2,500 369
Parkit Enterprise Inc. Common Shares Baxter, Richard 4 11/08/2015 10 0.43 299,658 15,000
Parkland Fuel Corporation Common Shares Appelman, Melody Joy 5 19/05/2015 00
Parkland Fuel Corporation Common Shares Appelman, Melody Joy 5 30/06/2015 30 24.96 100 100
Parkland Fuel Corporation Common Shares Appelman, Melody Joy 5 31/07/2015 30 24.03 204 104
Parkland Fuel Corporation Restricted Common Shares
Appelman, Melody Joy 5 19/05/2015 00
Parkland Fuel Corporation Restricted Common Shares
Appelman, Melody Joy 5 19/05/2015 30 24.75 3,030 3,030
Parkland Fuel Corporation Restricted Common Shares
Appelman, Melody Joy 5 15/06/2015 30 23.82 3,041 11
Parkland Fuel Corporation Restricted Common Shares
Appelman, Melody Joy 5 15/07/2015 30 23.57 3,053 12
Parkland Fuel Corporation Restricted Common Shares
Appelman, Melody Joy 5 14/08/2015 30 22.03 3,065 12
Parkland Fuel Corporation Share Options Appelman, Melody Joy 5 19/05/2015 00
Parkland Fuel Corporation Share Options Appelman, Melody Joy 5 19/05/2015 50 24.75 30,300 30,300
Parkland Fuel Corporation Deferred Share Unit Plan Bechtold, John Frederick 4 14/08/2015 30 22.03 20,637 84
Insider Reporting
August 27, 2015
(2015), 38 OSCB 7454
Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Price
Date/Month End Holdings
Acquired/ Disposed
Parkland Fuel Corporation Deferred Share Unit Plan Colnett, Lisa 4 14/08/2015 30 22.03 6,426 26
Parkland Fuel Corporation Common Shares Cruickshank, Andrew Stuart 5 14/08/2015 30 22.03 312 1
Parkland Fuel Corporation Restricted Common Shares
Cruickshank, Andrew Stuart 5 14/08/2015 30 22.03 8,281 21
Parkland Fuel Corporation Common Shares Espey, Robert Berthold 5 14/08/2015 30 22.03 111,768 69
Parkland Fuel Corporation Restricted Common Shares
Espey, Robert Berthold 5 14/08/2015 30 22.03 59,215 132
Parkland Fuel Corporation Deferred Share Unit Plan Hogarth, Timothy 4 14/08/2015 30 22.03 2,624 11
Parkland Fuel Corporation Common Shares Kilty, Colin Peter 5 14/08/2015 30 22.03 15,877 64
Parkland Fuel Corporation Restricted Common Shares
Kilty, Colin Peter 5 14/08/2015 30 22.03 17,196 43
Parkland Fuel Corporation Common Shares Lapensee, Paul 4 14/08/2015 30 22.03 2,625 9
Parkland Fuel Corporation Restricted Common Shares
Lapensee, Paul 4 14/08/2015 30 22.03 6,419 26
Parkland Fuel Corporation Common Shares McMillan, Michael Stanley Howie
5 14/08/2015 30 22.03 3,508 3
Parkland Fuel Corporation Common Shares McMillan, Michael Stanley Howie
5 14/08/2015 30 22.03 10,603 45
Parkland Fuel Corporation Restricted Common Shares
McMillan, Michael Stanley Howie
5 14/08/2015 30 22.03 11,678 32
Parkland Fuel Corporation Common Shares Pantelidis, James 4 14/08/2015 30 22.03 201,666 283
Parkland Fuel Corporation Common Shares Pantelidis, James 4 17/08/2015 30 22.03 201,845 179
Parkland Fuel Corporation Deferred Share Unit Plan Pantelidis, James 4 14/08/2015 30 22.03 63,251 257
Parkland Fuel Corporation Deferred Share Unit Plan PILLA, DOMENICO 4 14/08/2015 30 22.89 4,192 31
Parkland Fuel Corporation Deferred Share Unit Plan PILLA, DOMENICO 4 14/08/2015 30 22.03 4,204 12
Parkland Fuel Corporation Common Shares Rawji, Irfhan Abdulaziz 5 14/08/2015 30 22.03 4,675 18
Parkland Fuel Corporation Common Shares Rawji, Irfhan Abdulaziz 5 19/08/2015 10 20.9 14,675 10,000
Parkland Fuel Corporation Restricted Common Shares
Rawji, Irfhan Abdulaziz 5 14/08/2015 30 22.03 30,071 87
Parkland Fuel Corporation Share Options Rawji, Irfhan Abdulaziz 5 19/08/2015 10 21 366,473 12,000
Parkland Fuel Corporation Common Shares ROGERS, Ronald D. 4 14/08/2015 30 22.03 43,589 177
Parkland Fuel Corporation Deferred Share Unit Plan ROGERS, Ronald D. 4 14/08/2015 30 22.03 35,431 144
Parkland Fuel Corporation Common Shares Savage, Jane Elizabeth 5 14/08/2015 30 22.03 4,559 18
Parkland Fuel Corporation Common Shares Savage, Jane Elizabeth 5 14/08/2015 30 22.03 5,528 22
Parkland Fuel Corporation Restricted Common Shares
Savage, Jane Elizabeth 5 14/08/2015 30 22.03 14,442 36
Parkland Fuel Corporation Common Shares Spencer, David 4 14/08/2015 30 22.03 13,479 20
Parkland Fuel Corporation Deferred Share Unit Plan Spencer, David 4 14/08/2015 30 22.03 20,637 84
Parkland Fuel Corporation Restricted Common Shares
Strating, Donna Jeanne 5 14/08/2015 30 22.03 14,182 33
Parkland Fuel Corporation Common Shares Waiting, Kendall 5 14/08/2015 30 22.03 3,600 14
Parkland Fuel Corporation Common Shares Waiting, Kendall 5 14/08/2015 30 22.03 4,592 19
Parkland Fuel Corporation Restricted Common Shares
Waiting, Kendall 5 14/08/2015 30 22.03 7,826 16
Parkland Fuel Corporation Restricted Common Shares
Waiting, Kendall 5 14/08/2015 30 23.11 7,835 9
Partner Jet Corp. Common Shares FSS Financial Services Inc. 3 01/06/2010 00 4,123,760
Partner Jet Corp. Common Shares McDougall, Ian Alexander 3, 4, 5 07/06/2010 90 0 -4,123,760
Partner Jet Corp. Common Shares McDougall, Ian Alexander 3, 4, 5 01/06/2010 00 4,123,760
Partners Real Estate Investment Trust
Units Domenico, Jane 5 15/02/2014 00
Partners Real Estate Investment Trust
Units Domenico, Jane 5 21/08/2015 10 3.2955 9,090 9,090
Partners Real Estate Investment Trust
Units McCowan, Ronald 3 21/03/2014 11 7 529,473
Partners Real Estate Investment Trust
Units McCowan, Ronald 3 21/03/2014 11 7 4,419,837 546,974
Partners Real Estate Investment Trust
Units McCowan, Ronald 3 14/08/2015 10 3.38 4,421,337 1,500
Partners Real Estate Investment Trust
Units McCowan, Ronald 3 14/08/2015 10 3.39 4,423,537 2,200
Partners Real Estate Investment Trust
Units McCowan, Ronald 3 14/08/2015 10 3.42 4,445,037 21,500
Insider Reporting
August 27, 2015
(2015), 38 OSCB 7455
Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Price
Date/Month End Holdings
Acquired/ Disposed
Partners Real Estate Investment Trust
Units McCowan, Ronald 3 14/08/2015 10 3.425 4,445,837 800
Partners Real Estate Investment Trust
Units McCowan, Ronald 3 14/08/2015 10 3.43 4,448,737 2,900
Partners Real Estate Investment Trust
Units McCowan, Ronald 3 14/08/2015 10 3.435 4,449,037 300
Partners Real Estate Investment Trust
Units McCowan, Ronald 3 14/08/2015 10 3.44 4,452,037 3,000
Partners Real Estate Investment Trust
Units McCowan, Ronald 3 14/08/2015 10 3.445 4,453,737 1,700
Partners Real Estate Investment Trust
Units McCowan, Ronald 3 14/08/2015 10 3.45 4,466,237 12,500
Partners Real Estate Investment Trust
Units McCowan, Ronald 3 14/08/2015 10 3.46 4,478,737 12,500
Partners Real Estate Investment Trust
Units McCowan, Ronald 3 14/08/2015 10 3.47 4,479,137 400
Partners Real Estate Investment Trust
Units McCowan, Ronald 3 14/08/2015 10 3.48 4,479,237 100
Partners Real Estate Investment Trust
Units McCowan, Ronald 3 14/08/2015 10 3.49 4,479,437 200
Partners Real Estate Investment Trust
Units McCowan, Ronald 3 14/08/2015 10 3.5 4,480,337 900
Partners Real Estate Investment Trust
Units McCowan, Ronald 3 17/08/2015 10 3.42 4,480,737 400
Partners Real Estate Investment Trust
Units McCowan, Ronald 3 17/08/2015 10 3.48 4,500,837 20,100
Partners Real Estate Investment Trust
Units McCowan, Ronald 3 17/08/2015 10 3.49 4,518,337 17,500
Partners Real Estate Investment Trust
Units McCowan, Ronald 3 18/08/2015 10 3.42 4,519,637 1,300
Partners Real Estate Investment Trust
Units McCowan, Ronald 3 18/08/2015 10 3.5 4,523,637 4,000
Pembina Pipeline Corporation
Common Shares Burrows, J. Scott 5 19/08/2015 10 36.4 3,050 500
PepCap Resources, Inc. Options Cooper, Gavin 5 19/05/2015 50 0.1 550,000
PepCap Resources, Inc. Options Cooper, Gavin 5 19/05/2015 50 0.11 550,000 550,000
Perk.com Inc. Options Collins, Jeffrey David 5 14/08/2015 50 150,000 30,000
Perk.com Inc. Options Niyogi, Surojit 4, 5 14/08/2015 38 410,000 -50,000
Perk.com Inc. Options Salamon, Adam Alexander 4, 5 14/08/2015 38 410,000 -50,000
Perpetual Energy Inc. Options Benoit, Vicki Lynn 5 19/08/2015 50 0.69 1,107,500 215,000
Perpetual Energy Inc. Deferred Shares Genoway, Karen A. 4 19/08/2015 56 0.01 59,300 21,300
Perpetual Energy Inc. Options Genoway, Karen A. 4 19/08/2015 50 0.69 155,625 30,000
Perpetual Energy Inc. Options Green, Jeff 5 19/08/2015 50 0.69 1,149,000 215,000
Perpetual Energy Inc. Options Jackson, Gary C. 5 19/08/2015 50 0.69 1,184,000 215,000
Perpetual Energy Inc. Deferred Shares Johnson, Randall 4 19/08/2015 56 0.01 59,300 21,300
Perpetual Energy Inc. Options Johnson, Randall 4 19/08/2015 50 0.69 155,625 30,000
Perpetual Energy Inc. Deferred Shares Maitland, Robert A. 4 19/08/2015 56 0.01 59,300 21,300
Perpetual Energy Inc. Options Maitland, Robert A. 4 19/08/2015 50 0.69 155,625 30,000
Perpetual Energy Inc. Options McKean, Linda Lee 5 19/08/2015 50 0.69 1,175,000 215,000
Perpetual Energy Inc. Deferred Shares Merritt, Geoffrey Craig 4 19/08/2015 56 0.01 59,300 21,300
Perpetual Energy Inc. Options Merritt, Geoffrey Craig 4 19/08/2015 50 0.69 155,625 30,000
Perpetual Energy Inc. Deferred Shares Nelson, Donald J. 4 19/08/2015 56 0.01 59,300 21,300
Perpetual Energy Inc. Options Nelson, Donald J. 4 19/08/2015 50 0.69 155,625 30,000
Perpetual Energy Inc. Options Rapini, Marcello 5 19/08/2015 50 0.69 1,346,000 250,000
Perpetual Energy Inc. Options Riddell Rose, Susan 4, 5 19/08/2015 50 0.69 2,956,000 550,000
Perpetual Energy Inc. Deferred Shares Riddell, Clayton H. 3, 4 19/08/2015 56 0.01 117,600 42,600
Perpetual Energy Inc. Options Riddell, Clayton H. 3, 4 19/08/2015 50 0.69 311,250 60,000
Perpetual Energy Inc. Options Sebastian, Cameron R. 5 19/08/2015 50 0.69 1,364,000 250,000
Perpetual Energy Inc. Deferred Shares Ward, Howard 4 19/08/2015 56 0.01 59,300 21,300
Perpetual Energy Inc. Options Ward, Howard 4 19/08/2015 50 0.69 155,625 30,000
Petrolympic Ltd. Options Marrelli, Carmelo 5 21/08/2015 50 0.1 210,000 100,000
Petrowest Corporation Common Shares COLEMAN, James Hayward
4 17/08/2015 10 0.235 500,000 200,000
Insider Reporting
August 27, 2015
(2015), 38 OSCB 7456
Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Price
Date/Month End Holdings
Acquired/ Disposed
Petrowest Corporation Common Shares Kiefer, Nikolaus Gerhard Peter
5 17/08/2015 10 0.235 130,150 104,450
Petrowest Corporation Common Shares Kiefer, Nikolaus Gerhard Peter
5 20/08/2015 10 0.22 150,550 20,400
Petrowest Corporation Common Shares Quigley, Rick 4 18/08/2015 10 0.235 825,000 425,000
PHX Energy Services Corp. Common Shares Blanchard, Daniel Asa 5 14/08/2015 10 3.91 10,000 -10,000
Pine Cliff Energy Ltd. Common Shares Disbrow, Robert 3 18/08/2015 10 0.9898 14,381,800 75,000
Pine Cliff Energy Ltd. Common Shares Disbrow, Robert 3 14/08/2015 10 1.05 11,750,000 15,000
Pine Cliff Energy Ltd. Common Shares Disbrow, Robert 3 18/08/2015 10 0.9898 11,805,000 55,000
Pizza Pizza Royalty Corp. Common Shares Methot, Paul David 6, 7 19/08/2015 10 13.65 22,000 1,800
Plaza Retail REIT RSUs Cipollone, Floriana 5 17/08/2015 30 4.25 3,350 16
Plaza Retail REIT RSUs Cipollone, Floriana 5 17/08/2015 59 4.25 3,334 -16
Plaza Retail REIT RSUs Penney, Stephen 5 17/08/2015 30 4.25 2,543 10
Plaza Retail REIT RSUs Penney, Stephen 5 17/08/2015 57 4.25 2,533 -10
Plaza Retail REIT Trust Units Penney, Stephen 5 17/08/2015 57 4.25 5,712 10
Plaza Retail REIT RSUs Petrie, James M. 5 17/08/2015 30 4.25 3,350 16
Plaza Retail REIT RSUs Petrie, James M. 5 17/08/2015 59 4.25 3,334 -16
Plaza Retail REIT RSUs Salsberg, Kevin 5 17/08/2015 30 4.25 6,699 32
Plaza Retail REIT RSUs Salsberg, Kevin 5 17/08/2015 59 4.25 6,667 -32
Plaza Retail REIT RSUs Strange, Kimberly A. 5 17/08/2015 30 4.25 803 3
Plaza Retail REIT RSUs Strange, Kimberly A. 5 17/08/2015 57 4.25 800 -3
Plaza Retail REIT Trust Units Strange, Kimberly A. 5 17/08/2015 57 4.25 1,237 3
Pollard Banknote Limited Common Shares Leach, Garry Arthur 4 20/08/2015 10 7.185 66,400 600
Pollard Banknote Limited Common Shares Leach, Garry Arthur 4 20/08/2015 10 7.2 66,800 400
Polymet Mining Corp. Common Shares Dreisinger, David Bruce 4 14/08/2015 10 781,276 -34,331
Polymet Mining Corp. Common Shares Dreisinger, David Bruce 4 17/08/2015 10 719,259 -62,017
Precision Drilling Corporation Common Shares Espeland, Niels 5 17/08/2015 10 6.01 2,000 2,000
Precision Drilling Corporation Common Shares Foley, Veronica H. 5 20/08/2015 10 4.25 16,858 5,000
Precision Drilling Corporation Common Shares Meyers, Kevin Omar 4 18/08/2015 10 4.5799 23,500 3,000
Precision Drilling Corporation Common Shares Neveu, Kevin A. 4, 5 21/08/2015 10 5.435 498,342 2,900
Precision Drilling Corporation Common Shares Neveu, Kevin A. 4, 5 21/08/2015 10 5.43 498,842 500
Precision Drilling Corporation Common Shares Neveu, Kevin A. 4, 5 21/08/2015 10 5.4237 500,442 1,600
Primeline Energy Holdings Inc.
Common Shares Hwang, Victor Yiou Hwa 3, 4, 5 13/08/2015 11 0.42 91,143,463 44,669,851
Prism Medical Ltd. Common Shares Clark, Steven Craig 7 17/08/2015 10 11.5 14,500 900
Prism Medical Ltd. Common Shares Clark, Steven Craig 7 19/08/2015 10 11.495 20,200 5,700
ProMetic Life Sciences Inc. Common Shares CLULOW, KURT STEFAN VICTOR
4 18/08/2015 10 2.123 4,924,698 1,262,172
ProMetic Life Sciences Inc. Common Shares CLULOW, KURT STEFAN VICTOR
4 19/08/2015 10 2.14 4,999,598 74,900
PUDO Inc. Options Bijou, Thomas Frank 4 14/07/2015 00 200,000
PUDO Inc. Options Coccia, Francesco 5 14/07/2015 00 1,200,000
PUDO Inc. Common Shares Cooper, Gordon Charles 3 13/07/2015 37 4,330 -82,270
PUDO Inc. Common Shares Cooper, Gordon Charles 3 13/07/2015 37 77,717 -1,476,627
PUDO Inc. Common Shares Cooper, Gordon Charles 3 13/07/2015 37 332,485 -6,317,215
PUDO Inc. Common Shares Cooper, Gordon Charles 3 13/07/2015 37 15,250 -289,750
PUDO Inc. Common Shares Cooper, Gordon Charles 3 13/07/2015 37 8,850 -168,150
Pulse Seismic Inc. Common Shares Pulse Seismic Inc. 1 13/08/2015 38 2.5569 19,700 1,300
Pulse Seismic Inc. Common Shares Pulse Seismic Inc. 1 17/08/2015 38 2.5867 30,200 10,500
Pulse Seismic Inc. Common Shares Pulse Seismic Inc. 1 18/08/2015 38 2.5523 48,300 18,100
Pulse Seismic Inc. Common Shares Pulse Seismic Inc. 1 19/08/2015 38 2.5223 62,500 14,200
Pulse Seismic Inc. Common Shares Pulse Seismic Inc. 1 20/08/2015 38 2.5195 77,100 14,600
Puma Exploration Inc. Common Shares Robillard, Marcel 4, 5 17/08/2015 10 0.17 2,500
Puma Exploration Inc. Common Shares Robillard, Marcel 4, 5 17/08/2015 10 0.11 1,146,500 2,500
Puma Exploration Inc. Common Shares Robillard, Marcel 4, 5 18/08/2015 10 0.105 1,148,000 1,500
Puma Exploration Inc. Common Shares Robillard, Marcel 4, 5 19/08/2015 10 0.105 1,150,000 2,000
Pure Industrial Real Estate Trust
Trust Units Turner, Thomas Richard 4 24/06/2007 00
Pure Industrial Real Estate Trust
Trust Units Turner, Thomas Richard 4 14/08/2015 10 4.6 1,500 1,500
Insider Reporting
August 27, 2015
(2015), 38 OSCB 7457
Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Price
Date/Month End Holdings
Acquired/ Disposed
Pure Multi-Family REIT LP Trust Units Scott, Douglas R. 4 19/08/2015 10 6.8 8,600 1,000
Pure Technologies Ltd. Common Shares Budianto, Robert 5 14/08/2015 30 6 17,260 572
Pure Technologies Ltd. Common Shares Elliott, John Francis 5 14/08/2015 30 6 103,642 953
Pure Technologies Ltd. Common Shares Elliott, John Francis 5 18/08/2015 10 5.87 107,042 3,400
Pure Technologies Ltd. Common Shares Higgins, Michael 5 19/08/2015 30 6.22 30,146 776
Pure Technologies Ltd. Common Shares Holley, Mark William 5 14/08/2015 30 6 213,562 787
Pure Technologies Ltd. Common Shares Krause, Geoffrey Dean 5 14/08/2015 30 6 7,495 716
Pure Technologies Ltd. Common Shares Paulson, James Edward 4, 6, 5 14/08/2015 30 6 66,199 838
Pure Technologies Ltd. Common Shares Paulson, Peter Osborne 4, 6, 5 14/08/2015 30 6 218,170 838
Pure Technologies Ltd. Common Shares Springer, Nicole 5 14/08/2015 30 6 8,440 372
Pure Technologies Ltd. Common Shares Springer, Nicole 5 14/08/2015 30 6 1,289 183
PWC Capital Inc. (formerly Pacific & Western Credit Corp.)
Common Shares George, Patrick 4, 6 14/08/2015 10 0.21 120,800 4,000
PWC Capital Inc. (formerly Pacific & Western Credit Corp.)
Common Shares George, Patrick 4, 6 17/08/2015 10 0.21 148,300 27,500
PWC Capital Inc. (formerly Pacific & Western Credit Corp.)
Common Shares George, Patrick 4, 6 18/08/2015 10 0.21 165,300 17,000
PWC Capital Inc. (formerly Pacific & Western Credit Corp.)
Common Shares George, Patrick 4, 6 20/08/2015 10 0.21 165,800 500
Questerre Energy Corporation
Common Shares Binnion, Michael Rupert 4, 6, 5 17/08/2015 10 0.215 7,376,182 68,500
Quia Resources Inc. Common Shares Yamana Gold Inc. 3 09/06/2014 37 1,400,000 -12,600,000
Quia Resources Inc. Common Shares Yamana Gold Inc. 3 14/08/2015 16 0.005 0 -1,400,000
Raging River Exploration Inc. Common Shares Olson, Kevin 4 14/08/2015 51 1,293,497 56,870
Raging River Exploration Inc. Common Shares Olson, Kevin 4 14/08/2015 51 1,325,632 32,135
Raging River Exploration Inc. Options Olson, Kevin 4 14/08/2015 51 1.9 203,500 -75,000
Raging River Exploration Inc. Options Olson, Kevin 4 14/08/2015 51 3.53 145,167 -58,333
Range Energy Resources Inc.
Common Shares Gulf LNG America, LLC 3 20/08/2015 16 0.05 394,472,772 6,545,500
Range Energy Resources Inc.
Warrants Gulf LNG America, LLC 3 20/08/2015 16 0.05 264,072,772 6,545,500
Raven Rock Strategic Income Fund
Units Arrow Capital Management Inc.
7 17/08/2015 10 7.0023 2,000
Raven Rock Strategic Income Fund
Units Arrow Capital Management Inc.
7 17/08/2015 10 7.0023 2,200
Raven Rock Strategic Income Fund
Units Arrow Capital Management Inc.
7 17/08/2015 10 7.0023 7,100 2,200
Raven Rock Strategic Income Fund
Units Arrow Capital Management Inc.
7 18/08/2015 10 7 10,000 2,900
Raven Rock Strategic Income Fund
Units Arrow Capital Management Inc.
7 19/08/2015 10 6.95 11,000 1,000
Red Eagle Mining Corporation
Common Shares STRACON GyM S.A. 3 20/08/2015 16 0.27 33,539,360 16,769,680
Red Pine Exploration Inc. Common Shares Wolfe, Elgin M 4 14/08/2015 11 0.05 1,968,029 316,372
Red Pine Exploration Inc. Warrants Wolfe, Elgin M 4 14/08/2015 11 0.1 857,895 158,186
Redzone Resources Ltd. Options Brown, Gary Duncan 4 12/07/2012 50 0.18 250,000
Redzone Resources Ltd. Options Brown, Gary Duncan 4 12/07/2012 50 0.18 400,000 200,000
Redzone Resources Ltd. Options Brown, Gary Duncan 4 13/11/2013 50 600,000 200,000
Redzone Resources Ltd. Options Brown, Gary Duncan 4 17/08/2015 38 400,000 -200,000
Redzone Resources Ltd. Options Moriarty, Rebecca 5 09/07/2014 38 0.27 70,000 15,000
Renaissance Gold Inc. Common Shares Bedell, Jr., Richard L. 4, 5 19/08/2015 57 2,425,931 37,500
Renaissance Gold Inc. Rights Restricted Share Rights
Bedell, Jr., Richard L. 4, 5 19/08/2015 57 0 -37,500
Renaissance Gold Inc. Common Shares Boaz, Robert 4 19/08/2015 57 127,729 22,500
Renaissance Gold Inc. Rights Restricted Share Rights
Boaz, Robert 4 19/08/2015 57 0 -22,500
Renaissance Gold Inc. Common Shares Graber, Lee 4 19/08/2015 57 276,573 22,500
Renaissance Gold Inc. Rights Restricted Share Rights
Graber, Lee 4 19/08/2015 57 0 -22,500
Insider Reporting
August 27, 2015
(2015), 38 OSCB 7458
Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Price
Date/Month End Holdings
Acquired/ Disposed
Renaissance Gold Inc. Common Shares Janke, Timothy Mark 5 19/08/2015 57 75,677 22,500
Renaissance Gold Inc. Rights Restricted Share Rights
Janke, Timothy Mark 5 19/08/2015 57 0 -22,500
Renaissance Gold Inc. Common Shares Krewedl, Dieter 4 19/08/2015 57 169,798 22,500
Renaissance Gold Inc. Rights Restricted Share Rights
Krewedl, Dieter 4 19/08/2015 57 0 -22,500
Renaissance Gold Inc. Common Shares Meyer, Doris 5 19/08/2015 57 83,422 5,000
Renaissance Gold Inc. Rights Restricted Share Rights
Meyer, Doris 5 19/08/2015 57 0 -5,000
Renaissance Gold Inc. Common Shares O'Brien, Daniel 5 19/08/2015 57 30,000 15,000
Renaissance Gold Inc. Rights Restricted Share Rights
O'Brien, Daniel 5 19/08/2015 57 0 -15,000
Renaissance Gold Inc. Common Shares Parratt, Ronald L. 4, 5 19/08/2015 57 1,391,571 25,000
Renaissance Gold Inc. Rights Restricted Share Rights
Parratt, Ronald L. 4, 5 19/08/2015 57 0 -25,000
Renaissance Gold Inc. Common Shares STRUHSACKER, ERIC 5 19/08/2015 57 261,152 30,000
Renaissance Gold Inc. Rights Restricted Share Rights
STRUHSACKER, ERIC 5 19/08/2015 57 0 -30,000
Resinco Capital Partners Inc. Common Shares Poulus, Hein 4 14/08/2015 10 0.005 21,238,518 185,000
Resinco Capital Partners Inc. Common Shares Poulus, Hein 4 17/08/2015 10 0.005 21,301,518 63,000
Resinco Capital Partners Inc. Common Shares Poulus, Hein 4 18/08/2015 10 0.005 21,497,518 196,000
Revelo Resources Corp. (formerly Iron Creek Capital Corp.)
Common Shares Stephens, Paul H. 3 07/07/2015 00
Revelo Resources Corp. (formerly Iron Creek Capital Corp.)
Common Shares Stephens, Paul H. 3 07/07/2015 00
Revelo Resources Corp. (formerly Iron Creek Capital Corp.)
Common Shares Stephens, Paul H. 3 07/07/2015 00 785,714
Revelo Resources Corp. (formerly Iron Creek Capital Corp.)
Common Shares Stephens, Paul H. 3 10/07/2015 10 785,714
Revelo Resources Corp. (formerly Iron Creek Capital Corp.)
Common Shares Stephens, Paul H. 3 10/07/2015 10 785,714
Revelo Resources Corp. (formerly Iron Creek Capital Corp.)
Common Shares Stephens, Paul H. 3 07/07/2015 00 97,500
Revelo Resources Corp. (formerly Iron Creek Capital Corp.)
Common Shares Stephens, Paul H. 3 08/07/2015 10 0.0942 107,500 10,000
Revelo Resources Corp. (formerly Iron Creek Capital Corp.)
Common Shares Stephens, Paul H. 3 21/07/2015 10 0.0882 110,500 3,000
Revelo Resources Corp. (formerly Iron Creek Capital Corp.)
Common Shares Stephens, Paul H. 3 07/07/2015 00 5,937,929
Revelo Resources Corp. (formerly Iron Creek Capital Corp.)
Common Shares Stephens, Paul H. 3 13/07/2015 10 0.0942 5,939,929 2,000
Revelo Resources Corp. (formerly Iron Creek Capital Corp.)
Common Shares Stephens, Paul H. 3 14/07/2015 10 0.0942 5,955,429 15,500
Revelo Resources Corp. (formerly Iron Creek Capital Corp.)
Common Shares Stephens, Paul H. 3 15/07/2015 10 0.0929 6,045,429 90,000
Revelo Resources Corp. (formerly Iron Creek Capital Corp.)
Common Shares Stephens, Paul H. 3 20/07/2015 10 0.0884 6,358,929 313,500
Revelo Resources Corp. (formerly Iron Creek Capital Corp.)
Common Shares Stephens, Paul H. 3 27/07/2015 10 0.0959 6,371,929 13,000
Revelo Resources Corp. (formerly Iron Creek Capital Corp.)
Common Shares Stephens, Paul H. 3 28/07/2015 10 0.0967 6,386,929 15,000
Insider Reporting
August 27, 2015
(2015), 38 OSCB 7459
Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Price
Date/Month End Holdings
Acquired/ Disposed
Revelo Resources Corp. (formerly Iron Creek Capital Corp.)
Common Shares Stephens, Paul H. 3 10/08/2015 10 0.0846 6,586,929 200,000
Revelo Resources Corp. (formerly Iron Creek Capital Corp.)
Common Shares Stephens, Paul H. 3 14/08/2015 10 0.0841 6,602,429 15,500
Revelo Resources Corp. (formerly Iron Creek Capital Corp.)
Warrants Stephens, Paul H. 3 07/07/2015 00 785,714
Revelo Resources Corp. (formerly Iron Creek Capital Corp.)
Warrants Stephens, Paul H. 3 07/07/2015 00 2,666,429
Revelstoke Equity Inc. Common Shares Konovalov, Anton 4 18/08/2015 10 0.22 167,500 120,000
Revelstoke Equity Inc. Common Shares Konovalov, Anton 4 19/08/2015 10 0.22 201,500 34,000
Revelstoke Equity Inc. Options Konovalov, Anton 4 10/06/2015 00
Revelstoke Equity Inc. Options Konovalov, Anton 4 12/08/2015 50 0.2 85,786 85,786
Revelstoke Equity Inc. Options Leon, Craig 4, 5 10/06/2015 00
Revelstoke Equity Inc. Options Leon, Craig 4, 5 12/08/2015 50 0.2 214,465 214,465
Revelstoke Equity Inc. Options Leon, Timothy 4 10/06/2015 00
Revelstoke Equity Inc. Options Leon, Timothy 4 12/08/2015 50 0.2 128,679 128,679
Richelieu Hardware Ltd. Common Shares Auclair, Antoine 5 12/08/2015 30 69.733 2,004 34
Richelieu Hardware Ltd. Common Shares Dion, Christian 5 12/08/2015 30 69.733 1,551 7
Richelieu Hardware Ltd. Common Shares Grenier, Guy 5 12/08/2015 30 69.733 13,007 17
Richelieu Hardware Ltd. Common Shares Grenier, Guy 5 12/08/2015 30 69.733 24,363 26
Richelieu Hardware Ltd. Common Shares Lord, Richard 4, 5 12/08/2015 30 69.733 1,400,034 34
Richelieu Hardware Ltd. Common Shares Quevillon, Geneviève 5 12/08/2015 30 69.733 1,648 13
RIOCAN REAL ESTATE INVESTMENT TRUST
Trust Units Kissoon, Daneshwar 5 08/07/2015 30 25.969 45,869 143
RIOCAN REAL ESTATE INVESTMENT TRUST
Trust Units Kissoon, Daneshwar 5 10/08/2015 30 25.275 46,017 148
RIOCAN REAL ESTATE INVESTMENT TRUST
Trust Units Kissoon, Daneshwar 5 08/07/2015 30 25.969 6,054 27
RIOCAN REAL ESTATE INVESTMENT TRUST
Trust Units Kissoon, Daneshwar 5 10/08/2015 30 25.275 6,082 28
RIOCAN REAL ESTATE INVESTMENT TRUST
Trust Units Robins, Jordan 5 10/08/2015 30 25.274 37,950 175
RIOCAN REAL ESTATE INVESTMENT TRUST
Trust Units Sallows, Sharon 4 10/08/2015 30 25.274 2,663 12
RIOCAN REAL ESTATE INVESTMENT TRUST
Trust Units Sallows, Sharon 4 10/08/2015 30 25.274 50,420 233
RIOCAN REAL ESTATE INVESTMENT TRUST
Trust Units Sallows, Sharon 4 10/08/2015 30 25.274 25,126 116
RIOCAN REAL ESTATE INVESTMENT TRUST
Trust Units Sallows, Sharon 4 10/08/2015 30 25.274 26,662 113
RIWI Corp. Common Shares BP Capital Ltd. 3 13/08/2015 00 2,787,000
RIWI Corp. Common Shares Cusworth, Annette 4 13/08/2015 00 100
RIWI Corp. Options Cusworth, Annette 4 13/08/2015 00 70,000
RIWI Corp. Options Kriznic, Daniel Stanislav 5 13/08/2015 00 196,000
RIWI Corp. Common Shares Pirooz, Robert Pirooz 4 13/08/2015 00 2,787,000
RIWI Corp. Promissory Notes Convertible Promissory Note
Pirooz, Robert Pirooz 4 13/08/2015 00 $280,000
RIWI Corp. Common Shares Schaefer, Amber Lynn 5 13/08/2015 00 100
RIWI Corp. Options Schaefer, Amber Lynn 5 13/08/2015 00 35,000
RIWI Corp. Options Shumka, Donald 4 13/08/2015 00 70,000
RMP Energy Inc. Options Bernhard, Dean 5 18/08/2015 50 1.62 775,000 130,000
RMP Energy Inc. Options DesBrisay, Brent William 5 18/08/2015 50 1.62 745,000 100,000
RMP Energy Inc. Options Ferguson, John Wayne 4 18/08/2015 50 1.62 1,225,000 130,000
RMP Energy Inc. Options Grimwood, Jonathan L. 5 18/08/2015 50 1.62 750,000 130,000
RMP Energy Inc. Options Kubat, Gregory Thomas 5 18/08/2015 50 1.62 730,000 130,000
RMP Energy Inc. Options McFarlane, Robert Bruce 5 18/08/2015 50 1.62 550,000 70,000
RMP Energy Inc. Options Riddell, Derek 5 18/08/2015 50 1.62 875,000 130,000
Rock Energy Inc. Common Shares Campbell, Jeffrey G. 5 21/08/2015 51 1.1 358,782 58,333
Insider Reporting
August 27, 2015
(2015), 38 OSCB 7460
Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Price
Date/Month End Holdings
Acquired/ Disposed
Rock Energy Inc. Options Campbell, Jeffrey G. 5 21/08/2015 51 1.1 483,333 -58,333
Rock Energy Inc. Common Shares Maitland, Robert A. 4 19/08/2015 51 1.36 106,666 6,666
Rock Energy Inc. Options Maitland, Robert A. 4 19/08/2015 51 1.36 70,334 -6,666
Rogers Communications Inc. Stock Appreciation Rights (Performance)
Rogers, Edward 4, 6, 7, 5 18/08/2015 59 45.368 155,520 -66,000
Romarco Minerals Inc. Options Marsden, John Overton 4 10/08/2015 50 0.495 752,667 127,300
Rosita Mining Corporation Common Shares Dudek, Don 4 13/08/2015 10 0.035 895,102 2,000
Rosita Mining Corporation Common Shares Dudek, Don 4 13/08/2015 10 0.04 914,102 19,000
Roxgold Inc. Common Shares Colterjohn, Richard Mark 4 19/08/2015 10 0.71 3,557,143 -500,000
Roxgold Inc. Deferred Share Units Colterjohn, Richard Mark 4 13/08/2015 56 0.72 596,021 166,666
Roxgold Inc. Deferred Share Units Knowles, John Lewis 4 19/08/2015 56 596,022 166,666
Roxgold Inc. Common Shares Lennox-King, Oliver 5 19/08/2015 10 0.71 9,141,208 501,500
Roxgold Inc. Deferred Share Units Lennox-King, Oliver 5 19/08/2015 56 651,603 208,333
Roxgold Inc. Deferred Share Units Mills, Robin George 4 11/06/2015 00
Roxgold Inc. Deferred Share Units Mills, Robin George 4 19/08/2015 56 250,000 250,000
Roxgold Inc. Deferred Share Units Rubenstein, Jonathan A. 4 19/08/2015 56 596,022 166,666
Roxgold Inc. Deferred Share Units Segsworth, Walter Thomas 4 19/08/2015 56 0.72 596,023 166,667
Roxgold Inc. Deferred Share Units Spiteri, Joseph George 4 19/08/2015 56 596,022 166,666
Russel Metals Inc. Common Shares Laberge, Alice D. 4 18/08/2015 10 21.4 5,500 500
Russel Metals Inc. Common Shares Laberge, Alice D. 4 19/08/2015 10 20.05 6,000 500
Russell Breweries Inc. Common Shares Durand, Donald John 8, 6 24/06/2015 11 0.084 14,506,000
Russell Breweries Inc. Common Shares Durand, Donald John 8, 6 24/06/2015 11 0.084 14,506,000
Russell Breweries Inc. Common Shares Durand, Donald John 8, 6 02/07/2015 10 0.07 750,000
Russell Breweries Inc. Common Shares Durand, Donald John 8, 6 02/07/2015 10 0.07 750,000
Russell Breweries Inc. Common Shares Mohan, Alnesh 8, 4, 6, 7 24/06/2015 11 0.084 14,506,000
Russell Breweries Inc. Common Shares Mohan, Alnesh 8, 4, 6, 7 24/06/2015 11 0.084 14,506,000
Russell Breweries Inc. Common Shares Mohan, Alnesh 8, 4, 6, 7 02/07/2015 10 0.07 750,000
Russell Breweries Inc. Common Shares Mohan, Alnesh 8, 4, 6, 7 02/07/2015 10 0.07 750,000
Russell Breweries Inc. Common Shares ROBERTSON, IAN D. 8, 6 24/06/2015 11 0.084 14,506,000
Russell Breweries Inc. Common Shares ROBERTSON, IAN D. 8, 6 24/06/2015 11 0.084 14,506,000
Russell Breweries Inc. Common Shares ROBERTSON, IAN D. 8, 6 02/07/2015 10 0.07 750,000
Russell Breweries Inc. Common Shares ROBERTSON, IAN D. 8, 6 02/07/2015 10 0.07 750,000
Russell Breweries Inc. Common Shares Sutcliffe, Simon Bruce 8, 6 24/06/2015 11 0.084 14,506,000
Russell Breweries Inc. Common Shares Sutcliffe, Simon Bruce 8, 6 24/06/2015 11 0.084 14,506,000
Russell Breweries Inc. Common Shares Sutcliffe, Simon Bruce 8, 6 02/07/2015 10 0.07 750,000
Russell Breweries Inc. Common Shares Sutcliffe, Simon Bruce 8, 6 02/07/2015 10 0.07 750,000
Russell Breweries Inc. Common Shares Xian, Xiang Rong (Grace) 8, 6 24/06/2015 11 0.084 14,506,000
Russell Breweries Inc. Common Shares Xian, Xiang Rong (Grace) 8, 6 24/06/2015 11 0.084 14,506,000
Russell Breweries Inc. Common Shares Xian, Xiang Rong (Grace) 8, 6 02/07/2015 10 0.07 750,000
Russell Breweries Inc. Common Shares Xian, Xiang Rong (Grace) 8, 6 02/07/2015 10 0.07 750,000
Russell Breweries Inc. Common Shares Yang, Gang 8, 6 24/06/2015 11 0.084 14,506,000
Russell Breweries Inc. Common Shares Yang, Gang 8, 6 24/06/2015 11 0.084 14,506,000
Russell Breweries Inc. Common Shares Yang, Gang 8, 6 02/07/2015 10 0.07 750,000
Russell Breweries Inc. Common Shares Yang, Gang 8, 6 02/07/2015 10 0.07 750,000
Ryan Gold Corp. Warrants Schmidt, David 4, 5 19/07/2015 55 0 -3,000,000
Rye Patch Gold Corp. Common Shares Rye Patch Gold Corp. 1 14/08/2015 38 0.15 123,500 20,000
Rye Patch Gold Corp. Common Shares Rye Patch Gold Corp. 1 17/08/2015 38 0.15 130,000 6,500
Rye Patch Gold Corp. Common Shares Rye Patch Gold Corp. 1 18/08/2015 38 0.145 150,000 20,000
Rye Patch Gold Corp. Common Shares Rye Patch Gold Corp. 1 19/08/2015 38 0.1377 186,500 36,500
Rye Patch Gold Corp. Common Shares Rye Patch Gold Corp. 1 20/08/2015 38 0.145 196,500 10,000
Sandvine Corporation Common Shares Caputo, David 4 20/08/2015 30 3.15 105,035 571
Sandvine Corporation Common Shares Donnelly, Tom 5 20/08/2015 30 3.15 19,084 125
Sandvine Corporation Common Shares Hamilton, Scott 4 20/08/2015 30 3.15 5,228 54
Sandvine Corporation Common Shares Siim, Brad 5 20/08/2015 30 3.15 29,012 258
Savanna Energy Services Corp.
Deferred Share Units (Directors) (cash based only)
Brooks, Gilbert Allen 4 13/08/2015 56 1.45 143,653 51,724
Savanna Energy Services Corp.
Deferred Share Units (Directors) (cash based only)
Cosby, Stella 4 13/08/2015 56 1.45 87,886 51,724
Insider Reporting
August 27, 2015
(2015), 38 OSCB 7461
Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Price
Date/Month End Holdings
Acquired/ Disposed
Savanna Energy Services Corp.
Deferred Share Units (Directors) (cash based only)
Hooks, John Michael 4 13/08/2015 56 1.45 257,206 51,724
Savanna Energy Services Corp.
Performance Share Units LaMontagne, Dwayne Kevin 5 13/08/2015 56 1.45 214,730 145,862
Savanna Energy Services Corp.
Performance Share Units LaMontagne, Dwayne Kevin 5 17/08/2015 59 196,080 -18,650
Savanna Energy Services Corp.
Performance Share Units LaMontagne, Dwayne Kevin 5 17/08/2015 38 186,380 -9,700
Savanna Energy Services Corp.
Deferred Share Units (Directors) (cash based only)
NUGENT, Kevin 4 13/08/2015 56 1.45 181,797 51,724
Savanna Energy Services Corp.
Deferred Share Units (Directors) (cash based only)
SAUNDERS, JAMES MACLEO
4 13/08/2015 56 1.45 288,225 62,069
Savanna Energy Services Corp.
Deferred Share Units (Officers) (cash based only)
Strong, Christopher Davis 4, 5 07/10/2013 00
Savanna Energy Services Corp.
Deferred Share Units (Officers) (cash based only)
Strong, Christopher Davis 4, 5 13/08/2015 56 1.45 82,759 82,759
Savanna Energy Services Corp.
Performance Share Units Strong, Christopher Davis 4, 5 13/08/2015 56 1.45 377,586 227,586
Savanna Energy Services Corp.
Deferred Share Units (Directors) (cash based only)
Wilson, Tor David 4 13/08/2015 56 1.45 181,167 51,724
Search Minerals Inc. Common Shares Andrews, Gregory Paul 5 18/08/2015 16 0.06 510,000 350,000
Search Minerals Inc. Warrants Andrews, Gregory Paul 5 18/08/2015 16 0.1 510,000 350,000
Search Minerals Inc. Common Shares Clucas, James David 4 17/08/2015 16 0.06 3,218,914 270,000
Search Minerals Inc. Options Clucas, James David 4 30/06/2015 50 0.1 725,000
Search Minerals Inc. Options Clucas, James David 4 03/07/2015 50 0.1 1,435,000 725,000
Search Minerals Inc. Warrants Clucas, James David 4 17/08/2015 16 0.1 1,555,000 270,000
Search Minerals Inc. Warrants Clucas, James David 4 19/08/2015 55 1,470,000 -85,000
Search Minerals Inc. Common Shares Dreisinger, David Bruce 4 18/08/2015 11 0.06 1,660,000 350,000
Search Minerals Inc. Warrants Dreisinger, David Bruce 4 18/08/2015 11 0.1 1,650,000 350,000
Search Minerals Inc. Common Shares Patterson, James Matthew 4 19/08/2015 16 0.06 910,000 200,000
Search Minerals Inc. Options Patterson, James Matthew 4 30/06/2015 50 0.1 775,000
Search Minerals Inc. Options Patterson, James Matthew 4 03/07/2015 50 0.1 1,272,500 775,000
Search Minerals Inc. Warrants Patterson, James Matthew 4 19/08/2015 55 400,000 -60,000
Search Minerals Inc. Options Saunders, Raymond James 4 30/06/2015 50 0.1 1,000,000
Search Minerals Inc. Options Saunders, Raymond James 4 03/07/2015 50 0.1 1,460,000 1,000,000
Secure Energy Services Inc. Common Shares Gransch, Allen Peter 5 19/08/2015 51 9.63 164,373 40,000
Secure Energy Services Inc. Common Shares Gransch, Allen Peter 5 19/08/2015 10 9.63 143,614 -20,759
Secure Energy Services Inc. Options Gransch, Allen Peter 5 19/08/2015 51 9.63 254,625 -40,000
Secure Energy Services Inc. Common Shares McGurk, Brian Kenneth Stanley
5 06/12/2012 00
Secure Energy Services Inc. Common Shares McGurk, Brian Kenneth Stanley
5 14/08/2015 10 9.9 2,500 2,500
Secure Energy Services Inc. Common Shares McGurk, Brian Kenneth Stanley
5 17/08/2015 10 9.9 5,200 2,700
SEMAFO INC. Common Shares Vinet, Éric 5 20/08/2015 51 2.03 20,000 20,000
SEMAFO INC. Common Shares Vinet, Éric 5 20/08/2015 10 3.58 0 -20,000
SEMAFO INC. Options Vinet, Éric 5 20/08/2015 51 0 -20,000
Seven Generations Energy Ltd.
Rights Deferred Share Units
Brown, Kevin Jack 4 30/10/2014 00
Seven Generations Energy Ltd.
Rights Deferred Share Units
Brown, Kevin Jack 4 13/08/2015 56 3,497 3,497
Seven Generations Energy Ltd.
Rights Deferred Share Units
Canada Pension Plan Investment Board
3 29/10/2014 00
Seven Generations Energy Ltd.
Rights Deferred Share Units
Canada Pension Plan Investment Board
3 13/08/2015 56 3,497 3,497
Seven Generations Energy Ltd.
Rights Deferred Share Units
Hohm, Dale Jonathan 4 29/10/2014 00
Seven Generations Energy Ltd.
Rights Deferred Share Units
Hohm, Dale Jonathan 4 13/08/2015 56 3,497
Insider Reporting
August 27, 2015
(2015), 38 OSCB 7462
Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Price
Date/Month End Holdings
Acquired/ Disposed
Seven Generations Energy Ltd.
Rights Deferred Share Units
Hohm, Dale Jonathan 4 13/08/2015 56 3,497 3,497
Seven Generations Energy Ltd.
Rights Deferred Share Units
Jespersen, Kent 4 29/10/2014 00
Seven Generations Energy Ltd.
Rights Deferred Share Units
Jespersen, Kent 4 13/08/2015 56 1,748
Seven Generations Energy Ltd.
Rights Deferred Share Units
Jespersen, Kent 4 13/08/2015 56 1,748 1,748
Seven Generations Energy Ltd.
Rights Deferred Share Units
Kanovsky, Michael Manuel 4 29/10/2014 00
Seven Generations Energy Ltd.
Rights Deferred Share Units
Kanovsky, Michael Manuel 4 13/08/2015 56 3,497 3,497
Seven Generations Energy Ltd.
Rights Deferred Share Units
McAdam, William 4 29/10/2014 00
Seven Generations Energy Ltd.
Rights Deferred Share Units
McAdam, William 4 14/08/2015 46 3,497 3,497
Seven Generations Energy Ltd.
Common Shares Class A Proctor, Marty Leigh 5 21/08/2015 10 12.5 81,074 10,000
Seven Generations Energy Ltd.
Rights Deferred Share Units
Rakhit, Kaushik 4 29/10/2014 00
Seven Generations Energy Ltd.
Rights Deferred Share Units
Rakhit, Kaushik 4 13/08/2015 56 3,497
Seven Generations Energy Ltd.
Rights Deferred Share Units
Rakhit, Kaushik 4 13/08/2015 56 3,497 3,497
Seven Generations Energy Ltd.
Rights Deferred Share Units
van Steenbergen, Jeff 4 29/10/2014 00
Seven Generations Energy Ltd.
Rights Deferred Share Units
van Steenbergen, Jeff 4 13/08/2015 56 3,497
Seven Generations Energy Ltd.
Rights Deferred Share Units
van Steenbergen, Jeff 4 13/08/2015 56 3,497 3,497
ShawCor Ltd. Common Shares ewert, darrell 5 19/08/2015 10 26.45 3,076 500
Sherritt International Corporation
Common Shares Vydra, Martin 5 14/08/2015 10 1.07 28,280 5,000
Shopify Inc. Multiple Voting Shares Class B Multiple Voting Shares
Weinand, Peter Daniel 5 20/05/2015 00 690,227
Silk Road Energy Inc. Common Shares Rashid, Zulfikar 3 21/07/2015 00 1,695,000
Silver Standard Resources Inc.
Common Shares Park, Beverlee Faye 4 20/05/2014 00
Silver Standard Resources Inc.
Common Shares Park, Beverlee Faye 4 17/08/2015 10 8.76 5,790 5,790
SILVERCORP METALS INC. Common Shares without par value
Silvercorp Metals Inc. 1 30/09/2011 38 0 -550,000
SILVERCORP METALS INC. Common Shares without par value
Silvercorp Metals Inc. 1 31/07/2015 38 0 -320,000
SILVERCORP METALS INC. Common Shares without par value
Silvercorp Metals Inc. 1 20/08/2015 10 0.7188 123,671 123,671
SILVERCORP METALS INC. Common Shares without par value
Silvercorp Metals Inc. 1 20/08/2015 10 0.9588 470,072
SILVERCORP METALS INC. Common Shares without par value
Silvercorp Metals Inc. 1 20/08/2015 10 0.9588 170,743 47,072
SILVERCORP METALS INC. Common Shares without par value
Silvercorp Metals Inc. 1 21/08/2015 10 0.7193 290,743 120,000
SILVERCORP METALS INC. Common Shares without par value
Silvercorp Metals Inc. 1 21/08/2015 10 0.9263 348,743 58,000
Sintana Holdings Corp. (formerly Sintana Energy Inc.)
Subscription Rights Subscription Receipts
Maruzzo, Bruno 4 06/08/2015 22 -80,000
Sintana Holdings Corp. (formerly Sintana Energy Inc.)
Subscription Rights Subscription Receipts
Maruzzo, Bruno 4 06/08/2015 58 - Expiration of rights
0 -80,000
Sintana Holdings Corp. (formerly Sintana Energy Inc.)
Warrants Maruzzo, Bruno 4 06/08/2015 22 -40,000
Sintana Holdings Corp. (formerly Sintana Energy Inc.)
Warrants Maruzzo, Bruno 4 06/08/2015 55 0 -40,000
Insider Reporting
August 27, 2015
(2015), 38 OSCB 7463
Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Price
Date/Month End Holdings
Acquired/ Disposed
Sirius XM Canada Holdings Inc. (formerly Canadian Satellite Radio Holdings Inc.)
Subordinate Voting Shares
Redmond, Mark Laurence 5 17/08/2015 10 5.15 90,225 -5,000
Sirius XM Canada Holdings Inc. (formerly Canadian Satellite Radio Holdings Inc.)
Subordinate Voting Shares
Redmond, Mark Laurence 5 18/08/2015 10 5.15 -25,000
Sirius XM Canada Holdings Inc. (formerly Canadian Satellite Radio Holdings Inc.)
Subordinate Voting Shares
Redmond, Mark Laurence 5 18/08/2015 10 5.15 70,225 -20,000
Smart Employee Benefits Inc Common Shares HARRIS, KEITH RAYMOND
4 16/08/2015 51 0.33 375,000 100,000
Smart Employee Benefits Inc Options HARRIS, KEITH RAYMOND
4 16/08/2015 51 0.33 387,000 100,000
SNC-Lavalin Group Inc. Restricted Share Units/Unités d'actions incessibles
Edwards, Ian L. 5 17/08/2015 56 40.12 20,574 2,007
SNC-Lavalin Group Inc. Unités de participation en actions/Performance Share Units
Edwards, Ian L. 5 17/08/2015 56 40.12 15,860 3,010
SNC-Lavalin Group Inc. Common Shares RATE, Charles 5 08/08/2014 00 7,500
SNC-Lavalin Group Inc. Common Shares RATE, Charles 5 08/08/2014 00 8,743
SNC-Lavalin Group Inc. Common Shares RATE, Charles 5 08/08/2014 00 13,119
SNC-Lavalin Group Inc. Options RATE, Charles 5 08/08/2014 00 111,200
SNC-Lavalin Group Inc. Restricted Share Units/Unités d'actions incessibles
RATE, Charles 5 08/08/2014 00 5,160
SNC-Lavalin Group Inc. Unités d'actions différées (administrateurs)
RATE, Charles 5 08/08/2014 00
SNC-Lavalin Group Inc. Unités d'actions différées (hauts dirigeants)
RATE, Charles 5 08/08/2014 00 11,462
SNC-Lavalin Group Inc. Unités de participation en actions/Performance Share Units
RATE, Charles 5 08/08/2014 00 25,391
Sniper Resources Ltd. Options Cumming, John Charles Richard
4, 5 01/05/2013 00
Sniper Resources Ltd. Options Cumming, John Charles Richard
4, 5 01/05/2013 50 1,000,000 1,000,000
Sniper Resources Ltd. Options Cumming, John Charles Richard
4, 5 25/11/2013 50 1,790,000 790,000
Sniper Resources Ltd. Options Cumming, John Charles Richard
4, 5 18/09/2014 50 2,455,000 665,000
Solarvest BioEnergy Inc. Common Shares Greenham, Gerri Joseph 4 20/08/2015 10 0.25 8,110,000 7,000
Solium Capital Inc. Common Shares Moorehead, Colleen Jill 4 18/08/2015 51 1.5 216,061 86,516
Solium Capital Inc. Common Shares Moorehead, Colleen Jill 4 18/08/2015 10 7.7589 181,670 -34,391
Solium Capital Inc. Options Moorehead, Colleen Jill 4 18/08/2015 51 0 -86,516
Solium Capital Inc. Common Shares Muir, Thomas Pinaud 4 17/08/2015 51 1.5 160,551 112,500
Solium Capital Inc. Common Shares Muir, Thomas Pinaud 4 17/08/2015 10 7.9319 148,751 -11,800
Solium Capital Inc. Common Shares Muir, Thomas Pinaud 4 18/08/2015 10 7.7589 115,832 -32,919
Solium Capital Inc. Options Muir, Thomas Pinaud 4 17/08/2015 51 1.5 0 -112,500
Solvista Gold Corporation Common Shares Durham, Robert Bruce 4 13/08/2015 10 0.035 258,000 50,000
SouthGobi Resources Ltd. Common Shares Turquoise Hill Resources Ltd.
3 19/08/2015 10 0.65 54,414,765 -15,250
Spartan Energy Corp. (formerly Alexander Energy Ltd.)
Common Shares Boreen, Thomas Dale 5 14/08/2015 30 2.4204 882,364 1,033
Spartan Energy Corp. (formerly Alexander Energy Ltd.)
Common Shares KALANTZIS, FOTIS 5 14/08/2015 30 2.4204 1,959,392 1,033
Spartan Energy Corp. (formerly Alexander Energy Ltd.)
Common Shares MacDonald, Adam David 5 14/08/2015 30 2.4204 69,621 1,033
Spartan Energy Corp. (formerly Alexander Energy Ltd.)
Common Shares McHardy, Richard Francis 4, 5 14/08/2015 30 2.4204 294,743 1,136
Spartan Energy Corp. (formerly Alexander Energy Ltd.)
Common Shares Stark, Albert Jason 5 14/08/2015 30 2.4204 4,300,225 1,033
Insider Reporting
August 27, 2015
(2015), 38 OSCB 7464
Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Price
Date/Month End Holdings
Acquired/ Disposed
Spartan Energy Corp. (formerly Alexander Energy Ltd.)
Common Shares Wong, Eddie 5 14/08/2015 30 2.4204 1,749,642 1,033
Sparton Resources Inc. Common Shares Ding, Yongbiao 5 21/06/2011 00
Sparton Resources Inc. Common Shares Ding, Yongbiao 5 14/08/2015 11 250,000 250,000
Spot Coffee (Canada) Ltd. Common Shares AYOUB, ANTON MICHEL 4, 5 17/08/2015 10 0.035 868,458 8,000
Spot Coffee (Canada) Ltd. Common Shares AYOUB, ANTON MICHEL 4, 5 18/08/2015 10 0.035 879,458 11,000
Spot Coffee (Canada) Ltd. Common Shares AYOUB, ANTON MICHEL 4, 5 21/08/2015 10 0.035 885,458 6,000
Spot Coffee (Canada) Ltd. Common Shares Lorenzo, John Michael 4 17/08/2015 10 0.035 4,631,324 45,000
Sprott Inc. Common Shares Rule, Arthur Richards 3, 4 18/08/2015 10 2.1 24,007,613 300
Sprott Inc. Common Shares Rule, Arthur Richards 3, 4 19/08/2015 10 2.1 24,022,213 14,600
Spyglass Resources Corp. Common Shares Metzger, Steven 8 17/08/2015 10 0.14 0 -23,916
Stantec Inc. Common Shares Gomes, Robert 4, 7, 5 17/08/2015 51 14.7 145,852 15,000
Stantec Inc. Options Gomes, Robert 4, 7, 5 17/08/2015 51 14.7 178,402 -15,000
Stella-Jones Inc. Common Shares Eichenbaum, Marla 5 18/08/2015 10 45.905 2,000 -1,000
Sterling Resources Ltd. Common Shares Ingalls & Snyder, LLC 3 17/08/2015 10 0.061 40,864,407 -10,070
Stingray Digital Group Inc. Deferred Share Units (DSU)
Blondin, Claudine 4 26/05/2015 00
Stingray Digital Group Inc. Deferred Share Units (DSU)
Blondin, Claudine 4 17/08/2015 56 6.9437 1,872 1,872
Stingray Digital Group Inc. Deferred Share Units (DSU)
Menard, L. Jacques 4 26/05/2015 00
Stingray Digital Group Inc. Deferred Share Units (DSU)
Menard, L. Jacques 4 17/08/2015 56 6.9437 2,160 2,160
Stingray Digital Group Inc. Deferred Share Units (DSU)
Parisien, Jacques 4 26/05/2015 00
Stingray Digital Group Inc. Deferred Share Units (DSU)
Parisien, Jacques 4 17/08/2015 56 6.9437 1,944 1,944
Stingray Digital Group Inc. Deferred Share Units (DSU)
Pathy, Mark 4 26/05/2015 00
Stingray Digital Group Inc. Deferred Share Units (DSU)
Pathy, Mark 4 17/08/2015 56 6.9437 1,872 1,872
Stingray Digital Group Inc. Deferred Share Units (DSU)
Rich, Gary 4 26/05/2015 00
Stingray Digital Group Inc. Deferred Share Units (DSU)
Rich, Gary 4 17/08/2015 56 6.9437 1,944 1,944
Stingray Digital Group Inc. Deferred Share Units (DSU)
Sirois, François-Charles 4 27/05/2015 00
Stingray Digital Group Inc. Deferred Share Units (DSU)
Sirois, François-Charles 4 17/08/2015 56 6.9437 3,132 3,132
Stingray Digital Group Inc. Deferred Share Units (DSU)
Tremblay, Pascal 4 26/05/2015 00
Stingray Digital Group Inc. Deferred Share Units (DSU)
Tremblay, Pascal 4 17/08/2015 56 6.9437 2,196 2,196
Stonehaven Exploration Ltd. Common Shares Scalf, Murray 4 20/08/2015 10 0.7 182,080 10,000
Stonehaven Exploration Ltd. Common Shares Todd, Malcolm Frederick William
4 21/08/2015 10 0.6 206,000 5,000
Strad Energy Services Ltd. Common Shares Grandfield, Robert James 4, 5 18/08/2015 10 2.8 47,870 -2,900
Strad Energy Services Ltd. Common Shares Grandfield, Robert James 4, 5 20/08/2015 10 2.7 42,870 -5,000
Strike Diamond Corp. Common Shares Kalt, Ryan 3, 4, 5 17/08/2015 10 0.045 245,000 10,000
Strike Diamond Corp. Common Shares Kalt, Ryan 3, 4, 5 17/08/2015 10 0.045 260,000 15,000
Strike Diamond Corp. Common Shares Kalt, Ryan 3, 4, 5 18/08/2015 10 0.04 266,000 6,000
Strike Diamond Corp. Common Shares Kalt, Ryan 3, 4, 5 18/08/2015 10 0.04 316,000 50,000
Strike Diamond Corp. Common Shares Kalt, Ryan 3, 4, 5 20/08/2015 10 0.04 366,000 50,000
Strike Diamond Corp. Common Shares Kalt, Ryan 3, 4, 5 21/08/2015 10 0.045 476,000 110,000
Strike Diamond Corp. Common Shares Kalt, Ryan 3, 4, 5 21/08/2015 10 0.05 486,000 10,000
STT Enviro Corp. (formerly Semcan Inc.)
Options Berger, Bradley 4 25/06/2015 00
STT Enviro Corp. (formerly Semcan Inc.)
Options Berger, Bradley 4 18/08/2015 50 0.29 70,000 70,000
STT Enviro Corp. (formerly Semcan Inc.)
Common Shares CLARK, PETER 4 18/08/2015 51 0.13 566,612 60,000
STT Enviro Corp. (formerly Semcan Inc.)
Options CLARK, PETER 4 18/08/2015 51 0.13 330,000 -60,000
Insider Reporting
August 27, 2015
(2015), 38 OSCB 7465
Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Price
Date/Month End Holdings
Acquired/ Disposed
STT Enviro Corp. (formerly Semcan Inc.)
Options Osorio, Alina Mihaela 4 25/06/2015 00
STT Enviro Corp. (formerly Semcan Inc.)
Options Osorio, Alina Mihaela 4 18/08/2015 50 0.29 70,000 70,000
Summit Industrial Income REIT
Trust Units Morassutti, Lawrence 4 15/07/2015 30 5.6 36,045 268
Summit Industrial Income REIT
Trust Units Morassutti, Lawrence 4 15/08/2015 30 5.64 36,313 268
Summit Industrial Income REIT
Trust Units Morassutti, Lawrence 4 15/07/2015 30 5.6 1,279,025 9,283
Summit Industrial Income REIT
Trust Units Morassutti, Lawrence 4 13/08/2015 10 5.94 1,280,625 1,600
Summit Industrial Income REIT
Trust Units Morassutti, Lawrence 4 15/08/2015 30 5.64 1,290,152 9,527
Summit Industrial Income REIT
Trust Units Morassutti, Lawrence 4 17/08/2015 10 6 1,310,152 20,000
Summit Industrial Income REIT
Trust Units Morassutti, Lawrence 4 20/08/2015 10 5.957 1,318,552 8,400
Summit Industrial Income REIT
Trust Units Morassutti, Lawrence 4 20/08/2015 10 5.998 1,324,752 6,200
Sunshine Oilsands Ltd. Common Shares Class A Pawluk, Richard Walter 5 20/08/2015 11 0.13 3,447,760 206,760
Sunshine Oilsands Ltd. Common Shares Class A Sun, Kwok Ping 3, 4 17/08/2015 10 0.1097 237,165,000 20,000,000
Sunshine Oilsands Ltd. Common Shares Class A Sun, Kwok Ping 3, 4 18/08/2015 10 0.113 242,165,000 5,000,000
Surge Energy Inc. Common Shares Bennett, Michael James 5 30/07/2014 00 3,000
Surge Energy Inc. Common Shares Bennett, Michael James 5 17/08/2015 35 2.57 3,339 339
Surge Energy Inc. Rights Restricted Share Awards
Bennett, Michael James 5 15/08/2015 56 2.52 23,881 14,881
Surge Energy Inc. Rights Restricted Share Awards
Bennett, Michael James 5 17/08/2015 57 20,881 -3,000
Surge Energy Inc. Common Shares Brown, Daniel Curt 5 17/08/2015 57 2.57 258,756 9,631
Surge Energy Inc. Common Shares Brown, Daniel Curt 5 17/08/2015 35 2.57 259,846 1,090
Surge Energy Inc. Rights Performance Share Awards
Brown, Daniel Curt 5 15/08/2015 56 2.52 515,726 275,297
Surge Energy Inc. Rights Restricted Share Awards
Brown, Daniel Curt 5 15/08/2015 56 2.52 219,040 91,766
Surge Energy Inc. Rights Restricted Share Awards
Brown, Daniel Curt 5 17/08/2015 57 209,409 -9,631
Surge Energy Inc. Common Shares Bye, Murray 5 16/04/2015 30 3.93 121,631 133
Surge Energy Inc. Common Shares Bye, Murray 5 30/04/2015 30 4.38 121,743 112
Surge Energy Inc. Common Shares Bye, Murray 5 19/05/2015 30 4.04 121,874 131
Surge Energy Inc. Common Shares Bye, Murray 5 01/06/2015 30 4.03 121,995 121
Surge Energy Inc. Common Shares Bye, Murray 5 16/06/2015 30 3.63 122,143 148
Surge Energy Inc. Common Shares Bye, Murray 5 30/06/2015 30 3.59 122,280 137
Surge Energy Inc. Common Shares Bye, Murray 5 17/08/2015 57 2.57 131,151 8,871
Surge Energy Inc. Common Shares Bye, Murray 5 17/08/2015 35 2.52 1,004
Surge Energy Inc. Common Shares Bye, Murray 5 17/08/2015 35 2.57 132,155 1,004
Surge Energy Inc. Common Shares Bye, Murray 5 16/04/2015 30 3.93 12,023 180
Surge Energy Inc. Common Shares Bye, Murray 5 30/04/2015 30 4.38 12,135 112
Surge Energy Inc. Common Shares Bye, Murray 5 19/05/2015 30 4.04 12,313 178
Surge Energy Inc. Common Shares Bye, Murray 5 01/06/2015 30 4.03 12,434 121
Surge Energy Inc. Common Shares Bye, Murray 5 16/06/2015 30 3.63 12,634 200
Surge Energy Inc. Common Shares Bye, Murray 5 30/06/2015 30 3.59 12,771 137
Surge Energy Inc. Rights Performance Share Awards
Bye, Murray 5 15/08/2015 56 2.52 415,491 230,655
Surge Energy Inc. Rights Restricted Share Awards
Bye, Murray 5 15/08/2015 56 2.52 177,952 76,885
Surge Energy Inc. Rights Restricted Share Awards
Bye, Murray 5 17/08/2015 57 -8,871
Surge Energy Inc. Rights Restricted Share Awards
Bye, Murray 5 17/08/2015 57 169,081 -8,871
Surge Energy Inc. Common Shares Colborne, Paul 4 30/12/2014 10 3.64 2,860,485
Surge Energy Inc. Common Shares Colborne, Paul 4 30/12/2014 90 3.64 2,860,485
Surge Energy Inc. Common Shares Colborne, Paul 4 30/12/2014 90 3.64 2,860,485 2,860,485
Insider Reporting
August 27, 2015
(2015), 38 OSCB 7466
Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Price
Date/Month End Holdings
Acquired/ Disposed
Surge Energy Inc. Common Shares Colborne, Paul 4 15/04/2015 10 3.82 -2,860,485
Surge Energy Inc. Common Shares Colborne, Paul 4 15/04/2015 90 3.82 0 -2,860,485
Surge Energy Inc. Common Shares Colborne, Paul 4 30/12/2014 10 3.64 -2,860,485
Surge Energy Inc. Common Shares Colborne, Paul 4 30/12/2014 90 3.64 -10,465 -2,860,485
Surge Energy Inc. Common Shares Colborne, Paul 4 15/01/2015 30 2.8 -9,308 656
Surge Energy Inc. Common Shares Colborne, Paul 4 31/01/2015 30 2.51 -8,710 598
Surge Energy Inc. Common Shares Colborne, Paul 4 15/04/2015 10 3.82 2,860,485
Surge Energy Inc. Common Shares Colborne, Paul 4 15/04/2015 90 3.82 2,852,728 2,860,485
Surge Energy Inc. Common Shares Colborne, Paul 4 15/07/2015 30 3.075 3,064,527 592
Surge Energy Inc. Common Shares Colborne, Paul 4 31/07/2015 30 2.4 3,065,152 625
Surge Energy Inc. Common Shares Colborne, Paul 4 17/08/2015 57 2.57 3,079,345 14,193
Surge Energy Inc. Common Shares Colborne, Paul 4 17/08/2015 35 2.57 3,080,951 1,606
Surge Energy Inc. Rights Performance Share Awards
Colborne, Paul 4 15/08/2015 56 2.52 843,689 505,952
Surge Energy Inc. Rights Restricted Share Awards
Colborne, Paul 4 15/08/2015 56 2.52 281,230 168,651
Surge Energy Inc. Rights Restricted Share Awards
Colborne, Paul 4 17/08/2015 57 267,037 -14,193
Surge Energy Inc. Common Shares Davies, Colin William Graham
4 17/08/2015 57 2.57 194,179 3,041
Surge Energy Inc. Common Shares Davies, Colin William Graham
4 17/08/2015 35 2.57 194,523 344
Surge Energy Inc. Rights Restricted Share Awards
Davies, Colin William Graham
4 15/08/2015 56 2.52 51,019 29,762
Surge Energy Inc. Rights Restricted Share Awards
Davies, Colin William Graham
4 17/08/2015 57 47,978 -3,041
Surge Energy Inc. Common Shares de Leeuw, Gerard A. 5 17/08/2015 57 2.57 107,995 50,250
Surge Energy Inc. Common Shares de Leeuw, Gerard A. 5 17/08/2015 35 2.57 112,457 4,462
Surge Energy Inc. Rights Performance Share Awards
de Leeuw, Gerard A. 5 15/08/2015 56 2.52 275,143 200,893
Surge Energy Inc. Rights Restricted Share Awards
de Leeuw, Gerard A. 5 15/08/2015 56 2.52 217,714 66,964
Surge Energy Inc. Rights Restricted Share Awards
de Leeuw, Gerard A. 5 17/08/2015 57 267,964 50,250
Surge Energy Inc. Common Shares Elekes, Margaret Ann 5 17/08/2015 57 2.57 131,869 8,364
Surge Energy Inc. Common Shares Elekes, Margaret Ann 5 17/08/2015 35 2.57 132,815 946
Surge Energy Inc. Rights Performance Share Awards
Elekes, Margaret Ann 5 15/08/2015 56 2.52 418,429 230,655
Surge Energy Inc. Rights Restricted Share Awards
Elekes, Margaret Ann 5 15/08/2015 56 2.52 178,098 76,885
Surge Energy Inc. Rights Restricted Share Awards
Elekes, Margaret Ann 5 17/08/2015 57 169,734 -8,364
Surge Energy Inc. Common Shares Gilbert, Daryl Harvey 4 17/08/2015 57 2.57 16,225 3,041
Surge Energy Inc. Common Shares Gilbert, Daryl Harvey 4 17/08/2015 35 2.57 16,569 344
Surge Energy Inc. Rights Restricted Share Awards
Gilbert, Daryl Harvey 4 15/08/2015 56 2.52 38,886 29,762
Surge Energy Inc. Rights Restricted Share Awards
Gilbert, Daryl Harvey 4 17/08/2015 57 35,845 -3,041
Surge Energy Inc. Common Shares Leach, Robert Allen 4 17/08/2015 57 2.57 531,978 3,041
Surge Energy Inc. Common Shares Leach, Robert Allen 4 17/08/2015 35 2.57 532,322 344
Surge Energy Inc. Rights Restricted Share Awards
Leach, Robert Allen 4 15/08/2015 56 2.52 51,019 29,762
Surge Energy Inc. Rights Restricted Share Awards
Leach, Robert Allen 4 17/08/2015 57 54,060 3,041
Surge Energy Inc. Common Shares Macdonald, Keith Elliott 4 17/08/2015 57 2.57 54,265 3,041
Surge Energy Inc. Common Shares Macdonald, Keith Elliott 4 17/08/2015 35 2.57 54,609 344
Surge Energy Inc. Rights Restricted Share Awards
Macdonald, Keith Elliott 4 15/08/2015 56 2.52 51,019 29,762
Surge Energy Inc. Rights Restricted Share Awards
Macdonald, Keith Elliott 4 17/08/2015 57 2.57 47,978 -3,041
Surge Energy Inc. Common Shares Monden, Rod J 5 17/08/2015 57 2.57 53,851 9,500
Surge Energy Inc. Common Shares Monden, Rod J 5 17/08/2015 35 2.57 54,926 1,075
Insider Reporting
August 27, 2015
(2015), 38 OSCB 7467
Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Price
Date/Month End Holdings
Acquired/ Disposed
Surge Energy Inc. Rights Performance Share Awards
Monden, Rod J 5 06/08/2015 00 51,000
Surge Energy Inc. Rights Performance Share Awards
Monden, Rod J 5 15/08/2015 56 2.52 90,682 39,682
Surge Energy Inc. Rights Restricted Share Awards
Monden, Rod J 5 06/08/2015 00 53,000
Surge Energy Inc. Rights Restricted Share Awards
Monden, Rod J 5 15/08/2015 56 2.52 92,683 39,683
Surge Energy Inc. Rights Restricted Share Awards
Monden, Rod J 5 17/08/2015 57 102,183 9,500
Surge Energy Inc. Common Shares O'Neil, Peter Dan 5 17/08/2015 57 2.57 140,951 3,041
Surge Energy Inc. Common Shares O'Neil, Peter Dan 5 17/08/2015 35 2.57 141,295 344
Surge Energy Inc. Rights Restricted Share Awards
O'Neil, Peter Dan 5 15/08/2015 56 2.52 63,153 29,762
Surge Energy Inc. Rights Restricted Share Awards
O'Neil, Peter Dan 5 17/08/2015 57 3,041
Surge Energy Inc. Rights Restricted Share Awards
O'Neil, Peter Dan 5 17/08/2015 57 60,112 -3,041
Surge Energy Inc. Common Shares Pasieka, James Murray 4 17/08/2015 57 2.57 278,222 2,596
Surge Energy Inc. Common Shares Pasieka, James Murray 4 17/08/2015 57 2.57 281,263 3,041
Surge Energy Inc. Common Shares Pasieka, James Murray 4 17/08/2015 35 2.57 281,385 122
Surge Energy Inc. Common Shares Pasieka, James Murray 4 17/08/2015 35 2.57 281,729 344
Surge Energy Inc. Rights Restricted Share Awards
Pasieka, James Murray 4 15/08/2015 56 2.52 2,596
Surge Energy Inc. Rights Restricted Share Awards
Pasieka, James Murray 4 15/08/2015 56 2.52 19,508 2,596
Surge Energy Inc. Rights Restricted Share Awards
Pasieka, James Murray 4 15/08/2015 56 2.52 3,041
Surge Energy Inc. Rights Restricted Share Awards
Pasieka, James Murray 4 15/08/2015 56 2.52 22,549 3,041
Surge Energy Inc. Rights Restricted Share Awards
Pasieka, James Murray 4 17/08/2015 57 2.57 19,953 -2,596
Surge Energy Inc. Rights Restricted Share Awards
Pasieka, James Murray 4 17/08/2015 57 2.57 16,912 -3,041
Surge Energy Inc. Common Shares Smith, Murray Douglas 4 17/08/2015 57 2.57 63,009 3,041
Surge Energy Inc. Common Shares Smith, Murray Douglas 4 17/08/2015 35 2.57 63,353 344
Surge Energy Inc. Rights Restricted Share Awards
Smith, Murray Douglas 4 15/08/2015 56 2.52 51,019 29,762
Surge Energy Inc. Rights Restricted Share Awards
Smith, Murray Douglas 4 17/08/2015 57 47,978 -3,041
Symbility Solutions Inc. (formerly Automated Benefits Corp.)
Common Shares Landry, Robert 4 18/08/2015 10 0.29 394,580 20,000
Symbility Solutions Inc. (formerly Automated Benefits Corp.)
Common Shares Torok, Michael Patrick 4 18/08/2015 10 0.2169 1,136,500 99,500
Synex International Inc. Common Shares Russell, Daniel 3 19/08/2015 10 0.45 9,444,000 -1,000
Synex International Inc. Common Shares Russell, Daniel 3 21/08/2015 10 0.44 9,435,500 -8,500
Synex International Inc. Common Shares sunell, gregory jack 3, 4, 7, 1 19/08/2015 10 0.46 4,338,589 13,000
Synex International Inc. Common Shares sunell, gregory jack 3, 4, 7, 1 21/08/2015 10 0.44 4,347,089 8,500
TAG Oil Ltd Common Shares Jacobs, Frank 5 18/08/2015 10 1.15 10,000 5,000
TAG Oil Ltd Common Shares Pierce, Toby Robert 5 19/08/2015 10 1.07 56,200 10,000
TAG Oil Ltd Common Shares Pierce, Toby Robert 5 20/08/2015 10 1.03 61,200 5,000
TAG Oil Ltd Common Shares Pierce, Toby Robert 5 20/08/2015 10 0.99 66,200 5,000
TAG Oil Ltd Common Shares Pierce, Toby Robert 5 21/08/2015 10 0.99 68,700 2,500
TAG Oil Ltd Common Shares TAG Oil Ltd. 1 20/08/2015 10 1.04 27,000 27,000
Tahoe Resources Inc. Common Shares Fernandez-Concha Stucker, Javier Martin
5 20/08/2015 51 6.13 219,648 7,029
Tahoe Resources Inc. Options Fernandez-Concha Stucker, Javier Martin
5 20/08/2015 51 6.13 83,609 -7,029
Talon Metals Corp. Common Shares Kaplan, John David 4 19/08/2015 97 0 -437,643
Talon Metals Corp. Common Shares Kaplan, John David 4 24/06/2013 00
Talon Metals Corp. Common Shares Kaplan, John David 4 24/06/2013 00
Talon Metals Corp. Common Shares Kaplan, John David 4 19/08/2015 97 437,643 437,643
Insider Reporting
August 27, 2015
(2015), 38 OSCB 7468
Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Price
Date/Month End Holdings
Acquired/ Disposed
Tarku Resources Ltd. (formerly ITUNA Capital Corporation)
Common Shares MacNeill, Tom 4 17/08/2015 10 0.055 2,216,500 10,000
Tarku Resources Ltd. (formerly ITUNA Capital Corporation)
Common Shares MacNeill, Tom 4 20/08/2015 10 0.055 2,236,500 20,000
Tartisan Resources Corp. Common Shares Appleby, D. Mark 4, 5 27/03/2015 46 0.05 1,910,700 1,575,700
Tech Achievers Growth & Income Fund
Units Tech Achievers Growth & Income Fund
1 14/08/2015 38 3,100 3,100
Tech Achievers Growth & Income Fund
Units Tech Achievers Growth & Income Fund
1 14/08/2015 38 0 -3,100
Tech Achievers Growth & Income Fund
Units Tech Achievers Growth & Income Fund
1 17/08/2015 38 6,200 6,200
Tech Achievers Growth & Income Fund
Units Tech Achievers Growth & Income Fund
1 17/08/2015 38 0 -6,200
Tech Achievers Growth & Income Fund
Units Tech Achievers Growth & Income Fund
1 19/08/2015 38 4,200 4,200
Tech Achievers Growth & Income Fund
Units Tech Achievers Growth & Income Fund
1 19/08/2015 38 0 -4,200
Teck Resources Limited Class B Subordinate Voting Shares
Andres, Dale Edwin 5 17/08/2015 10 9 35,000 5,000
Teck Resources Limited Class B Subordinate Voting Shares
Andres, Dale Edwin 5 18/08/2015 10 8.32 38,000 3,000
Telesta Therapeutics Inc. (formerly known as, Bioniche Life Sciences Inc.)
Common Shares Bastien, Yvon 4 05/11/2013 00
Telesta Therapeutics Inc. (formerly known as, Bioniche Life Sciences Inc.)
Common Shares Bastien, Yvon 4 18/08/2015 11 0.3405 117,474 117,474
Telesta Therapeutics Inc. (formerly known as, Bioniche Life Sciences Inc.)
Common Shares Berendt, Michael Joseph 5 18/08/2015 11 0.2623 310,602 190,602
Telesta Therapeutics Inc. (formerly known as, Bioniche Life Sciences Inc.)
Common Shares Fortin, Lyne 4 18/08/2015 11 0.3405 150,290 102,790
Telesta Therapeutics Inc. (formerly known as, Bioniche Life Sciences Inc.)
Common Shares Fortin, Lyne 4 05/11/2013 00
Telesta Therapeutics Inc. (formerly known as, Bioniche Life Sciences Inc.)
Common Shares Fortin, Lyne 4 18/08/2015 11 0.3405 132,159 132,159
Telesta Therapeutics Inc. (formerly known as, Bioniche Life Sciences Inc.)
Common Shares Olds, Donald John 5 18/08/2015 11 0.3405 202,159 82,159
Telesta Therapeutics Inc. (formerly known as, Bioniche Life Sciences Inc.)
Common Shares Rae, James Moodie 4 18/08/2015 11 0.3405 184,740 50,000
Terra Firma Capital Corporation
Common Shares Kaplan, John David 3, 4 13/08/2015 10 0.73 -400,000
Terra Firma Capital Corporation
Common Shares Kaplan, John David 3, 4 13/08/2015 10 0.73 -400,000
Terra Firma Capital Corporation
Common Shares Kaplan, John David 3, 4 13/08/2015 10 0.73 -400,000
Terra Firma Capital Corporation
Common Shares Kaplan, John David 3, 4 13/08/2015 10 0.73 7,186,946 -400,000
Terra Firma Capital Corporation
Common Shares Kaplan, John David 3, 4 13/08/2015 11 0.73 -400,000
Terra Firma Capital Corporation
Common Shares Kaplan, John David 3, 4 13/08/2015 11 0.73 -400,000
Terra Firma Capital Corporation
Common Shares Kaplan, John David 3, 4 19/08/2015 97 0 -7,186,946
Terra Firma Capital Corporation
Common Shares Kaplan, John David 3, 4 11/10/2013 00
Terra Firma Capital Corporation
Common Shares Kaplan, John David 3, 4 11/10/2013 00
Terra Firma Capital Corporation
Common Shares Kaplan, John David 3, 4 19/08/2015 97 7,186,946 7,186,946
Terra Firma Capital Corporation
Common Shares Kaplan, John David 3, 4 20/08/2015 10 0.71 6,986,946 -200,000
Insider Reporting
August 27, 2015
(2015), 38 OSCB 7469
Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Price
Date/Month End Holdings
Acquired/ Disposed
Terra Firma Capital Corporation
Common Shares Meyer, Yisrael Dov 5 13/08/2015 11 0.73 400,000
Terra Firma Capital Corporation
Common Shares Meyer, Yisrael Dov 5 13/08/2015 11 0.73 400,000
Terra Firma Capital Corporation
Common Shares Meyer, Yisrael Dov 5 20/08/2015 10 0.71 2,648,661 200,000
THE CALDWELL PARTNERS INTERNATIONAL INC.
Common Shares Falagario, Michael R.J. 7 21/08/2015 10 1.2568 165,000 10,000
The Jean Coutu Group (PJC) Inc.
Subordinate Voting Shares Catégorie A
Coutu, Jean 3, 4, 5 17/08/2015 10 20.8 393,900 5,000
The Jean Coutu Group (PJC) Inc.
Subordinate Voting Shares Catégorie A
Coutu, Jean 3, 4, 5 17/08/2015 10 20.75 398,900 5,000
The Jean Coutu Group (PJC) Inc.
Subordinate Voting Shares Catégorie A
Coutu, Jean 3, 4, 5 17/08/2015 10 20.7 403,900 5,000
The Jean Coutu Group (PJC) Inc.
Subordinate Voting Shares Catégorie A
Coutu, Jean 3, 4, 5 18/08/2015 10 20.7 404,400 500
The Jean Coutu Group (PJC) Inc.
Subordinate Voting Shares Catégorie A
Coutu, Jean 3, 4, 5 18/08/2015 10 20.65 404,900 500
The Jean Coutu Group (PJC) Inc.
Subordinate Voting Shares Catégorie A
Coutu, Jean 3, 4, 5 18/08/2015 10 20.74 405,400 500
The Jean Coutu Group (PJC) Inc.
Subordinate Voting Shares Catégorie A
Coutu, Jean 3, 4, 5 18/08/2015 10 20.75 405,900 500
The Jean Coutu Group (PJC) Inc.
Subordinate Voting Shares Catégorie A
Coutu, Jean 3, 4, 5 18/08/2015 10 20.75 407,900 2,000
The Jean Coutu Group (PJC) Inc.
Subordinate Voting Shares Catégorie A
Coutu, Jean 3, 4, 5 18/08/2015 10 20.75 409,900 2,000
The Jean Coutu Group (PJC) Inc.
Subordinate Voting Shares Catégorie A
Coutu, Jean 3, 4, 5 18/08/2015 10 20.75 411,900 2,000
The Jean Coutu Group (PJC) Inc.
Subordinate Voting Shares Catégorie A
Coutu, Jean 3, 4, 5 18/08/2015 10 20.74 413,900 2,000
The Jean Coutu Group (PJC) Inc.
Subordinate Voting Shares Catégorie A
Coutu, Jean 3, 4, 5 18/08/2015 10 20.73 415,900 2,000
The Jean Coutu Group (PJC) Inc.
Subordinate Voting Shares Catégorie A
Coutu, Jean 3, 4, 5 19/08/2015 10 20.35 415,902 2
The Jean Coutu Group (PJC) Inc.
Subordinate Voting Shares Catégorie A
Coutu, Jean 3, 4, 5 19/08/2015 10 20.355 416,002 100
The Jean Coutu Group (PJC) Inc.
Subordinate Voting Shares Catégorie A
Coutu, Jean 3, 4, 5 19/08/2015 10 20.37 417,451 1,449
The Jean Coutu Group (PJC) Inc.
Subordinate Voting Shares Catégorie A
Coutu, Jean 3, 4, 5 19/08/2015 10 20.45 419,451 2,000
The Jean Coutu Group (PJC) Inc.
Subordinate Voting Shares Catégorie A
Coutu, Jean 3, 4, 5 19/08/2015 10 20.5 427,451 8,000
Thompson Creek Metals Company Inc.
Options Drover, Kevin Cameron 4 07/05/2015 00
Thompson Creek Metals Company Inc.
Options Drover, Kevin Cameron 4 17/08/2015 50 50,000 50,000
Thompson Creek Metals Company Inc.
Rights Restricted Share Units
Drover, Kevin Cameron 4 07/05/2015 00
Thompson Creek Metals Company Inc.
Rights Restricted Share Units
Drover, Kevin Cameron 4 17/08/2015 56 141,667 141,667
Thomson Reuters Corporation
Common Shares The Woodbridge Company Limited
3 18/08/2015 10 53.4 452,700,909 -515,000
Thomson Reuters Corporation
Common Shares Warwick, Peter 7 01/04/2011 97 34,111
Thomson Reuters Corporation
Common Shares Warwick, Peter 7 01/04/2011 97 27,186 9,868
Thunderbird Resorts, Inc. Common Shares Atallah, Albert 4, 5 19/08/2015 46 0.5 477,981 300,000
Thunderbird Resorts, Inc. Options Atallah, Albert 4, 5 17/08/2015 52 2.1 22,033 -12,000
Thunderbird Resorts, Inc. Common Shares LeSar, Peter 5 06/01/2011 00
Thunderbird Resorts, Inc. Common Shares LeSar, Peter 5 19/08/2015 46 0.5 250,000 250,000
Thunderbird Resorts, Inc. Common Shares Monaldo, Tino Michael 5 19/08/2015 46 0.5 453,017 300,000
Timbercreek Global Real Estate Fund
Units Class A Timbercreek Asset Management Inc.
2 18/08/2015 10 13.6 7,600 400
Timbercreek Global Real Estate Fund
Units Class A Timbercreek Asset Management Inc.
2 18/08/2015 10 13.6 7,700 100
Insider Reporting
August 27, 2015
(2015), 38 OSCB 7470
Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Price
Date/Month End Holdings
Acquired/ Disposed
Timbercreek Global Real Estate Fund
Units Class A Timbercreek Asset Management Inc.
2 18/08/2015 10 13.79 8,200 500
Timbercreek Global Real Estate Fund
Units Class A Timbercreek Asset Management Inc.
2 18/08/2015 10 13.7 8,700 500
Timbercreek Global Real Estate Fund
Units Class A Timbercreek Asset Management Inc.
2 18/08/2015 10 13.79 9,200 500
Timbercreek Global Real Estate Fund
Units Class A Timbercreek Asset Management Inc.
2 19/08/2015 10 13.75 9,700 500
Timbercreek Senior Mortgage Investment Corporation
Common Shares Bizzarri, Ugo 5 19/08/2015 10 8 15,370 1,300
Timbercreek Senior Mortgage Investment Corporation
Common Shares Bizzarri, Ugo 5 19/08/2015 10 8 16,020 650
Timbercreek Senior Mortgage Investment Corporation
Common Shares Timbercreek Senior Mortgage Investment Corporation
1 10/06/2013 00
Timbercreek Senior Mortgage Investment Corporation
Common Shares Timbercreek Senior Mortgage Investment Corporation
1 20/08/2015 38 7.75 3,000
Timbercreek Senior Mortgage Investment Corporation
Common Shares Timbercreek Senior Mortgage Investment Corporation
1 20/08/2015 38 7.75 3,000
Timbercreek Senior Mortgage Investment Corporation
Common Shares Timbercreek Senior Mortgage Investment Corporation
1 20/08/2015 38 -3,000
Timbercreek Senior Mortgage Investment Corporation
Common Shares Timbercreek Senior Mortgage Investment Corporation
1 20/08/2015 38 -3,000
Timmins Gold Corp. Common Shares Prins, Darren 5 18/08/2015 10 0.355 30,000 20,000
Tintina Mines Limited Promissory Notes Grid Note Loan Agreement
rassmuss, juan 3, 4, 5 17/08/2015 11 $11,221,485 $50,000
TMAC Resources Inc. Options Carrelo, Joao 4 26/06/2015 00
TMAC Resources Inc. Options Carrelo, Joao 4 14/08/2015 50 60,000 60,000
TMX Group Limited Options Desgagne, Jean 5 14/08/2015 50 46.63 178,809 7,188
TMX Group Limited Rights Performance Share Units
Desgagne, Jean 5 14/08/2015 56 46.63 3,199 748
TMX Group Limited Rights Restricted Share Units
Desgagne, Jean 5 14/08/2015 56 46.63 26,438 748
TORC Oil & Gas Ltd. Common Shares Canada Pension Plan Investment Board
3 17/08/2015 35 17,751,473 275,433
TORC Oil & Gas Ltd. Common Shares Zabinsky, Jason 5 13/08/2015 10 6.707 728,030 30,000
TORC Oil & Gas Ltd. Common Shares Zabinsky, Jason 5 19/11/2012 00
TORC Oil & Gas Ltd. Common Shares Zabinsky, Jason 5 13/08/2015 10 6.667 10,000 10,000
TORC Oil & Gas Ltd. Common Shares Zabinsky, Jason 5 18/08/2015 10 6.02 25,000 15,000
TORC Oil & Gas Ltd. Common Shares Zabinsky, Jason 5 13/08/2015 10 6.71 23,765 10,000
Toromont Industries Ltd. Common Shares Medhurst, Scott 4, 5 19/08/2015 51 17.1 104,303 8,000
Toromont Industries Ltd. Common Shares Medhurst, Scott 4, 5 19/08/2015 10 36.835 104,203 -100
Toromont Industries Ltd. Common Shares Medhurst, Scott 4, 5 19/08/2015 10 36.83 103,803 -400
Toromont Industries Ltd. Common Shares Medhurst, Scott 4, 5 19/08/2015 10 36.825 103,703 -100
Toromont Industries Ltd. Common Shares Medhurst, Scott 4, 5 19/08/2015 10 36.82 103,203 -500
Toromont Industries Ltd. Common Shares Medhurst, Scott 4, 5 19/08/2015 10 36.81 102,603 -600
Toromont Industries Ltd. Common Shares Medhurst, Scott 4, 5 19/08/2015 10 36.795 100,403 -2,200
Toromont Industries Ltd. Common Shares Medhurst, Scott 4, 5 19/08/2015 10 36.79 99,403 -1,000
Toromont Industries Ltd. Common Shares Medhurst, Scott 4, 5 19/08/2015 10 36.775 96,503 -2,900
Toromont Industries Ltd. Common Shares Medhurst, Scott 4, 5 19/08/2015 10 36.765 96,403 -100
Toromont Industries Ltd. Common Shares Medhurst, Scott 4, 5 19/08/2015 10 36.76 96,303 -100
Toromont Industries Ltd. Common Shares Medhurst, Scott 4, 5 20/08/2015 51 17.1 98,303 2,000
Toromont Industries Ltd. Options Medhurst, Scott 4, 5 19/08/2015 51 17.1 402,000 -8,000
Toromont Industries Ltd. Options Medhurst, Scott 4, 5 20/08/2015 51 17.1 400,000 -2,000
Toromont Industries Ltd. Common Shares Ogilvie, Robert M. 4, 5 18/08/2015 51 12.42 192,580 6,500
Toromont Industries Ltd. Common Shares Ogilvie, Robert M. 4, 5 18/08/2015 10 36.8 192,080 -500
Toromont Industries Ltd. Common Shares Ogilvie, Robert M. 4, 5 18/08/2015 10 36.76 191,080 -1,000
Toromont Industries Ltd. Common Shares Ogilvie, Robert M. 4, 5 18/08/2015 10 36.72 190,980 -100
Insider Reporting
August 27, 2015
(2015), 38 OSCB 7471
Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Price
Date/Month End Holdings
Acquired/ Disposed
Toromont Industries Ltd. Common Shares Ogilvie, Robert M. 4, 5 18/08/2015 10 36.69 189,880 -1,100
Toromont Industries Ltd. Common Shares Ogilvie, Robert M. 4, 5 18/08/2015 10 36.68 189,380 -500
Toromont Industries Ltd. Common Shares Ogilvie, Robert M. 4, 5 18/08/2015 10 36.67 188,980 -400
Toromont Industries Ltd. Common Shares Ogilvie, Robert M. 4, 5 18/08/2015 10 36.66 188,680 -300
Toromont Industries Ltd. Common Shares Ogilvie, Robert M. 4, 5 18/08/2015 10 36.65 187,880 -800
Toromont Industries Ltd. Common Shares Ogilvie, Robert M. 4, 5 18/08/2015 10 36.64 187,380 -500
Toromont Industries Ltd. Common Shares Ogilvie, Robert M. 4, 5 18/08/2015 10 36.63 186,880 -500
Toromont Industries Ltd. Common Shares Ogilvie, Robert M. 4, 5 18/08/2015 10 36.62 186,380 -500
Toromont Industries Ltd. Common Shares Ogilvie, Robert M. 4, 5 18/08/2015 10 36.6 186,080 -300
Toromont Industries Ltd. Common Shares Ogilvie, Robert M. 4, 5 19/08/2015 51 12.42 189,380 3,300
Toromont Industries Ltd. Common Shares Ogilvie, Robert M. 4, 5 19/08/2015 10 36.72 188,880 -500
Toromont Industries Ltd. Common Shares Ogilvie, Robert M. 4, 5 19/08/2015 10 36.74 188,380 -500
Toromont Industries Ltd. Common Shares Ogilvie, Robert M. 4, 5 19/08/2015 10 36.85 188,080 -300
Toromont Industries Ltd. Common Shares Ogilvie, Robert M. 4, 5 19/08/2015 10 36.8 187,580 -500
Toromont Industries Ltd. Common Shares Ogilvie, Robert M. 4, 5 19/08/2015 10 36.75 186,080 -1,500
Toromont Industries Ltd. Options Ogilvie, Robert M. 4, 5 18/08/2015 51 12.42 233,500 -6,500
Toromont Industries Ltd. Options Ogilvie, Robert M. 4, 5 19/08/2015 51 12.42 230,200 -3,300
Toromont Industries Ltd. Common Shares Wetherald, David 5 14/08/2015 51 17.1 26,200 5,000
Toromont Industries Ltd. Common Shares Wetherald, David 5 14/08/2015 10 36.9 21,200 -5,000
Toromont Industries Ltd. Options Wetherald, David 5 14/08/2015 51 17.1 86,000 -5,000
Torstar Corporation Non-Voting Shares Class B
McLeod, Ian Alexander 7 17/08/2015 10 4.18 5,350 100
Torstar Corporation Non-Voting Shares Class B
McLeod, Ian Alexander 7 17/08/2015 10 4.19 5,950 600
Torstar Corporation Non-Voting Shares Class B
McLeod, Ian Alexander 7 17/08/2015 10 4.2 6,450 500
Torstar Corporation Non-Voting Shares Class B
McLeod, Ian Alexander 7 17/08/2015 10 4.21 6,750 300
Total Energy Services Inc. Options Kosich, William John George
5 29/07/2015 50 135,000 135,000
Total Energy Services Inc. Options Kosich, William John George
5 12/08/2015 00
Total Energy Services Inc. Common Shares Kwasnicia, Randy 4 20/08/2015 10 13.9 106,500 1,500
Tourmaline Oil Corp. Common Shares Elick, John William 4 18/08/2015 22 33,870 910
Tourmaline Oil Corp. Common Shares Rose, Mike 5 19/08/2015 10 30.659 10,852,926 2,500
Tourmaline Oil Corp. Common Shares Rose, Mike 5 21/08/2015 10 29.67 10,855,426 2,500
Transition Metals Corp. Common Shares McLean, Scott 5 20/08/2015 10 0.08 73,500 5,000
Transition Metals Corp. Common Shares McLean, Scott 5 20/08/2015 10 0.09 78,500 5,000
Transition Therapeutics Inc. Warrants 4.60 CRUZ, TONY 4, 5 15/08/2015 55 4.6 0 -15,513
Transition Therapeutics Inc. Warrants 6.50 CRUZ, TONY 4, 5 15/08/2015 55 6.5 0 -19,093
Transition Therapeutics Inc. Warrants $4.60 Warrants Damiani, Carl 5 15/08/2015 55 4.6 0 -3,879
Transition Therapeutics Inc. Warrants $6.50 Warrants Damiani, Carl 5 15/08/2015 55 6.5 0 -4,774
Transition Therapeutics Inc. Warrants 4.60 Pace, Gary W. 4 15/08/2015 55 4.6 0 -3,878
Transition Therapeutics Inc. Warrants 6.50 Pace, Gary W. 4 15/08/2015 55 6.5 0 -4,773
Treasury Metals Inc. Common Shares Walter, Martin 4, 5 19/08/2015 10 0.55 2,649,166 -10,000
Treasury Metals Inc. Common Shares Walter, Martin 4, 5 20/08/2015 10 0.5433 2,631,166 -18,000
Trez Capital Senior Mortgage Investment Corporation
Class A Shares ROBERTSON, STEWART JAMES LANDERS
4 13/08/2015 10 7.43 5,200 5,200
Trez Capital Senior Mortgage Investment Corporation
Class A Shares ROBERTSON, STEWART JAMES LANDERS
4 14/08/2015 10 7.4 5,400 200
Trican Well Service Ltd. Options Employee Stock Options
Browne, David James 5 13/08/2015 52 15.74 94,400 -15,000
Tricon Capital Group Inc. Common Shares Berman, David 3, 4, 6, 5 15/08/2015 57 11.33 23,000
Tricon Capital Group Inc. Common Shares Berman, David 3, 4, 6, 5 17/08/2015 57 11.33 622,995 23,000
Tricon Capital Group Inc. Phantom Units Berman, David 3, 4, 6, 5 15/08/2015 57 11.33 -45,572
Tricon Capital Group Inc. Phantom Units Berman, David 3, 4, 6, 5 17/08/2015 57 11.33 56,658 -45,572
Tricon Capital Group Inc. Common Shares Berman, Gary 4, 5 15/08/2015 57 11.33 11,795
Tricon Capital Group Inc. Common Shares Berman, Gary 4, 5 17/08/2015 57 11.33 298,129 11,795
Tricon Capital Group Inc. Common Shares Berman, Gary 4, 5 15/08/2015 57 11.33 11,795
Tricon Capital Group Inc. Phantom Units Berman, Gary 4, 5 15/08/2015 57 11.33 -23,370
Tricon Capital Group Inc. Phantom Units Berman, Gary 4, 5 17/08/2015 57 11.33 46,320 -23,370
Insider Reporting
August 27, 2015
(2015), 38 OSCB 7472
Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Price
Date/Month End Holdings
Acquired/ Disposed
Tricon Capital Group Inc. Common Shares Ellenzweig, Jonathan 5 15/08/2015 57 11.33 4,851
Tricon Capital Group Inc. Common Shares Ellenzweig, Jonathan 5 17/08/2015 57 11.33 37,517 4,851
Tricon Capital Group Inc. Phantom Units Ellenzweig, Jonathan 5 15/08/2015 57 11.33 -9,738
Tricon Capital Group Inc. Phantom Units Ellenzweig, Jonathan 5 17/08/2015 57 11.33 27,896 -9,738
Tricon Capital Group Inc. Common Shares MATUS, GEOFFREY 3, 4, 6, 5 15/08/2015 57 11.33 12,385
Tricon Capital Group Inc. Common Shares MATUS, GEOFFREY 3, 4, 6, 5 17/08/2015 57 11.33 183,313 12,385
Tricon Capital Group Inc. Phantom Units MATUS, GEOFFREY 3, 4, 6, 5 15/08/2015 57 11.33 -24,539
Tricon Capital Group Inc. Phantom Units MATUS, GEOFFREY 3, 4, 6, 5 17/08/2015 57 11.33 24,538 -24,539
Tricon Capital Group Inc. Common Shares Mode, Craig 5 15/08/2015 57 11.33 1,966
Tricon Capital Group Inc. Common Shares Mode, Craig 5 17/08/2015 57 11.33 48,780 1,966
Tricon Capital Group Inc. Phantom Units Mode, Craig 5 15/08/2015 57 11.33 -3,895
Tricon Capital Group Inc. Phantom Units Mode, Craig 5 17/08/2015 57 11.33 10,435 -3,895
Tricon Capital Group Inc. Deferred Share Units Quesnel, Douglas Paul 5 13/08/2015 00 402
Tricon Capital Group Inc. Options Quesnel, Douglas Paul 5 13/08/2015 00 25,000
Tricon Capital Group Inc. Common Shares Scheetz, Jeremy 5 15/08/2015 57 11.33 4,855
Tricon Capital Group Inc. Common Shares Scheetz, Jeremy 5 17/08/2015 57 11.33 62,632 4,855
Tricon Capital Group Inc. Phantom Units Scheetz, Jeremy 5 15/08/2015 57 11.33 -9,738
Tricon Capital Group Inc. Phantom Units Scheetz, Jeremy 5 17/08/2015 57 11.33 14,895 -9,738
Trilogy Energy Corp. Common Shares MacDonald, Robert M. 4 14/08/2015 10 3.82 10,000 3,000
Trimel Pharmaceuticals Corporation (formerly J5 Acquisition Corp.)
Common Shares Rossi, Tom 5 19/08/2015 10 0.395 130,500 5,500
Trimel Pharmaceuticals Corporation (formerly J5 Acquisition Corp.)
Common Shares Rossi, Tom 5 19/08/2015 10 0.394 136,500 6,000
Trimel Pharmaceuticals Corporation (formerly J5 Acquisition Corp.)
Common Shares Rossi, Tom 5 20/08/2015 10 0.383 138,000 1,500
TriMetals Mining Inc. Options with tandem share appreciation right
DARIO, VICTOR RENE 4 20/05/2015 00
TriMetals Mining Inc. Options with tandem share appreciation right
DARIO, VICTOR RENE 4 14/08/2015 50 300,000 300,000
TriMetals Mining Inc. Options with tandem share appreciation right
Dreisinger, David Bruce 5 14/08/2015 50 0.21 200,000 100,000
TriMetals Mining Inc. Options with tandem share appreciation right
MALBRAN, Felipe Bernardo 5 14/08/2015 50 250,000 125,000
TriMetals Mining Inc. Options with tandem share appreciation right
Mironchik, Roman 4 14/08/2015 50 250,000 125,000
TriMetals Mining Inc. Options with tandem share appreciation right
Sheehan, Paul 4 14/08/2015 50 550,000 125,000
Trinidad Drilling Ltd. Common Shares Halford, David William 4 19/08/2015 10 23,000 5,000
Trinidad Drilling Ltd. Common Shares McDougald, Elson John 4 20/08/2015 10 1,505,763 3,725
TriStar Gold Inc. Common Shares Jones, III, Mark E. 4 20/08/2015 10 0.17 7,906,884 5,000
TriStar Gold Inc. Common Shares Jones, III, Mark E. 4 20/08/2015 10 0.175 7,909,384 2,500
TriStar Gold Inc. Common Shares Jones, III, Mark E. 4 20/08/2015 10 0.185 7,910,884 1,500
TSO3 inc. Common Shares Lamarre, Jean 4 17/08/2015 10 1.83 32,700 2,700
TSO3 inc. Common Shares Lamarre, Jean 4 18/08/2015 10 1.87 40,600 7,900
Tucows Inc. Common Shares Ito, Joichi 4 19/08/2015 10 25.525 26,250 -6,250
Tucows Inc. Common Shares Noss, Elliot Lawrence 4, 5 20/08/2015 10 24.955 1,998,939 -50,000
Tuscany Energy Ltd. Common Shares Lamond, Robert William 4, 6, 5 17/08/2015 10 0.15 16,359,832 2,000
Tuscany Energy Ltd. Common Shares Lamond, Robert William 4, 6, 5 20/08/2015 10 0.12 16,362,332 2,500
Tuscany Energy Ltd. Common Shares Lamond, Robert William 4, 6, 5 21/08/2015 10 0.1 16,662,332 300,000
Tuscany Energy Ltd. Common Shares Lamond, Robert William 4, 6, 5 21/08/2015 10 0.11 16,712,332 50,000
Tuscany Energy Ltd. Common Shares Lamond, Robert William 4, 6, 5 21/08/2015 10 0.12 16,714,832 2,500
Tuscany Energy Ltd. Common Shares Lamond, Robert William 4, 6, 5 21/08/2015 10 0.09 835,074 283,000
Tuscany Energy Ltd. Common Shares Lamond, Robert William 4, 6, 5 21/08/2015 10 0.115 885,074 50,000
TWC Enterprises Limited Common Shares Winberg, Jack 4 15/06/2015 35 10.729 52,159 362
TWC Enterprises Limited Common Shares Winberg, Jack 4 15/06/2015 35 10.729 155,328 1,078
TWC Enterprises Limited Common Shares Winberg, Jack 4 15/06/2015 35 10.729 155,328 1,078
TWC Enterprises Limited Common Shares Winberg, Jack 4 15/06/2015 35 10.729 104,798 727
TWC Enterprises Limited Common Shares Winberg, Jack 4 15/06/2015 35 10.729 15,987 109
Insider Reporting
August 27, 2015
(2015), 38 OSCB 7473
Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Price
Date/Month End Holdings
Acquired/ Disposed
TWC Enterprises Limited Common Shares Winberg, Jack 4 15/06/2015 35 10.729 50,527 350
TWC Enterprises Limited Common Shares Winberg, Jack 4 15/06/2015 35 10.729 4,591 31
TWC Enterprises Limited Common Shares Winberg, Jack 4 15/06/2015 35 10.729 3,537 24
TWC Enterprises Limited Common Shares Winberg, Jack 4 10/08/2015 10 9.9175 3,137 -400
TWC Enterprises Limited Common Shares Winberg, Jack 4 10/08/2015 10 9.92 3,131 -6
TWC Enterprises Limited Common Shares Winberg, Jack 4 10/08/2015 10 9.91 3,031 -100
TWC Enterprises Limited Common Shares Winberg, Jack 4 15/06/2015 35 10.729 1,209 8
TWC Enterprises Limited Common Shares Winberg, Jack 4 15/06/2015 35 10.729 1,818 12
Twin Butte Energy Ltd. Common Shares Steckley, Warren D. 4 17/08/2015 35 0.355 372,238 3,457
Tyhee Gold Corp. Options Taschuk, Denis Michael 4 12/01/2015 52 0.16 1,400,000 -863,000
U.S. Dividend Growers Income Corp.
Common Shares Equity Shares
U.S. Dividend Growers Income Corp.
1 14/08/2015 38 9.0731 305,000 1,300
U.S. Dividend Growers Income Corp.
Common Shares Equity Shares
U.S. Dividend Growers Income Corp.
1 17/08/2015 38 9.0148 308,300 3,300
U.S. Dividend Growers Income Corp.
Common Shares Equity Shares
U.S. Dividend Growers Income Corp.
1 18/08/2015 38 9.0333 313,200 4,900
U.S. Dividend Growers Income Corp.
Common Shares Equity Shares
U.S. Dividend Growers Income Corp.
1 19/08/2015 38 8.9714 314,600 1,400
U.S. Dividend Growers Income Corp.
Common Shares Equity Shares
U.S. Dividend Growers Income Corp.
1 20/08/2015 38 9 317,200 2,600
U.S. Dividend Growers Income Corp.
Common Shares Equity Shares
U.S. Dividend Growers Income Corp.
1 20/08/2015 38 9 318,200 1,000
UEX Corporation Common Shares Boney, Edward 5 20/08/2015 10 0.18 140,100 12,300
UEX Corporation Common Shares Lemaitre, Roger 5 19/08/2015 10 0.18 87,000 22,000
Uni-Sélect Inc. Common Shares Buzzard, James E. 4 17/08/2015 10 59.39 599,900 -100
Uni-Sélect Inc. Common Shares Buzzard, James E. 4 17/08/2015 10 59.4 591,200 -8,700
Uni-Sélect Inc. Common Shares Buzzard, James E. 4 17/08/2015 10 59.405 591,100 -100
Uni-Sélect Inc. Common Shares Buzzard, James E. 4 17/08/2015 10 59.41 590,100 -1,000
Uni-Sélect Inc. Common Shares Buzzard, James E. 4 17/08/2015 10 59.42 589,800 -300
Uni-Sélect Inc. Common Shares Buzzard, James E. 4 17/08/2015 10 59.44 586,600 -3,200
Uni-Sélect Inc. Common Shares Buzzard, James E. 4 17/08/2015 10 59.465 586,500 -100
Uni-Sélect Inc. Common Shares Buzzard, James E. 4 17/08/2015 10 59.45 579,400 -7,100
Uni-Sélect Inc. Common Shares Buzzard, James E. 4 17/08/2015 10 59.5 563,400 -16,000
Uni-Sélect Inc. Common Shares Buzzard, James E. 4 17/08/2015 10 59.51 562,800 -600
Uni-Sélect Inc. Common Shares Buzzard, James E. 4 17/08/2015 10 59.52 562,400 -400
Uni-Sélect Inc. Common Shares Buzzard, James E. 4 17/08/2015 10 59.525 562,300 -100
Uni-Sélect Inc. Common Shares Buzzard, James E. 4 17/08/2015 10 59.535 562,200 -100
Uni-Sélect Inc. Common Shares Buzzard, James E. 4 17/08/2015 10 59.54 562,100 -100
Uni-Sélect Inc. Common Shares Buzzard, James E. 4 17/08/2015 10 59.55 561,300 -800
Uni-Sélect Inc. Common Shares Buzzard, James E. 4 17/08/2015 10 59.56 560,900 -400
Uni-Sélect Inc. Common Shares Buzzard, James E. 4 17/08/2015 10 59.565 560,800 -100
Uni-Sélect Inc. Common Shares Buzzard, James E. 4 17/08/2015 10 59.58 560,200 -600
Uni-Sélect Inc. Common Shares Buzzard, James E. 4 17/08/2015 10 59.6 560,000 -200
Uni-Sélect Inc. Common Shares Buzzard, Robert 5 17/08/2015 10 59.39 599,900 -100
Uni-Sélect Inc. Common Shares Buzzard, Robert 5 17/08/2015 10 59.4 591,200 -8,700
Uni-Sélect Inc. Common Shares Buzzard, Robert 5 17/08/2015 10 59.405 591,100 -100
Uni-Sélect Inc. Common Shares Buzzard, Robert 5 17/08/2015 10 59.41 590,100 -1,000
Uni-Sélect Inc. Common Shares Buzzard, Robert 5 17/08/2015 10 59.42 589,800 -300
Uni-Sélect Inc. Common Shares Buzzard, Robert 5 17/08/2015 10 59.44 586,600 -3,200
Uni-Sélect Inc. Common Shares Buzzard, Robert 5 17/08/2015 10 59.45 579,500 -7,100
Uni-Sélect Inc. Common Shares Buzzard, Robert 5 17/08/2015 10 59.465 579,400 -100
Uni-Sélect Inc. Common Shares Buzzard, Robert 5 17/08/2015 10 59.5 563,400 -16,000
Uni-Sélect Inc. Common Shares Buzzard, Robert 5 17/08/2015 10 59.51 562,800 -600
Uni-Sélect Inc. Common Shares Buzzard, Robert 5 17/08/2015 10 59.52 562,400 -400
Uni-Sélect Inc. Common Shares Buzzard, Robert 5 17/08/2015 10 59.525 562,300 -100
Uni-Sélect Inc. Common Shares Buzzard, Robert 5 17/08/2015 10 59.535 562,200 -100
Uni-Sélect Inc. Common Shares Buzzard, Robert 5 17/08/2015 10 59.55 561,400 -800
Uni-Sélect Inc. Common Shares Buzzard, Robert 5 17/08/2015 10 59.4 561,300 -100
Uni-Sélect Inc. Common Shares Buzzard, Robert 5 17/08/2015 10 59.56 560,900 -400
Uni-Sélect Inc. Common Shares Buzzard, Robert 5 17/08/2015 10 59.565 560,800 -100
Insider Reporting
August 27, 2015
(2015), 38 OSCB 7474
Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Price
Date/Month End Holdings
Acquired/ Disposed
Uni-Sélect Inc. Common Shares Buzzard, Robert 5 17/08/2015 10 59.58 560,200 -600
Uni-Sélect Inc. Common Shares Buzzard, Robert 5 17/08/2015 10 59.6 560,000 -200
Uni-Sélect Inc. Common Shares Uni-Sélect Inc. 1 20/08/2015 38 57.468 9,200 9,200
Uni-Sélect Inc. Common Shares Uni-Sélect Inc. 1 20/08/2015 38 57.468 0 -9,200
Uni-Sélect Inc. Common Shares Uni-Sélect Inc. 1 21/08/2015 38 57.135 11,745 11,745
Uni-Sélect Inc. Common Shares Uni-Sélect Inc. 1 21/08/2015 38 57.135 0 -11,745
United Corporations Limited Common Shares Dawson, David James 4 24/06/2015 00
United Corporations Limited Common Shares Dawson, David James 4 19/08/2015 10 88.08 480 480
United Corporations Limited Common Shares Wingfield, David Robertson 4 06/08/2015 10 89.995 1,300 400
Ur-Energy Inc. Options Boberg, Walter William 5 17/08/2015 50 29,690
Ur-Energy Inc. Options Boberg, Walter William 5 17/08/2015 50 29,690
Ur-Energy Inc. Options Boberg, Walter William 5 17/08/2015 50 0.89 29,690
Ur-Energy Inc. Options Boberg, Walter William 5 17/08/2015 50 0.86 444,677 29,690
Ur-Energy Inc. Restricted Share Units Boberg, Walter William 5 17/08/2015 56 7,422
Ur-Energy Inc. Restricted Share Units Boberg, Walter William 5 17/08/2015 56 7,422
Ur-Energy Inc. Restricted Share Units Boberg, Walter William 5 17/08/2015 56 23,776 7,422
Ur-Energy Inc. Options Bonner, James A. 5 17/08/2015 50 0.89 31,642
Ur-Energy Inc. Options Bonner, James A. 5 17/08/2015 50 0.86 167,574 31,642
Ur-Energy Inc. Restricted Share Units Bonner, James A. 5 17/08/2015 56 35,592 7,910
Ur-Energy Inc. Options Cash, John William 5 17/08/2015 50 0.89 46,782
Ur-Energy Inc. Options Cash, John William 5 17/08/2015 50 0.86 298,482 46,782
Ur-Energy Inc. Restricted Share Units Cash, John William 5 17/08/2015 56 55,481 11,696
Ur-Energy Inc. Options Franklin, James 4 17/08/2015 50 0.89 29,690
Ur-Energy Inc. Options Franklin, James 4 17/08/2015 50 0.86 354,785 29,690
Ur-Energy Inc. Restricted Share Units Franklin, James 4 17/08/2015 56 23,776 7,422
Ur-Energy Inc. Options Goplerud, Penne Ann 5 17/08/2015 50 0.89 56,012
Ur-Energy Inc. Options Goplerud, Penne Ann 5 17/08/2015 50 0.86 593,784 56,012
Ur-Energy Inc. Restricted Share Units Goplerud, Penne Ann 5 17/08/2015 56 72,717 14,004
Ur-Energy Inc. Options Hatten, Steven Marcal 5 17/08/2015 50 0.89 49,090
Ur-Energy Inc. Options Hatten, Steven Marcal 5 17/08/2015 50 0.86 474,579 49,090
Ur-Energy Inc. Restricted Share Units Hatten, Steven Marcal 5 17/08/2015 56 57,763 12,272
Ur-Energy Inc. Common Shares Huber, Gary Chase 4 28/05/2015 00
Ur-Energy Inc. Common Shares Huber, Gary Chase 4 14/08/2015 10 0.647 75,000
Ur-Energy Inc. Common Shares Huber, Gary Chase 4 14/08/2015 10 0.66 25,000 25,000
Ur-Energy Inc. Common Shares Huber, Gary Chase 4 17/08/2015 10 0.64 55,000 30,000
Ur-Energy Inc. Common Shares Huber, Gary Chase 4 18/08/2015 10 0.64 75,000 20,000
Ur-Energy Inc. Options Huber, Gary Chase 4 17/08/2015 50 0.89 29,690
Ur-Energy Inc. Options Huber, Gary Chase 4 17/08/2015 50 0.86 229,690 29,690
Ur-Energy Inc. Restricted Share Units Huber, Gary Chase 4 28/05/2015 00
Ur-Energy Inc. Restricted Share Units Huber, Gary Chase 4 17/08/2015 56 7,422 7,422
Ur-Energy Inc. Options Klenda, Jeffrey T. 5 17/08/2015 50 0.89 70,762
Ur-Energy Inc. Options Klenda, Jeffrey T. 5 17/08/2015 50 0.86 952,032 70,762
Ur-Energy Inc. Restricted Share Units Klenda, Jeffrey T. 5 17/08/2015 56 89,782 17,690
Ur-Energy Inc. Options Macdonell, Paul 4 17/08/2015 50 0.89 29,690
Ur-Energy Inc. Options Macdonell, Paul 4 17/08/2015 50 0.86 354,785 29,690
Ur-Energy Inc. Restricted Share Units Macdonell, Paul 4 17/08/2015 56 23,776 7,422
Ur-Energy Inc. Options Parker, Thomas Howard 4 17/08/2015 50 0.89 29,690
Ur-Energy Inc. Options Parker, Thomas Howard 4 17/08/2015 50 0.86 354,785 29,690
Ur-Energy Inc. Restricted Share Units Parker, Thomas Howard 4 17/08/2015 56 23,776 7,422
Ur-Energy Inc. Options Smith, Roger L. 5 17/08/2015 50 0.89 62,302
Ur-Energy Inc. Options Smith, Roger L. 5 17/08/2015 50 0.86 807,345 62,302
Ur-Energy Inc. Restricted Share Units Smith, Roger L. 5 17/08/2015 56 80,880 15,576
Urbanfund Corp. Common Shares Cohen, Mitchell Steven 4, 5 17/08/2015 35 1,494,385 4,385
Urbanfund Corp. Common Shares Cohen, Mitchell Steven 4, 5 17/08/2015 35 195,604 854
Urbanfund Corp. Common Shares Kimel, Ronald Seymour 4 17/08/2015 35 259,080 1,185
Urbanfund Corp. Common Shares Kimel, Ronald Seymour 4 17/08/2015 35 20,855,159 123,493
Urbanfund Corp. Common Shares Westdale Construction Co. Limited
3 17/08/2015 35 20,855,159 123,493
Insider Reporting
August 27, 2015
(2015), 38 OSCB 7475
Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Price
Date/Month End Holdings
Acquired/ Disposed
US Buyback Leaders Fund Units US Buyback Leaders Fund 1 20/08/2015 38 9,100 9,100
US Buyback Leaders Fund Units US Buyback Leaders Fund 1 20/08/2015 38 0 -9,100
Vecima Networks Inc. Options Incentive Stock Options
Elliott, Thomas Kent 4 17/08/2015 00
Velan Inc. Subordinate Voting Shares
Velan Inc. 1 04/08/2015 38 0 -72,000
Velocity Minerals Ltd. Common Shares LEE, DONALD BARRY 4 17/08/2015 10 0.01 0 -19,500
Veresen Inc. Common Shares Althoff, Donald 5 14/08/2015 10 14.044 29,614 12,500
Veresen Inc. Common Shares Howe, Maureen 4 14/08/2015 10 13.94 5,300 300
Veresen Inc. Common Shares Howe, Maureen 4 14/08/2015 10 13.95 8,500 3,200
Veresen Inc. Common Shares Marble, Jesse David 5 14/08/2015 10 14.088 15,000 5,000
Vermilion Energy Inc. Common Shares Williams, Catherine L. 4 27/02/2015 00
Vermilion Energy Inc. Common Shares Williams, Catherine L. 4 18/08/2015 10 43.68 100 100
Vermilion Energy Inc. Common Shares Williams, Catherine L. 4 18/08/2015 10 43.7 300 200
Vermilion Energy Inc. Common Shares Williams, Catherine L. 4 18/08/2015 10 43.71 400 100
Vermilion Energy Inc. Common Shares Williams, Catherine L. 4 18/08/2015 10 43.65 1,000 600
Victoria Gold Corp. (formerly Victoria Resource Corporation)
Common Shares Sun Valley Gold LLC 3 19/08/2015 10 0.125 6,975,000 259,000
Vigil Health Solutions Inc. Options Brennan, Jacqueline Leanne
5 18/08/2015 50 160,000 40,000
Vigil Health Solutions Inc. Options Chalmers, Nicola 5 18/08/2015 50 200,000 40,000
Vigil Health Solutions Inc. Options Griffiths, Troy Ivor 5 18/08/2015 50 600,000 120,000
Vigil Health Solutions Inc. Options Jaako, Harry 4, 6 18/08/2015 50 115,000 25,000
Vigil Health Solutions Inc. Options Martin, Stephen Richard 4 18/08/2015 50 115,000 25,000
Vigil Health Solutions Inc. Options PEET, GREGORY 4 18/08/2015 50 180,000 40,000
Vigil Health Solutions Inc. Options Smith, Steven Scott 5 18/08/2015 50 200,000 40,000
Viper Gold Ltd. Options Davis, Paul Charles 4 17/08/2015 52 15,000 -10,000
Viper Gold Ltd. Options Del Campo, Joseph 4 17/08/2015 52 2 15,000 -10,000
Vista Gold Corp. RSU Rozelle, John W. 5 28/07/2015 11 150,000
Vista Gold Corp. RSU Rozelle, John W. 5 28/07/2015 56 524,864 150,000
Vista Gold Corp. Common Shares Sun Valley Gold LLC 3 17/08/2015 10 0.288 13,789,452 23,010
Vista Gold Corp. Common Shares Sun Valley Gold Master Fund, Ltd.
3 17/08/2015 10 0.288 9,755,725 23,010
West Fraser Timber Co. Ltd. Common Shares West Fraser Timber Co. Ltd. 1 17/08/2015 38 54.825 392,000 20,000
West Fraser Timber Co. Ltd. Common Shares West Fraser Timber Co. Ltd. 1 18/08/2015 38 54.221 412,000 20,000
West Fraser Timber Co. Ltd. Common Shares West Fraser Timber Co. Ltd. 1 19/08/2015 38 54.404 432,000 20,000
West Melville Metals Inc. Common Shares Robins, John Edward 3, 4, 5 25/05/2015 37 362,000 -3,258,000
West Melville Metals Inc. Common Shares Robins, John Edward 3, 4, 5 25/05/2015 37 65,000 -585,000
West Melville Metals Inc. Common Shares Robins, John Edward 3, 4, 5 25/05/2015 37 50,000 -450,000
West Melville Metals Inc. Options Robins, John Edward 3, 4, 5 25/05/2015 37 82,500 -742,500
West Melville Metals Inc. Warrants Robins, John Edward 3, 4, 5 19/08/2015 55 0 -500,000
Western Copper and Gold Corporation
Options Corman, Francis Dale 4, 5 10/08/2015 50 0.5 770,000 100,000
Western Copper and Gold Corporation
Options Dean, Corey Michael 5 10/08/2015 50 275,000 25,000
Western Copper and Gold Corporation
Options Francois, Julien 5 10/08/2015 50 0.5 575,000 75,000
Western Copper and Gold Corporation
Options Gayton, Robert 4 10/08/2015 50 0.5 400,000 50,000
Western Energy Services Corp.
Common Shares Bowers, Jeffrey Keith 5 15/08/2015 57 722,016 4,016
Western Energy Services Corp.
Restricted Share Unit Bowers, Jeffrey Keith 5 15/08/2015 57 29,775 -4,016
Western Energy Services Corp.
Common Shares Copeland, Donald Darrell 4 15/08/2015 57 36,958 2,095
Western Energy Services Corp.
Restricted Share Unit Copeland, Donald Darrell 4 15/08/2015 57 15,937 -2,095
Western Energy Services Corp.
Common Shares Gartner, Lorne 4 15/08/2015 57 68,073 2,095
Western Energy Services Corp.
Restricted Share Unit Gartner, Lorne 4 15/08/2015 57 15,937 -2,095
Insider Reporting
August 27, 2015
(2015), 38 OSCB 7476
Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Price
Date/Month End Holdings
Acquired/ Disposed
Western Energy Services Corp.
Common Shares Harrison, Richard Merle 5 15/08/2015 57 29,271 2,271
Western Energy Services Corp.
Restricted Share Unit Harrison, Richard Merle 5 15/08/2015 57 19,284 -2,271
Western Energy Services Corp.
Common Shares MacAusland, Alexander Roland Neil
4, 5 15/08/2015 57 864,133 4,539
Western Energy Services Corp.
Restricted Share Unit MacAusland, Alexander Roland Neil
4, 5 15/08/2015 57 39,323 -4,539
Western Energy Services Corp.
Common Shares MacNabb, Steven Andrew 5 15/08/2015 57 1,852 1,852
Western Energy Services Corp.
Restricted Share Unit MacNabb, Steven Andrew 5 15/08/2015 57 13,946 -1,852
Western Energy Services Corp.
Common Shares Mathison, Ronald 4 15/08/2015 57 6,407,710 2,795
Western Energy Services Corp.
Options Mathison, Ronald 4 14/08/2015 50 56,250 16,250
Western Energy Services Corp.
Restricted Share Unit Mathison, Ronald 4 14/08/2015 56 23,876 15,500
Western Energy Services Corp.
Restricted Share Unit Mathison, Ronald 4 15/08/2015 57 21,081 -2,795
Western Energy Services Corp.
Common Shares Reinboldt, Darcy Donald 5 15/08/2015 57 2,271 2,271
Western Energy Services Corp.
Restricted Share Unit Reinboldt, Darcy Donald 5 15/08/2015 57 19,284 -2,271
Western Energy Services Corp.
Common Shares Rooney, John Ross 4 15/08/2015 57 502,095 2,095
Western Energy Services Corp.
Options Rooney, John Ross 4 14/08/2015 50 5.03 56,250 16,250
Western Energy Services Corp.
Restricted Share Unit Rooney, John Ross 4 14/08/2015 56 18,032 11,750
Western Energy Services Corp.
Restricted Share Unit Rooney, John Ross 4 15/08/2015 57 15,937 -2,095
Western Energy Services Corp.
Common Shares Sebastian, Timothy John 5 15/08/2015 57 62,454 1,852
Western Energy Services Corp.
Restricted Share Unit Sebastian, Timothy John 5 15/08/2015 57 13,946 -1,852
Western Energy Services Corp.
Common Shares Trann, David George 5 15/08/2015 57 18,056 1,852
Western Energy Services Corp.
Restricted Share Unit Trann, David George 5 15/08/2015 57 13,946 -1,852
Western Energy Services Corp.
Common Shares Vathje, Jeffery Allen 5 15/08/2015 57 1,852 1,852
Western Energy Services Corp.
Restricted Share Unit Vathje, Jeffery Allen 5 15/08/2015 57 13,946 -1,852
Western Energy Services Corp.
Common Shares Western Energy Services Corp.
1 14/08/2015 38 5.0573 167,000 18,000
Western Energy Services Corp.
Common Shares Western Energy Services Corp.
1 17/08/2015 38 4.9963 192,500 25,500
Western Energy Services Corp.
Common Shares Western Energy Services Corp.
1 18/08/2015 38 4.9906 198,900 6,400
Western Energy Services Corp.
Common Shares Western Energy Services Corp.
1 19/08/2015 38 4.905 254,400 55,500
Western Energy Services Corp.
Common Shares Western Energy Services Corp.
1 20/08/2015 38 4.8573 289,000 34,600
Western Energy Services Corp.
Common Shares Western Energy Services Corp.
1 21/08/2015 38 4.7237 317,200 28,200
Westshore Terminals Investment Corporation
Common Shares Pattison, James A. 3 17/08/2015 10 27.481 3,183,877 25,777
Westshore Terminals Investment Corporation
Common Shares Pattison, James A. 3 18/08/2015 10 27.284 1,114,200 65,200
Westshore Terminals Investment Corporation
Common Shares Pattison, James A. 3 19/08/2015 10 26.858 1,131,700 17,500
Westshore Terminals Investment Corporation
Common Shares Pattison, James A. 3 20/08/2015 10 26.352 1,231,700 100,000
Whitecap Resources Inc. Common Shares Dunlop, Darin Roy 5 20/08/2015 10 10.738 143,703 2,420
Whitecap Resources Inc. Common Shares Dunlop, Darin Roy 5 20/08/2015 10 10.745 2,000 1,000
Whitecap Resources Inc. Common Shares Dunlop, Darin Roy 5 20/08/2015 10 10.75 2,600 1,000
Insider Reporting
August 27, 2015
(2015), 38 OSCB 7477
Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Price
Date/Month End Holdings
Acquired/ Disposed
Whitecap Resources Inc. Common Shares Dunlop, Darin Roy 5 20/08/2015 10 10.737 166,353 4,735
Whitecap Resources Inc. Common Shares Fagerheim, Grant Bradley 4, 5 19/08/2015 10 11.374 1,902,240 8,000
WPC Resources Inc. Common Shares Wilkinson, Stephen James 4, 5 14/08/2015 10 0.045 153,500 8,500
Xenon Pharmaceuticals Inc. Common Shares Goldberg, Yigal Paul 5 18/08/2015 51 6.07 6,103 1,783
Xenon Pharmaceuticals Inc. Options Goldberg, Yigal Paul 5 18/08/2015 51 116,473 -3,085
Xenon Pharmaceuticals Inc. Common Shares Holler, Frank 4 18/08/2015 51 6.07 174,807 1,189
Xenon Pharmaceuticals Inc. Options Holler, Frank 4 18/08/2015 51 119,747 -2,057
Xenon Pharmaceuticals Inc. Common Shares Pimstone, Simon Neil 4 18/08/2015 51 6.07 204,205 11,898
Xenon Pharmaceuticals Inc. Options Pimstone, Simon Neil 4 18/08/2015 51 336,765 -20,576
Xenon Pharmaceuticals Inc. Common Shares Sherrington, Robin Paul 5 18/08/2015 51 6.07 3,840 1,783
Xenon Pharmaceuticals Inc. Options Sherrington, Robin Paul 5 18/08/2015 51 114,210 -3,085
Yamana Gold Inc. Common Shares Begeman, John A. 4 02/05/2007 00
Yamana Gold Inc. Common Shares Begeman, John A. 4 22/06/2015 22 261 261
Yamana Gold Inc. Common Shares Davidson, Alexander John 4 20/08/2015 10 3.14 18,200 -3,800
Yangaroo Inc. Common Shares Boone, Horace Shepard 3 17/08/2015 10 0.19 6,971,768 73,000
Yieldplus Income Fund Trust Units YIELDPLUS Income Fund 1 17/08/2015 38 6.09 86,104,533 2,100
Yieldplus Income Fund Trust Units YIELDPLUS Income Fund 1 19/08/2015 38 5.986 86,106,033 1,500
Zargon Oil & Gas Ltd. Common Shares Burden, Leslie Edward 5 14/08/2015 30 2.1903 20,550 324
Zargon Oil & Gas Ltd. Common Shares Burden, Leslie Edward 5 17/08/2015 30 2.234 20,609 59
Zargon Oil & Gas Ltd. Common Shares Burden, Leslie Edward 5 14/08/2015 30 2.1903 20,604 487
Zargon Oil & Gas Ltd. Common Shares Burden, Leslie Edward 5 17/08/2015 30 2.234 20,691 87
Zargon Oil & Gas Ltd. Common Shares Doetzel, Randolph John 5 14/08/2015 30 2.1903 12,555 921
Zargon Oil & Gas Ltd. Common Shares Doetzel, Randolph John 5 17/08/2015 10 2.07 9,555 -3,000
Zargon Oil & Gas Ltd. Common Shares Doetzel, Randolph John 5 17/08/2015 30 2.234 9,560 5
Zargon Oil & Gas Ltd. Common Shares Doetzel, Randolph John 5 17/08/2015 10 2.07 -3,000
Zargon Oil & Gas Ltd. Common Shares Hansen, Craig Henry 4, 5 14/08/2015 30 2.1903 1,149,013 606
Zargon Oil & Gas Ltd. Common Shares Hansen, Craig Henry 4, 5 17/08/2015 30 2.234 1,149,163 150
Zargon Oil & Gas Ltd. Common Shares Hansen, Craig Henry 4, 5 14/08/2015 30 2.1903 591,119 326
Zargon Oil & Gas Ltd. Common Shares Hansen, Craig Henry 4, 5 17/08/2015 30 2.234 591,200 81
Zargon Oil & Gas Ltd. Common Shares Hustad, Christopher Michael 5 14/08/2015 30 2.1903 32,237 843
Zargon Oil & Gas Ltd. Common Shares Hustad, Christopher Michael 5 17/08/2015 30 2.234 32,367 130
Zargon Oil & Gas Ltd. Common Shares Janjua, Pete Hardeep Singh 5 14/08/2015 30 2.1903 25,779 867
Zargon Oil & Gas Ltd. Common Shares Janjua, Pete Hardeep Singh 5 17/08/2015 30 2.234 25,887 108
Zargon Oil & Gas Ltd. Common Shares Kergan, Brian 5 14/08/2015 30 2.1903 67,683 525
Zargon Oil & Gas Ltd. Common Shares Kergan, Brian 5 17/08/2015 30 2.234 67,792 109
Zargon Oil & Gas Ltd. Common Shares Kergan, Brian 5 14/08/2015 30 2.1903 37,047 350
Zargon Oil & Gas Ltd. Common Shares Kergan, Brian 5 17/08/2015 30 2.234 37,119 72
Zargon Oil & Gas Ltd. Common Shares Moriyama, Robert Todd 5 14/08/2015 30 2.1903 21,766 450
Zargon Oil & Gas Ltd. Common Shares Moriyama, Robert Todd 5 17/08/2015 30 2.234 21,859 93
Zargon Oil & Gas Ltd. Common Shares Moriyama, Robert Todd 5 14/08/2015 30 2.1903 15,894 450
Zargon Oil & Gas Ltd. Common Shares Moriyama, Robert Todd 5 17/08/2015 30 2.234 15,950 56
Zargon Oil & Gas Ltd. Common Shares Post, Jeffrey Nicholas 5 14/08/2015 30 2.1903 1,310 274
Zargon Oil & Gas Ltd. Common Shares Post, Jeffrey Nicholas 5 17/08/2015 30 2.234 1,313 3
Zargon Oil & Gas Ltd. Common Shares Post, Jeffrey Nicholas 5 14/08/2015 30 2.1903 20,253 411
Zargon Oil & Gas Ltd. Common Shares Post, Jeffrey Nicholas 5 17/08/2015 30 2.234 20,340 87
Zazu Metals Corporation Common Shares Atzmon, Gil 5 18/08/2015 10 0.113 6,492,500 10,000
Zazu Metals Corporation Options Atzmon, Gil 5 17/08/2015 50 1,300,000 300,000
Zazu Metals Corporation Common Shares Ford, Matthew Thomas 5 19/08/2015 10 0.1241 238,200 1,000
Zazu Metals Corporation Common Shares Ford, Matthew Thomas 5 21/08/2015 10 0.1281 240,200 2,000
Zazu Metals Corporation Options Ford, Matthew Thomas 5 13/08/2015 50 775,000 150,000
Zazu Metals Corporation Options Langner, Ralf 5 17/08/2015 50 715,000 150,000
ZCL Composites Inc. Common Shares ZCL Composites Inc 1 12/08/2015 38 5.9993 9,700 9,700
ZCL Composites Inc. Common Shares ZCL Composites Inc 1 13/08/2015 38 5.9964 16,300 6,600
ZCL Composites Inc. Common Shares ZCL Composites Inc 1 14/08/2015 38 0 -16,300
Zenith Epigenetics Corp. Units Restricted Share Units
Cann, Aaron Bradley 5 20/08/2015 56 81,550 21,000
Insider Reporting
August 27, 2015
(2015), 38 OSCB 7478
This page intentionally left blank
August 27, 2015
(2015), 38 OSCB 7479
Chapter 8
Notice of Exempt Financings
REPORT OF TRADES ON FORM 45-106F1 AND 45-501F1 There are no Reports of Exempt Distribution on Forms 45-106F1 or 45-501F1 (Reports) in this Bulletin. Reports filed on or after February 19, 2014 must be filed electronically. As a result of the transition to mandated electronic filings, the OSC is considering the most effective manner to make data about filed Reports available to the public, including whether and how this information should be reflected in the Bulletin. In the meantime, Reports filed with the Commission continue to be available for public inspection during normal business hours.
Notice of Exempt Financings
August 27, 2015
(2015), 38 OSCB 7480
This page intentionally left blank
August 27, 2015
(2015), 38 OSCB 7481
Chapter 11
IPOs, New Issues and Secondary Financings Issuer Name: Agnico Eagle Mines Limited Principal Regulator - Ontario Type and Date: Preliminary Base Shelf Prospectus dated August 19, 2015 NP 11-202 Receipt dated August 20, 2015 Offering Price and Description: US$500,000,000.00: Debt Securities Common Shares Warrants Underwriter(s) or Distributor(s): - Promoter(s): - Project #2385314 _______________________________________________ Issuer Name: Canadian Pacific Railway Company Principal Regulator - Alberta Type and Date: Preliminary Base Shelf Prospectus dated August 19, 2015 NP 11-202 Receipt dated August 20, 2015 Offering Price and Description: $1,500,000,000.00 - Medium Term Notes (Unsecured) Underwriter(s) or Distributor(s): - Promoter(s): CIBC WORLD MARKETS INC. ALTACORP CAPITAL INC. BMO NESBITT BURNS INC. CITIGROUP GLOBAL MARKETS CANADA INC. HSBC SECURITIES (CANADA) INC. J.P. MORGAN SECURITIES CANADA INC. MERRILL LYNCH CANADA INC. MORGAN STANLEY CANADA LIMITED NATIONAL BANK FINANCIAL INC. RBC DOMINION SECURITIES INC. SCOTIA CAPITAL INC. TD SECURITIES INC. WELLS FARGO SECURITIES CANADA, LTD. Project #2385394 _______________________________________________
Issuer Name: National Bank Consensus American Equity Fund National Bank Consensus International Equity Fund National Bank Floating Rate Income Fund National Bank Global Tactical Bond Fund National Bank High Dividend Fund National Bank Preferred Equity Fund National Bank Preferred Equity Income Fund National Bank Strategic U.S. Income and Growth Fund National Bank U.S. $ Global Tactical Bond Fund National Bank U.S. Dividend Fund NBI Canadian Bond Private Portfolio NBI Canadian Equity Private Portfolio NBI Canadian High Conviction Equity Private Portfolio NBI Canadian Preferred Equity Private Portfolio NBI Canadian Short Term Income Private Portfolio NBI Canadian Small Cap Equity Private Portfolio NBI Corporate Bond Private Portfolio NBI Emerging Markets Equity Private Portfolio NBI High Yield Bond Private Portfolio NBI International Equity Private Portfolio NBI International High Conviction Equity Private Portfolio NBI Non-Traditional Capital Appreciation Private Portfolio NBI Non-Traditional Fixed Income Private Portfolio NBI Real Assets Private Portfolio NBI SmartBeta Canadian Equity Fund NBI SmartBeta Global Equity Fund NBI U.S. Bond Private Portfolio NBI U.S. Equity Private Portfolio NBI U.S. High Conviction Equity Private Portfolio Westwood Global Dividend Fund Westwood Global Equity Fund Principal Regulator - Quebec Type and Date: Preliminary Simplified Prospectuses dated August 6, 2015 NP 11-202 Receipt dated August 19, 2015 Offering Price and Description: Advisor, F, Institutional, Investor, M, O, R, F5, T5, T, E, FT, N and NR Series Underwriter(s) or Distributor(s): National Bank Investments Inc. Promoter(s): National Bank Investments Inc. Project #2384446 _______________________________________________
IPOs, New Issues and Secondary Financings
August 27, 2015
(2015), 38 OSCB 7482
Issuer Name: Rare Element Resources Ltd. Principal Regulator - British Columbia Type and Date: Preliminary Base Shelf Prospectus dated August 24, 2015 NP 11-202 Receipt dated August 24, 2015 Offering Price and Description: U.S.$50,000,000.00 Debt Securities Common Shares Warrants Units Underwriter(s) or Distributor(s): - Promoter(s): - Project #2386827 _______________________________________________ Issuer Name: SANDSTORM GOLD LTD. Principal Regulator - British Columbia Type and Date: Preliminary Base Shelf Prospectus dated August 19, 2015 NP 11-202 Receipt dated August 19, 2015 Offering Price and Description: U.S.$150,000,000.00 Common Shares Warrants Subscription Receipts Units Underwriter(s) or Distributor(s): - Promoter(s): - Project #2385313 _______________________________________________
Issuer Name: Sprott 2015-II Flow-Through Limited Partnership Principal Regulator - Ontario Type and Date: Preliminary Long Form Prospectus dated August 21, 2015 NP 11-202 Receipt dated August 21, 2015 Offering Price and Description: Maximum Offering: $20,000,000 - 800,000 Limited Partnership Units Minimun Offering:$5,000,000 - 200,000 Units Price Per Unit: $25.00 Minimum Subscription: $5,000 (200 Units) Underwriter(s) or Distributor(s): RBC Dominion Securities Inc. CIBC World Markets Inc. Scotia Capital Inc. TD Securities Inc. BMO Nesbitt Burns Inc. National Bank Financial Inc. GMP Securities L.P. Raymond James Ltd. Sprott Private Wealth LP Canaccord Genuity Corp. Desjardins Securities Inc. Manulife Securities Incorporated Promoter(s): Sprott 2015-II Corporation Project #2386266 _______________________________________________ Issuer Name: Emerging Markets Equity Fund (Class D, Class E, Class F, Class I, Class O, Class P, Class R and Class Z Units) Principal Regulator - Ontario Type and Date: Amendment #1 dated August 7, 2015 to the Simplified Prospectus and Annual Information Form dated June 25, 2015 NP 11-202 Receipt dated August 18, 2015 Offering Price and Description: Class D, Class E, Class F, Class I, Class O, Class P, Class R and Class Z Units @ Net Asset Value Underwriter(s) or Distributor(s): - Promoter(s): SEI Investments Canada Company Project #2354465 _______________________________________________
IPOs, New Issues and Secondary Financings
August 27, 2015
(2015), 38 OSCB 7483
Issuer Name: BMO Retirement Income Portfolio (Series A, F, T6 and Advisor Series) BMO Retirement Conservative Portfolio (Series A, F, T6 and Advisor Series) BMO Retirement Balanced Portfolio (Series A, F, T6 and Advisor Series) BMO Risk Reduction Fixed Income Fund (Series I) BMO Risk Reduction Equity Fund (Series I) Principal Regulator - Ontario Type and Date: Final Simplified Prospectuses dated August 18, 2015 NP 11-202 Receipt dated August 20, 2015 Offering Price and Description: series A, F, I, T6 and Advisor Series @ Net Asset Value Underwriter(s) or Distributor(s): BMO Investments Inc. Promoter(s): BMO Investments Inc. Project #2370690 _______________________________________________ Issuer Name: Capital Group Global Balanced Fund (Canada) Principal Regulator - Ontario Type and Date: Final Simplified Prospectus dated August 14, 2015 NP 11-202 Receipt dated August 18, 2015 Offering Price and Description: Series A, B, E, F, H, I, T4 and F4 Units @ Net Asset Value Underwriter(s) or Distributor(s): - Promoter(s): CAPITAL INTERNATIONAL ASSET MANAGEMENT (CANADA), INC. Project #2372137 _______________________________________________ Issuer Name: iShares Conservative Short Term Strategic Fixed Income ETF iShares Conservative Strategic Fixed Income ETF Principal Regulator - Ontario Type and Date: Final Long Form Prospectus dated August 20, 2015 NP 11-202 Receipt dated August 21, 2015 Offering Price and Description: Units @ Net Asset Value Underwriter(s) or Distributor(s): - Promoter(s): - Project #2364388 _______________________________________________
Issuer Name: Redwood Equity Growth Class (formerly Ark StoneCastle Stable Growth Class) Redwood Global Macro Class Redwood Income Growth Class (formerly Ark StoneCastle Stable Income Class) Principal Regulator - Ontario Type and Date: Final Simplified Prospectuses dated August 18, 2015 NP 11-202 Receipt dated August 21, 2015 Offering Price and Description: Series A, F and I shares Underwriter(s) or Distributor(s): - Promoter(s): REDWOOD ASSET MANAGEMENT INC. Project #2368041 _______________________________________________ Issuer Name: RG One Corp. Principal Regulator - Ontario Type and Date: Final CPC Prospectus dated August 20, 2015 NP 11-202 Receipt dated August 24, 2015 Offering Price and Description: A minimum of 3,600,000 Common Shares ($360,000) and a maximum of 10,000,000 Common Shares ($1,000,000) PRICE: $0.10 PER COMMON SHARE Underwriter(s) or Distributor(s): M Partners Inc. Promoter(s): - Project #2381281 _______________________________________________ Issuer Name: Titan Medical Inc. Principal Regulator - Ontario Type and Date: Final Base Shelf Prospectus dated August 18, 2015 NP 11-202 Receipt dated August 19, 2015 Offering Price and Description: U.S. $45,000,000.00: Common Shares Warrants Units Preferred Shares Debt Securities Underwriter(s) or Distributor(s): - Promoter(s): - Project #2375017 _______________________________________________
IPOs, New Issues and Secondary Financings
August 27, 2015
(2015), 38 OSCB 7484
This page intentionally left blank
August 27, 2015
(2015), 38 OSCB 7485
Chapter 12
Registrations 12.1.1 Registrants
Type Company Category of Registration Effective Date
New Registration Red Cloud Capital Inc. Restricted Dealer August 19, 2015
New Registration Antya Investments Inc. Portfolio Manager August 19, 2015
New Registration Brookfield Financial Securities LP
Investment Dealer August 24, 2015
Name Change
From: NexGen Financial Limited Partnership To: NGAM Canada LP
Investment Fund Manager, Mutual Fund Dealer and Portfolio Manager
August 18, 2015
Registrations
August 27, 2015
(2015), 38 OSCB 7486
This page intentionally left blank
August 27, 2015
(2015), 38 OSCB 7487
Chapter 13
SROs, Marketplaces, Clearing Agencies and Trade Repositories
13.1 SROs 13.1.1 IIROC – Margin Requirements for Certain Cash and Security Borrowing and Lending Arrangements – Proposed
Amendments to Schedules 1, 7 and 7A of Dealer Member Form 1
INVESTMENT INDUSTRY REGULATORY ORGANIZATION OF CANADA (IIROC)
MARGIN REQUIREMENTS FOR CERTAIN CASH AND SECURITY BORROWING AND LENDING ARRANGEMENTS – PROPOSED AMENDMENTS TO SCHEDULES 1, 7 AND 7A OF DEALER MEMBER FORM 1
NOTICE OF COMMISSION APPROVAL
The Ontario Securities Commission approved IIROC’s proposed amendments to Schedule 1, 7 and 7A of Dealer Member Form 1. The primary objective of the amendments is to more closely align the capital requirements for certain cash and security borrowing and lending arrangements to an IIROC Dealer Member’s risk of loss associated with such arrangements by reducing applicable margin requirements. The amendments were republished for public comment on February 26, 2015. An original proposal was published for public comment on March 13, 2014. In response to public and Canadian Securities Administrators (“CSA”) comments received, IIROC made material and non-material revisions to the original proposal. Two comment letters that were both supportive of the republished proposed amendments were received. The amendments will be effective on October 1, 2015. A copy of the IIROC Notice including the proposed amendments with changes to the original proposal can be found at http://www.osc.gov.on.ca. In addition, the Alberta Securities Commission, the Autorité des marchés financiers, the British Columbia Securities Commission, the Financial and Consumer Affairs Authority of Saskatchewan, the Financial and Consumer Services Commission of New Brunswick, the Manitoba Securities Commission, the Nova Scotia Securities Commission, the Office of the Superintendent of Securities, Service Newfoundland and Labrador, and the Prince Edward Island Office of the Superintendent of Securities Office have approved or not objected to the amendments.
SROs, Marketplaces, Clearing Agencies and Trade Repositories
August 27, 2015
(2015), 38 OSCB 7488
13.3 Clearing Agencies 13.3.1 CDS – Material Amendments to CDS Procedures – CAD and USD Receivers of Credit Category Credit Rings –
OSC Staff Notice of Request for Comment
OSC STAFF NOTICE OF REQUEST FOR COMMENT
CDS CLEARING AND DEPOSITORY SERVICES INC. (CDS)
MATERIAL AMENDMENTS TO CDS PROCEDURES – CAD AND USD RECEIVERS OF CREDIT CATEGORY CREDIT RINGS
The Ontario Securities Commission is publishing for public comment the proposed CDS procedure amendments that would make changes to the Canadian dollar (“CAD”) and U.S. dollar (“USD”) Receivers of Credit Pool (“RCP”) Category Credit Rings (“CCRs”). Specifically, the amendments require Participants in the CAD and USD RCP CCRs, who have current or potential exposures, to fully and simultaneously collateralize the losses that would result from their default with a high degree of confidence. The comment period ends on September 26, 2015. A copy of the CDS notice is published on our website at http://www.osc.gov.on.ca.
SROs, Marketplaces, Clearing Agencies and Trade Repositories
August 27, 2015
(2015), 38 OSCB 7489
13.3.2 CDS – Material Amendments to CDS Rules – CAD and USD Receivers of Credit Category Credit Rings – OSC Staff Notice of Request for Comment
OSC STAFF NOTICE OF REQUEST FOR COMMENT
CDS CLEARING AND DEPOSITORY SERVICES INC. (CDS)
MATERIAL AMENDMENTS TO CDS RULES –
CAD AND USD RECEIVERS OF CREDIT CATEGORY CREDIT RINGS
The Ontario Securities Commission is publishing for public comment the proposed CDS rule amendments that would make changes to the Canadian dollar and United States dollar Receivers of Credit (“CAD RCP” and “USD RCP”, respectively) category credit rings (“CCR”). Specifically, the amendments require Participants in the CAD RCP and USD RCP CCRs, who have current or potential exposures, to fully cover their own losses with a high degree of confidence. The comment period ends on September 26, 2015. A copy of the CDS notice is published on our website at http://www.osc.gov.on.ca.
SROs, Marketplaces, Clearing Agencies and Trade Repositories
August 27, 2015
(2015), 38 OSCB 7490
13.3.3 CDCC – Amendments to the Rule B-3 of CDCC to Introduce Acceleration of Expiry – Notice of Commission Approval
THE CANADIAN DERIVATIVES CLEARING CORPORATION (CDCC)
AMENDMENTS TO THE RULE B-3 OF CDCC TO INTRODUCE ACCELERATION OF EXPIRY
NOTICE OF COMMISSION APPROVAL
In accordance with the Rule Protocol between the Ontario Securities Commission (Commission) and CDCC, the Commission approved on August 14, 2015 amendments to Rule B-3 of CDCC to introduce acceleration of expiry. A copy of the CDCC notice was published for comment on June 6, 2015 on the Commission's website at: http://www.osc.gov.on.ca. No comments were received.
August 27, 2015 (2015), 38 OSCB 7491
Index
1415409 Ontario Inc. Notice of Hearing – ss. 127, 127.1 ............................ 7323 Notice from the Office of the Secretary ..................... 7329 Notice from the Office of the Secretary ..................... 7329 Order – ss. 127, 127.1 .............................................. 7355 Agrium Inc. Order – s. 104(2)(c) .................................................. 7343 Antya Investments Inc. New Registration ....................................................... 7485 Argosy Securities Inc. Reasons: Director’s Decision – s. 31 ........................ 7393 Armadillo Energy Inc. Notice from the Office of the Secretary ..................... 7328 Order ......................................................................... 7350 Reasons: OSC Decisions – ss. 127, 127.1 ............... 7377 Armadillo Energy LLC Notice from the Office of the Secretary ..................... 7328 Order ......................................................................... 7350 Reasons: OSC Decisions – ss. 127, 127.1 ............... 7377 Armadillo Energy, Inc. Notice from the Office of the Secretary ..................... 7328 Order ......................................................................... 7350 Reasons: OSC Decisions – ss. 127, 127.1 ............... 7377 Armadillo Energy, LLC Notice from the Office of the Secretary ..................... 7328 Order ......................................................................... 7350 Reasons: OSC Decisions – ss. 127, 127.1 ............... 7377 Azeff, Paul Notice from the Office of the Secretary ..................... 7328 Order – ss. 127, 127.1 .............................................. 7351 Reasons: OSC Decisions – ss. 127, 127.1 ............... 7382 Bigfoot Recreation & Ski Area Ltd. Notice from the Office of the Secretary ..................... 7326 Order – s. 127 ........................................................... 7338 Reasons: OSC Decisions – ss. 127(1), 127(10) ....... 7370 Bobrow, Korin Notice from the Office of the Secretary ..................... 7328 Order – ss. 127, 127.1 .............................................. 7351 Reasons: OSC Decisions – ss. 127, 127.1 ............... 7377 Brookfield Financial Securities LP New Registration ....................................................... 7485 Canadian Imperial Venture Corp. Cease Trading Order ................................................ 7399
CDCC Clearing Agencies – Amendments to the Rule B-3 of CDCC to Introduce Acceleration of Expiry – Notice of Commission Approval ............................. 7390 CDS Clearing Agencies – Material Amendments to CDS Procedures – CAD and USD Receivers of Credit Pool Category Credit Rings – OSC Staff Notice of Request for Comment ....................... 7488 Clearing Agencies – Material Amendments to CDS Rules – CAD and USD Receivers of Credit Category Credit Rings – OSC Staff Notice of Request for Comment .............................................. 7489 CDS Procedures Clearing Agencies – CAD and USC Receivers of Credit Pool Category Credit Rings – OSC Staff Notice of Request for Comment ....................... 7488 CDS Rules Clearing Agencies – CAD and USD Receivers of Credit Category Credit Rings – OSC Staff Notice of Request for Comment ............................... 7489 Cheng, Francis Notice from the Office of the Secretary ..................... 7328 Order – ss. 127, 127.1 .............................................. 7351 Reasons: OSC Decisions – ss. 127, 127.1 ............... 7382 Cheng, Man Kin Notice from the Office of the Secretary ..................... 7328 Order – ss. 127, 127.1 .............................................. 7351 Reasons: OSC Decisions – ss. 127, 127.1 ............... 7382 Coastal Gold Corp. Decision – s. 1(10)(a)(ii) ........................................... 7333 Order – s. 1(6) of the OBCA ..................................... 7348 Condon, Mary G. Authorization Order – s. 3.5(3) ................................. 7341 Dave, Ametra Notice of Hearing – ss. 127, 127.1 ........................... 7323 Notice from the Office of the Secretary ..................... 7329 Notice from the Office of the Secretary ..................... 7329 Order – ss. 127, 127.1 .............................................. 7355 Dave, Chandramattie Notice of Hearing – ss. 127, 127.1 ........................... 7323 Notice from the Office of the Secretary ..................... 7329 Notice from the Office of the Secretary ..................... 7329 Order – ss. 127, 127.1 .............................................. 7355 Dave, Ravindra Notice of Hearing – ss. 127, 127.1 ........................... 7323 Notice from the Office of the Secretary ..................... 7329
Index
August 27, 2015 (2015), 38 OSCB 7492
Notice from the Office of the Secretary ..................... 7329 Order – ss. 127, 127.1 .............................................. 7355 DeBoer, Douglas Notice from the Office of the Secretary ..................... 7328 Order ......................................................................... 7350 Reasons: OSC Decisions – ss. 127, 127.1 ............... 7377 DiNardo, Paul Camillo Notice of Hearing and Statement of Allegations – ss. 127(1), 127(10) .............................. 7324 Notice from the Office of the Secretary ..................... 7327 Dunk, Michelle Notice from the Office of the Secretary ..................... 7238 Order ......................................................................... 7350 Reasons: OSC Decisions – ss. 127, 127.1 ............... 7377 Finkelstein, Mitchell Notice from the Office of the Secretary ..................... 7328 Order – ss. 127, 127.1 .............................................. 7351 Reasons: OSC Decisions – ss. 127, 127.1 ............... 7382 Ground Wealth Inc. Notice from the Office of the Secretary ..................... 7328 Order ......................................................................... 7350 Reasons: OSC Decisions – ss. 127, 127.1 ............... 7377 Hanna-Rogerson, Amy Notice from the Office of the Secretary ..................... 7326 Order – ss. 127, 127.1 .............................................. 7336 Reasons: OSC Decisions – ss. 127, 127.1 ............... 7357 IIROC SROs – Margin Requirements for Certain Cash and Security Borrowing and Lending Arrangements – Proposed Amendments to Schedules 1, 7 and 7A of Dealer Member Form 1 ...................................................................... 7487 iShares FactorSelectTM MSCI Canada Index ETF Designation Order – s. 1.1 ........................................ 7340 iShares FactorSelectTM MSCI EAFE Index ETF (CAD-Hedged) Designation Order – s. 1.1 ........................................ 7340 iShares FactorSelectTM MSCI EAFE Index ETF Designation Order – s. 1.1 ........................................ 7340 iShares FactorSelectTM MSCI USA Index ETF (CAD-Hedged) Designation Order – s. 1.1 ........................................ 7340 iShares FactorSelectTM MSCI USA Index ETF Designation Order – s. 1.1 ........................................ 7340 Kerwin, Edward P. Authorization Order – s. 3.5(3) .................................. 7341 Keybase Financial Group Inc. Reasons: Director’s Decision – s. 31 ........................ 7393
Kowal, Monica Authorization Order – s. 3.5(3) ................................. 7341 Leiper, Janet Authorization Order – s. 3.5(3) ................................. 7341 Lenczner, Alan J. Authorization Order – s. 3.5(3) ................................. 7341 Mackenzie Financial Corporation Decision .................................................................... 7331 McHaffie, Ronald Stephen Notice from the Office of the Secretary ..................... 7326 Order – s. 127........................................................... 7338 Reasons: OSC Decisions – ss. 127(1), 127(10) ....... 7370 Mega Precious Metals Inc. Order – s. 1(6) of the OBCA ..................................... 7334 Miller, Howard Jeffrey Notice from the Office of the Secretary ..................... 7328 Order – ss. 127, 127.1 .............................................. 7351 Reasons: OSC Decisions – ss. 127, 127.1 ............... 7382 Monaghan, Clifford Todd Notice from the Office of the Secretary ..................... 7327 Order ........................................................................ 7342 Moseley, Timothy Authorization Order – s. 3.5(3) ................................. 7341 Newlox Gold Ventures Corp. Cease Trading Order ................................................ 7399 NexGen Financial Limited Partnership Name Change .......................................................... 7485 NGAM Canada LP Name Change .......................................................... 7485 Portfolio Capital Inc. Notice from the Office of the Secretary ..................... 7236 Order – ss. 127, 127.1 .............................................. 7336 Reasons: OSC Decisions – ss. 127, 127.1 ............... 7357 Portner, Christopher Authorization Order – s. 3.5(3) ................................. 2.2.5 Quanta Resources Inc. Cease Trading Order ................................................ 7399 RDX Technologies Corporation Cease Trading Order ................................................ 7399 Red Cloud Capital Inc. New Registration ...................................................... 7485 Rogerson, David Notice from the Office of the Secretary ..................... 7326 Order – ss. 127, 127.1 .............................................. 7336 Reasons: OSC Decisions – ss. 127, 127.1 ............... 7357
Index
August 27, 2015 (2015), 38 OSCB 7493
Silver Stream Mining Corp. Cease Trading Order ................................................ 7399 Smith, Adrion Notice from the Office of the Secretary ..................... 7328 Order ......................................................................... 7350 Reasons: OSC Decisions – ss. 127, 127.1 ............... 7377 Title One Closing Inc. Notice of Hearing – ss. 127, 127.1 ............................ 7323 Notice from the Office of the Secretary ..................... 7329 Notice from the Office of the Secretary ..................... 7329 Order – ss. 127, 127.1 .............................................. 7355 Vingoe, D. Grant Authorization Order – s. 3.5(3) .................................. 7341 Webster, Joel Notice from the Office of the Secretary ..................... 7328 Order ......................................................................... 7350 Reasons: OSC Decisions – ss. 127, 127.1 ............... 7377 Wetston, Howard I. Authorization Order – s. 3.5(3) .................................. 7341
Index
August 27, 2015 (2015), 38 OSCB 7494
This page intentionally left blank
top related