Notices of Hearing & Temporary Orders

TECH INVESTMENTS INC. [Sec. 161]

BCSECCOM #:
Document Type:
Sec. 161
Published Date:
1999-06-04
Effective Date:
1999-05-07
Details:


IN THE MATTER OF THE SECURITIES ACT
R.S.B.C. 1996, c. 418

AND

IN THE MATTER OF TECH INVESTMENTS INC. AND
VANTAGE INVESTOR RELATIONS

AND

IN THE MATTER OF JACK WEATHERELL AND ROSS KAIN

Notice of Hearing Under Section Under Section 161

1. TAKE NOTICE that a hearing will be held (the “Hearing”) to give Tech Investments Inc. (“Tech”), Vantage Investor Relations (“Vantage”), Jack Weatherell (“Weatherell”) and Ross Kain (“Kain”) (collectively referred to as the “Respondents”) an opportunity to be heard before the British Columbia Securities Commission (the “Commission”). At the Hearing the Commission will be asked by the Staff of the Commission to make the following orders in the public interest:
      1.1 any or all of the exemptions described in sections 44 to 47, 74, 75, 98 or 99 of the Securities Act, R.S.B.C. 1996, c. 418 (the “Act”) do not apply to the Respondents pursuant to section 161(1)(c) of the Act;

      1.2 Weatherell and Kain be prohibited from becoming a director or officer of any issuer pursuant to section 161(1)(d) of the Act;

      1.3 Weatherell and Kain be prohibited from engaging in investor relations activities pursuant to section 161(1)(d)(iii) of the Act;

      1.4 the Respondents pay an administrative penalty pursuant to section 162 of the Act;

      1.5 the Respondents pay prescribed fees or charges for the costs of or related to the Hearing pursuant to section 174 of the Act; and

      1.6 any other orders as may be appropriate in the circumstances;
2. AND TAKE NOTICE that the Commission will be asked to consider the following facts and allegations in making its determinations:
      2.1 at all material times, Weatherell and Kain were residents of British Columbia;

      2.2 Tech is not incorporated in the Province of British Columbia nor is it extra-provincially registered to do business in British Columbia;

      2.3 Vantage is a sole proprietorship of Kain, doing business as Vantage;
      2.4 none of the Respondents are registered in any capacity under section 34 of the Act;

      2.5 during the period between April 1, 1998 and September 1, 1998 (the “Relevant Period”), the Respondents invited members of the public within British Columbia and Alberta to invest in securities of certain issuers;

      2.6 during the Relevant Period, the Respondents traded and/or advised in securities in British Columbia, without registration and without an exemption, contrary to sections 34 and 61 of the Act; and

      2.7 during the Relevant Period, the Respondents engaged in investor relation activities in British Columbia, and with the intention of effecting a trade, made representations as to the future value or price of securities, contrary to section 50(1)(b) of the Act and made representations that securities were listed or posted for trading on an exchange, contrary to section 50(1)(c) of the Act. In particular:

          2.7.1 on April 17, 1998, Kain represented that LanguageForce Inc. (“LanguageForce”), the potential seed stock investment, would be listed on the EBB (“Electronic Bulletin Board”), more commonly known as the OTC Bulletin Board, which was represented by Kain as “the stepping stone to NASDAQ”, and that LanguageForce anticipated it would be listed on NASDAQ by the last quarter of 1998, contrary to section 50(1)(c) and 50(1)(d) of the Act;

          2.7.2 Kain variously held himself out as an “Investment Dealer” and an “Investment Advisor”, contrary to sections 34 and 50(1)(d) of the Act and section 11 of the Securities Rules, B.C. Reg. 479/95 (the “Rules”); and

          2.7.3 Weatherell, while engaging in investor relations activities and with the intention of effecting a trade in the securities of Goanna Resources Inc. (“Goanna”), represented that the share price in Goanna would at least double in price when the drilling results came out in October, 1998, contrary to section 50(1)(b) of the Act;
3. AND TAKE NOTICE that the Respondents may be represented by counsel at the Hearing and make representations and lead evidence. The Respondents are requested to advise the Commission of their intention to attend the Hearing by contacting the Secretary to the Commission, at 1200 - 865 Hornby Street, Vancouver, BC V6Z 2H4;

4. AND TAKE NOTICE that the Respondents are required to attend at the 7th Floor Hearing Room, 865 Hornby Street, Vancouver, BC, on Tuesday, June 8, 1999, at 10:00 a.m., if they wish to be heard before the Commission fixes a date for the Hearing;

5. AND TAKE NOTICE that determinations may be made in this matter if the Respondents or their counsel do not appear at the Hearing.


DATED at Vancouver, British Columbia, on May 7, 1999.




Wayne Redwick, C.G.A.
Acting Executive Director
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