Settlements

Arthur Clemiss [Agreed Statement]

BCSECCOM #:
Document Type:
Agreed Statement
Published Date:
1992-05-22
Effective Date:
1992-05-14
Details:



Clemiss (Re)
IN THE MATTER OF The Securities Act, S.B.C. 1985, c. 83
AND IN THE MATTER OF Arthur Clemiss
Agreed Statement of Facts and Undertaking
W.D. Nesmith
May 14, 1992

AGREED STATEMENT OF FACTS AND UNDERTAKING:-- The following agreement has been reached between Arthur Clemiss ("Clemiss") and the Superintendent of Brokers:

1.As the basis for the undertakings referred to in paragraph 2 of this agreement, Clemiss acknowledges the following facts to be correct:
(a)Rocket Resources Ltd., formerly Gigi Resources Ltd. ("Gigi"), is a reporting issuer in British Columbia incorporated under the Company Act, R.S.B.C. 1979, c. 59 (the "Company Act") on March 27, 1980 and was, at all times material to this agreement, an exchange issuer;
(b)International Ticker Tape Resources Ltd., formerly Ticker Tape Resources Ltd. ("Ticker Tape"), is a reporting issuer in British Columbia incorporated under the Company Act on January 27, 1984 and was, at all times material to this agreement, an exchange issuer;
(c)Adrian Resources Ltd. ("Adrian") is a reporting issuer in British Columbia incorporated under the Company Act on October 10, 1985 and was, at all times material to this agreement, an exchange issuer; and
(d)during August of 1989 Clemiss was a control person of Gigi, Ticker Tape and Adrian and distributed, through the facilities of the Vancouver Stock Exchange, approximately 1,021,000 shares of Adrian, 828,000 shares of Gigi and 556,000 shares of Ticker Tape without issuing a prospectus and without a prospectus exemption.
2.Clemiss agrees to pay to the order of the Minister of Finance and Corporate Relations the sum of $25,000 and undertakes to ensure that all distributions of securities by him in the future are in compliance with the provisions of the Securities Act, S.B.C. 1985, c. 83 (the "Act") and the Securities Regulation, B.C. Reg. 270/86.
3.Clemiss waives any right he has or may have, under the Act or otherwise, to a hearing, hearing and review, judicial review or appeal related to, in connection with or incidental to this agreement.

DATED at Vancouver, British Columbia, on May 8, 1992.

"Arthur Clemiss"
W.D. NESMITH
Superintendent of Brokers