Settlements

Donald J. Morrison [Sec. 144 & Agreed Stmt]

BCSECCOM #:
Document Type:
Sec. 144 & Agreed Stmt
Published Date:
1990-02-16
Effective Date:
1990-01-31
Details:


IN THE MATTER OF the Securities Act, S.B.C. 1985,
c. 83, as amended
AND IN THE MATTER OF Donald J. Morrison
Orders under Section 144
W. Nesmith
January 31, 1990

   ORDERS:-- WHEREAS an Agreed Statement of Facts and Undertaking was executed by Donald John Morrison ("Morrison") and the Superintendent of Brokers (the "Superintendent") a copy of which is attached as Schedule "A";

   AND WHEREAS the Superintendent has agreed to discontinue the proceedings before the British Columbia Securities Commission;

   NOW THEREFORE the Superintendent considering that it would be in the public interest, orders that:

1)
pursuant to section 144(1) (c) of the Securities Act, S.B.C. 1985 c. 85 as amended (the "Act") the exemptions contained in sections 30 to 32, 55, 58, 80 and 81 of the Act do not apply to Morrison for a period ending on January 10, 1994;
2)
that notwithstanding the removal of the exemptions set forth in paragraph l of this Order, Morrison may rely upon those exemptions with respect to the sale of 200 shares of Leeward Capital Corp., 62,500 shares of Noxe Resource Corp. and 200,000 shares of Arizona Golden Pacific Resources Ltd. owned directly by him as of the date of this Order for a period of 60 days from the date of this Order and at the termination of such period Morrison shall report all such sales forthwith to the Compliance and Enforcement department of the British Columbia Securities Commission;
3)
pursuant to section 144(1)(d) of the Act, Morrison is prohibited from becoming or acting as a director or officer of any reporting issuer for a period ending on January 10, 1994.
W. NESMITH
Superintendent of Brokers

Schedule "A"
IN THE MATTER OF THE SECURITIES ACT
S.B.C. 1985 C. 83 AS AMENDED
AND IN THE MATTER OF DONALD J. MORRISON
ORDERS UNDER SECTION 144 AND
NOTICE OF HEARING
AGREED STATEMENT OF FACTS AND UNDERTAKING

   The following agreement has been reached between Donald John Morrison ("Morrison") and the Superintendent of Brokers (the "Superintendent"):

1.
As the basis for orders made pursuant to sections 144(1) (c) and 144(1)(d) of the Securities Act, S.B.C. 1985, c. 83 as amended (the "Act") withdrawing the statutory exemptions of Morrison and prohibiting Morrison from becoming or acting as a director or officer of any reporting issuer, Morrison acknowledges the following facts as correct:
a)
that Morrison is a resident of Calgary, Alberta;
b)
New Pioneer Explorations Ltd. ("New Pioneer") was during the period from May 13, 1988 to January 12, 1989 ("the Material Time") a company whose securities were trading on the Vancouver Stock Exchange;
c)
Morrison was during the Material Time the President, a director and a shareholder of New Pioneer;
d)
on April 14, 1989 the Alberta Securities Commission Board considered the matters disclosed in an Agreed Statement of Facts - Morrison and New Pioneer and a Notice of Hearing, copies of which are attached hereto as Exhibit "A" and decided that:
i)
New Pioneer traded in securities in breach of sections 54(1)(a) and 81 of the Securities Act, 1981 Statutes of Alberta, Chapter S-6.1 as amended ("the Alberta Act") and New Pioneer did not file the insider reports required by Section 147 of the Alberta Act within the time prescribed in the Alberta Act;
ii)
Morrison traded in securities in breach of sections 54(1)(a) and 81 of the Alberta Act. Morrison did not file the insider reports required by Section 147 of the Alberta Act within the time prescribed in the Alberta Act. Morrison engaged in the trading of securities in a manner contrary to the public interest;
e)
On April 14, 1989 the Alberta Securities Commission Board ordered that New Pioneer and Morrison cease trading in all securities for a period of seven (7) years from January 10, 1989 and all of the exemptions contained in sections 65, 66, 107, 115, 116, 132 and 133 and in the Regulations under the Alberta Act do not apply to New Pioneer or Morrison for a period of seven (7) years from January 10, 1989 subject to certain exceptions set out within the Order, a copy of which is attached hereto as Exhibit "B";
f)
New Pioneer was cease traded pursuant to section 146 of the Act on January 27, 1989 and it was delisted from the Vancouver Stock Exchange on March 2, 1989;
g)
Morrison is still listed as a director of New Pioneer in the records of the Registrar of Companies in British Columbia;
2.
Morrison hereby consents to an order of the Superintendent pursuant to sections 144(1)(c) and 144(1)(d) of the Act in the form annexed hereto and consents to the filing of the order in a Supreme Court Registry pursuant to section 144.2 of the Act;
3.
Morrison waives his right to a hearing by the British Columbia Securities Commission pursuant to section 147 of the Act arid any right to an appeal under section 149 of this Act with respect to the Order.
   Dated January 8th, 1990 at Calgary, Alberta.

"DON MORRISON"

   Dated January 31, 1990 at Vancouver, British Columbia.

W. NESMITH
Superintendent of Brokers