Amended Notice of Hearing

Saafnet Canada Inc., Nizam Dean,
and Vikash Sami

Section 161 of the Securities Act, RSBC 1996, c. 418

Background
1. Saafnet was a federal company (dissolved for non-compliance April 4, 2012) and was registered as an extra-provincial company in British Columbia. Saafnet has never filed a prospectus under the Act.
2. Saafnet’s primary business was to build and market computer hardware products relating to internet security and access.
3. AlphaShield Co. (AlphaShield) is a sole proprietorship registered in British Columbia.
4. Saafnet was doing business as AlphaShield during all relevant times.
5. Dean was a resident of British Columbia, and a director and founder of Saafnet at all relevant times Dean represented himself as a senior vice-president of AlphaShield.
6. Sami was a resident of British Columbia, and a director and founder of Saafnet at all relevant times. Sami represented himself as the chief executive officer of AlphaShield.
7. None of the respondents have ever been registered to trade securities under the Act.

Misconduct
Illegal Trading and Distributions
8. Between June 2000 and May 2008 (Relevant Period), the Respondents organized presentations, met with investors, marketed the shares of Saafnet and distributed shares to the investors.
9. During the Relevant Period the Respondents raised CDN $1,341,905 and US $1,094,248,248 from 65 investors by selling shares of Saafnet.
10. By distributing and promoting Saafnet securities without being registered or having filed a prospectus, Saafnet, Dean, and Sami contravened section 61 of the Act.
11. Dean and Sami, as officers and directors of Saafnet, authorized, permitted or acquiesced in Saafnet’s contraventions of section 61 of the Act and, therefore, also contravened the same provisions under section 168.2 of the Act.

Public Interest

Hearing Process