BCSC

Settlements

Chelan Resources Inc. et al. [Agreed Stmt]

BCSECCOM #:	Document Type: Agreed Stmt
Published Date: 1993-06-25	Effective Date: 1993-06-17
Details:

IN THE MATTER OF the Securities Act, S.B.C. 1985, chapter 83
AND IN THE MATTER OF Chelan Resources Inc.
AND IN THE MATTER OF Lynn Ellen Winter

Orders Under Section 144

D.E. Holley

June 17, 1993

ORDER:-- WHEREAS an agreed statement of facts and undertaking was executed between Lynn Ellen Winter ("Winter") and the Superintendent of Brokers (the "Superintendent"), dated June 17, 1993 (the "Winter Agreement");

NOW THEREFORE, the Superintendent, considering that it would be in the public interest to do so, orders BY CONSENT that:

1.		pursuant to section 144(1)(c) of the Securities Act, S.B.C. 1985, c. 83 (the "Act"), the exemptions described in sections 30 to 32, 55, 58, 80 and 81 of the Act do not apply to Winter; and
2.		pursuant to section 144(1)(d) of the Act, Winter is prohibited from becoming or acting as a director or officer of any reporting issuer

for a period commencing on the date of these orders and expiring two years from the date Winter files the Winter Insider Reports as defined in the Winter Agreement.

D.E. HOLLEY
Superintendent of Brokers

* * * * *

Agreed Statement of Facts and Undertaking

The following agreement has been reached between Lynn Ellen Winter ("Winter") and the Superintendent of Brokers (the "Superintendent"):

As the basis for the undertakings referred to in paragraph two of this agreement and the orders made by the Superintendent under sections 144(1)(c) and 144(1)(d) of the Securities Act, S.B.C. 1985, c. 83 (the "Act"), Winter acknowledges the following facts as correct:

(a)		Chelan Resources Inc. ("Chelan") is a reporting issuer incorporated under the Company Act, R.S.B.C. 1979, c. 59 (the "Company Act");
(b)		the common shares of Chelan (the "Chelan Shares") were listed and posted for trading on the Vancouver Stock Exchange (the "Exchange") from December 10, 1986 until March 4, 1992, at which date the Chelan Shares were delisted;
(c)		Winter was a director and the president of Chelan from August 27, 1991 to November 6, 1991 (the "Relevant Period");
(d)		Winter failed to file insider reports for the months of October and November, 1991, disclosing the purchase of 9,500, and disposition of 134,500, Chelan Shares through her brokerage account during the Relevant Period, contrary to section 70 of the Act;
(e)		on September 26, 1991 Chelan distributed a total of 100,000 common shares. Winter knew or ought to have known that Chelan failed to file a Form 20 for this transaction contrary to section 132 of the Securities Regulation, B.C. Reg. 270/86 (the "Regulation"); and
(f)		on October 7, 1991, Winter signed a treasury order causing Chelan to issue 106,000 shares to Brooke Langdon. Winter knew or ought to have known that Chelan failed to obtain Exchange approval for this transaction, and distributed the shares without registration and a prospectus, or an available exemption from the registration and prospectus requirements of the Act, contrary to sections 20 and 42 of the Act.

2.		Winter undertakes to file within 30 days of the date of this agreement the insider reports disclosing the transactions referred to in paragraph 1(d) of this agreement (the "Winter Insider Reports"), and undertakes to comply with the provisions of the Act and the Regulation from the date of this agreement.
3.		Winter consents to orders (the "Orders") of the Superintendent that:

(a)		the exemptions described in sections 30 to 32, 55, 58, 80 and 81 of the Act do not apply to Winter; and
(b)		Winter is prohibited from becoming or acting as a director or officer of any reporting issuer

for a period commencing on the date of the Orders and expiring two years from the date Winter files the Winter Insider Reports.

4.		Winter agrees to pay the Minister of Finance and Corporate Relations the sum of $500.
5.		Winter waives any right she 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 and the Orders.

DATED at Vancouver, British Columbia, on June 17, 1993.

Witness
B. KRUTOW	)
1100 - 865 Hornby Street	)	LYNN ELLEN WINTER
Vancouver	)

DATED at Vancouver, British Columbia, on June 17, 1993.

D.E. HOLLEY
Superintendent of Brokers