Settlements
JON BRIAN PERRETT [Sec. 161 & Agreed Stmt]
BCSECCOM #:
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Document Type:
Sec. 161 & Agreed Stmt
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Published Date:
1997-10-24
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Effective Date:
1997-10-16
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Details:
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IN THE MATTER OF THE SECURITIES ACT
R.S.B.C. 1996, c. 418
AND
IN THE MATTER OF JON BRIAN PERRETT
Order Under Section 161
WHEREAS an Agreed Statement of Facts and Undertaking was executed by Jon Brian Perrett (“Perrett”) and the Executive Director, a copy of which is attached hereto as Schedule “A” ( the “Agreed Statement”);
NOW THEREFORE the Executive Director, considering that it would be in the public interest to do so, orders, BY CONSENT, that:
1. under section 161(1)(c) of the Securities Act, R.S.B.C. 1996, c. 418 (the “Act”), the exemptions described in any of sections 44 to 47, 74, 75, 98 and 99 of the Act do not apply to Perrett for a period of two years from the date of this order; and
2. under section 161(1)(d) of the Act, Perrett is prohibited from becoming or acting as a director or officer of any reporting issuer for a period ending on the later of:
- (a) the date Perrett satisfies his obligation described in paragraph 3(b) of the Agreed Statement;
(b) the date Perrett completes a course of study satisfactory to the Executive Director concerning public companies and the duties and responsibilities of directors and officers of public companies; and
(c) two years from the date of this order.
DATED at Vancouver, British Columbia, on October 16, 1997.
Paul C. Bourque
Executive Director
Schedule “A”
IN THE MATTER OF THE SECURITIES ACT
R.S.B.C. 1996, c. 418
AND
IN THE MATTER OF JON BRIAN PERRETT
Agreed Statement of Facts and Undertaking
The following agreement has been reached between Jon Brian Perrett (“Perrett”) and the Executive Director:
1. As the basis for the order and undertakings in paragraphs 2 and 3 of this agreement, Perrett acknowledges the following facts as correct:
- purchased and sold a total of 388,000 shares through the Exchange;
- acquired options to purchase 60,000 shares;
- purchased 60,000 shares by exercising options; and
- purchased under an exempt offering 74,713 shares and warrants;
- purchased and sold a total of 108,500 shares through the Exchange;
- purchased under two exempt offerings 77,500 shares and 37,083 shares and warrants; and
- allowed warrants to purchase 74,713 shares expire;
- purchased and sold a total of 162,083 shares through the Exchange; and
- purchased 37,083 shares by exercising warrants; and
- purchased 16,500 shares through the Exchange; and
- purchased under an exempt offering 71,250 shares and warrants;
- (a) International Silver Ridge Resources Inc. (“Silver Ridge”) is an exchange issuer incorporated under the Company Act, R.S.B.C. 1996, c. 62;
(b) Silver Ridge became a reporting issuer on February 1, 1985;
(c) Perrett has been a director and officer of Silver Ridge since September 28, 1984;
(d) on May 2, 1997, Perrett informed staff of the British Columbia Securities Commission of his failure to comply with section 87(4) of the Securities Act, R.S.B.C. 1996, c. 418 (the “Act”) and filed insider reports disclosing for the first time his balance of securities held in Silver Ridge, and the following changes in his beneficial ownership of the securities of Silver Ridge, during the period from July 1, 1991 to date:
- (i) during 1991, Perrett purchased and sold a total of 66,500 shares through the Exchange;
(ii) during 1992, Perrett purchased and sold a total of 68,000 shares through the Exchange;
(iii) during 1993, Perrett:
(e) Perrett’s direct or indirect beneficial ownership of, or control or direction over, Silver Ridge shares has not changed, other than as disclosed above, since July 1, 1991.
- (a) under section 161(1)(c) of the Act, the exemptions described in any of sections 44 to 47, 74, 75, 98 and 99 do not apply to Perrett for a period of two years; and
(b) under section 161(1)(d) of the Act, Perrett is prohibited from becoming or acting as a director or officer of any reporting issuer for a period ending on the later of:
- (i) the date Perrett satisfies his obligation described in paragraph 3(b) below;
(ii) the date Perrett completes a course of study satisfactory to the Executive Director concerning public companies and the duties and responsibilities of directors and officers of public companies; and
(iii) two years from the date of the Order.
- (a) comply with the provisions of the Act and the Securities Rules, R.B.C. Reg. 194/97, from the date of this agreement; and
(b) pay to the British Columbia Securities Commission the sum of $2,000 and late filing fees in the amount of $1,600.
DATED at Vancouver, British Columbia, on September 24, 1997.
S. Sobolewski_________________ | ) | |
Witness (Please print) | ) | |
Barrister & Solicitor_____________ | ) | ________________________ |
1600 Stock Exchange Tower | ) | Jon Brian Perrett |
609 Granville Street, P.O. Box 10068 | ) | |
Vancouver, BC V7Y 1C3________ | ) | |
Address | ) |
DATED at Vancouver, British Columbia, on October 16, 1997.
Paul C. Bourque
Executive Director