Settlements

ADRIAN F.C. HOBKIRK [Sec. 161 & Agreed Stmt]

BCSECCOM #:
Document Type:
Sec. 161 & Agreed Stmt
Published Date:
1999-07-02
Effective Date:
1999-06-24
Details:


IN THE MATTER OF THE SECURITIES ACT
R.S.B.C. 1996, c. 418

AND

IN THE MATTER OF ADRIAN F.C. HOBKIRK


Order Under Section 161


WHEREAS an Agreed Statement of Facts and Undertaking has been executed by Adrian F.C. Hobkirk (“Hobkirk”) and the Executive Director, a copy of which is attached hereto as Schedule "A".

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 sections 44 to 47, 74, 75, 98 and 99 of the Act do not apply to Hobkirk for a period of six months from the date of this order, except:
      1.1 Hobkirk may carry out any act, advertisement, solicitation, conduct or negotiation directly or indirectly in furtherance of a distribution of a security of Kaieteur Resource Corporation (“Kaieteur”) that has not been previously issued where the distribution is made under:
          1.1.1 a preliminary prospectus and a prospectus, where Kaieteur files with and obtains a receipt for them from the Executive Director pursuant to section 61 of the Act; or

          1.1.2 any registration and prospectus exemptions available to Kaieteur under the Act.

DATED at Vancouver, British Columbia, on June 24, 1999.



Wayne Redwick
A/Executive Director



Schedule “A”
IN THE MATTER OF THE SECURITIES ACT
R.S.B.C. 1996, c. 418

AND

IN THE MATTER OF ADRIAN F.C. HOBKIRK

Agreed Statement of Facts and Undertaking

The following agreement has been reached between Adrian F.C. Hobkirk (“Hobkirk”) and the Executive Director:

1. As the basis for the order and undertaking set out in paragraphs 2 and 3 of this agreement, Hobkirk acknowledges the following facts as correct:
      1.1 Kaieteur Resource Corporation (“Kaieteur”), which was formerly known as International All-North Resources Ltd. and All-North Resources Ltd., is a reporting issuer under the Securities Act, R.S.B.C. 1996, c. 418 (the “Act”) and its common shares are listed and posted for trading on the Vancouver Stock Exchange;
      1.2 Hobkirk has been a director of Kaieteur since May 23, 1995, and the president since November 1995;
      1.3 Hobkirk became an insider of Kaieteur on May 23, 1995, and was required to file an insider report within 10 days of becoming an insider, in accordance with the provisions of section 87(2) of the Act;
      1.4 Hobkirk’s direct or indirect beneficial ownership of or control or direction over securities of Kaieteur changed after May 23, 1995, in that he acquired and disposed of securities from his holdings, such that he was required to file insider reports within 10 days after the end of the month in which the change took place, in accordance with the provisions of section 87(4) of the Act;

      1.5 Hobkirk bulk filed insider reports for the months of May 1995, June 1995, July 1995, August 1995, September 1995, October 1995 and December 1995, on January 25, 1996, which was outside the prescribed time period, contrary to sections 87(2) and 87(4) of the Act; and
      1.6 Hobkirk, at the request of the British Columbia Securities Commission (the “Commission”), bulk filed insider reports for the months of March 1996, April 1996, May 1996, July 1996, August 1996, September 1996, November 1996, March 1997, April 1997, May 1997, June 1997, August 1997 and September 1997, on October 28, 1997, which was outside the prescribed time period, contrary to section 87(4) of the Act.

2. Hobkirk consents to an order of the Executive Director (the “Order”) that, under section 161(1)(c) of the Act, the exemptions described in sections 44 to 47, 74, 75, 98 and 99 of the Act do not apply to Hobkirk for a period of six months from the date of this agreement, except:
      2.1. Hobkirk may carry out any act, advertisement, solicitation, conduct or negotiation directly or indirectly in furtherance of a distribution of a security of Kaieteur that has not been previously issued where the distribution is made under:
          2.1.1 a preliminary prospectus and a prospectus, where Kaieteur files with and obtains a receipt for them from the Executive Director pursuant to section 61 of the Act; or

          2.1.2 any registration and prospectus exemptions available to Kaieteur under the Act.
3. Hobkirk undertakes to ensure that all of his required filings under the Act are complete, accurate and timely, and to comply fully with the Act and the Securities Rules, R.B.C. Reg. 194/97.

4. Hobkirk agrees to pay the sum of $6,000 to the Commission, $1,500 of which represents the costs of the investigation and the remainder a penalty.

5. Hobkirk waives any right he 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 June 21, 1999.

“S. Zimmer" )
Witness )
)
S. Zimmer ) “Adrian F.C. Hobkirk”
Witness Name (please print) ) Adrian F.C. Hobkirk
)
1940 - 400 Burrard Van, BC. )
Address )
)
Administrator )
Occupation )

DATED at Vancouver, British Columbia, on June 24, 1999.






Wayne Redwick
A/Executive Director

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