Securities Commission Issues Cease Trade Order

N.S. SECURITIES COMMISSION--Securities Commission Issues Cease Trade Order

The Nova Scotia Securities Commission issued a temporary management cease trade order for Navitrak International Corporation on Friday, Sept. 20.

The order applies only to the directors, officers or insiders of Navitrak International Corporation who are named in the order. It prohibits them from buying or selling securities of the company. The order does not apply to regular shareholders.

The order was issued as a result of the company's failure to file its interim financial statements for the period ended June 30, 2002, as required by the Nova Scotia Securities Act. The order will remain in effect until two full business days after the commission receives the information or until a hearing is held on Oct. 4.