Temporary Order Issued Against Ontario Investment Company

N.S. SECURITIES COMMISSION--Temporary Order Issued Against Ontario Investment Company

The Nova Scotia Securities Commission issued a temporary order today, Feb. 2, against Portus Alternative Asset Management Inc. (Portus). The order prevents Portus from opening new client accounts and accepting new funds or assets for investment in respect to any existing client accounts.

Portus is an investment counselling and portfolio management company located in Ontario and registered to operate in Nova Scotia through the securities commission.

The commission issued the temporary order based on conduct by Portus, which appears to contravene sections 30 and 31 of the General Securities Rules, and to be contrary to the public interest. The order was made pursuant to subsections 134 and 136 of the Nova Scotia Securities Act.

The commission will hold a hearing to consider whether the temporary order should be continued. The hearing is scheduled for Thursday, Feb. 17, at 10 a.m. at the offices of the Nova Scotia Securities Commission, 1690 Hollis St., 2nd Floor, Halifax.

A copy of the temporary order will be available on the securities commission website -- www.gov.ns.ca/nssc -- on Thursday, Feb. 3.

Any investors who have questions can contact the commission at 902-424-6179.