August 14, 2008 Decisions and Freeze and cease trade orders Securities

Montréal – At the request of the Autorité des marchés financiers (AMF), the Bureau de décision et de révision en valeurs mobilières (BDRVM) issued an order on August 4, 2008 against Borealis International Inc., The Synergy Group (2000) Inc., Integrated Business Concepts Inc., Canavista Corporate Services Inc., Canavista Financial  Inc. and Ray Murphy to cease any activity, directly or indirectly, in respect of a transaction in securities, in particular for the purpose of seeking subscribers or purchasers for their securities in Québec or distributing promotional material about their securities or real estate projects. This order stems from a reciprocal cease trade order made following decisions handed down in Alberta and Ontario.

In its decision, the BDRVM expressed concern about the following facts and allegations:

• Borealis offered the public investments of $150,000 for an annual return of 10% to 18%;
• investigations into the respondents' distribution activities are ongoing in Ontario and Alberta;
• distributions were made in Québec by companies that did not file a prospectus with the AMF or obtain a receipt for a prospectus or a prospectus exemption;
• investors purchased corporate debt that had been artificially inflated to enable them to benefit from tax refunds;
• despite numerous cease trade orders against the respondents in Alberta and Ontario, they continued to solicit Canadian investors indirectly, in particular through The Synergy Group website (www.synergygroup2000.com).

This BDRVM decision is the first reciprocal cease trade order issued since the new provisions of the Québec Securities Act came into force on May 28, 2008. Under these provisions, this type of order can be made on presentation by the AMF of orders issued by other securities tribunals or regulators in Canada or elsewhere.

Reciprocal orders expedite the administration of justice. The BDRVM may issue this type of order even though the respondent is not present where the respondent has appeared at a hearing held by another securities tribunal or regulator in respect of the same facts.

The Autorité des marchés financiers (AMF) is the regulatory and oversight body for Québec’s financial sector.

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