OSC extends temporary orders against Portus

Date: Monday, May 16, 2005
Author: Hearing adjourned until September 16

The Ontario Securities Commission today continued the temporary orders against Portus Alternative Asset Management Inc. and Boaz Manor, president of Portus, until September 16.

They were issued on February 2 and 10, 2005. The OSC says the protections put in place by the temporary orders will remain in effect while it continues to investigate this matter.

The orders prevent Protus from trading in any securities, redeeming funds for its clients, accepting new money from clients or setting up new accounts. Manor has also been ordered to refrain from trading notes held by the company