AND WHEREAS the Commission is of the opinion that it is in the public interest to make this order pursuant to sections 127 and 127.1 of the Act;
IT IS HEREBY ORDERED THAT:
a) The Settlement Agreement is approved;
b) pursuant to paragraph 7 of subsection 127(1) of the Act, Bordynuik shall forthwith resign any positions that he holds as an officer and/or director of any reporting issuer, as defined in the Act;
c) pursuant to paragraph 8 of subsection 127(1) of the Act, Bordynuik is prohibited from becoming or acting as an officer and/or director of any reporting issuer, as defined in the Act, for 5 years, effective from the date of the order of the Commission approving the Settlement Agreement;
d) prior to becoming or acting as an officer and/or director of any reporting issuer, as defined in the Act, Bordynuik will successfully complete the Partners, Directors and Senior Officers Course administered by the Canadian Securities Institute and report his completion thereof to the Commission;
e) pursuant to paragraph 9 of subsection 127(1) of the Act, Bordynuik shall pay an administrative penalty in the amount of $125,000 to be designated for allocation or for use by the Commission pursuant to subsection 3.4 (2)(b) of the Act;
f) Bordynuik shall contribute $45,000 towards Staff’s investigation costs in this matter;
g) pursuant to paragraph 6 of subsection 127(1) of the Act Bordynuik is reprimanded by the Commission; and
h) the allegations against JBI, Inc. are withdrawn.
DATED at Toronto this 4th day of April, 2014.
