Settlement Agreements related to AiT Advanced Information Technologies Corporation and Bernard Jude Ashe Revoked



    TORONTO, Sept. 17 /CNW/ - Following an application by Staff, the Ontario
Securities Commission (OSC) today issued an Order under Section 144 of the
Securities Act revoking a previous Commission Order approving settlement
agreements that had been entered into between Staff and AiT Advanced
Information Technologies Corporation (AiT) and Bernard Jude Ashe.
    "Logic and fairness dictate that these settlement agreements ought to be
revoked," said the Chair of the Commission Panel, Patrick LeSage, Q.C.
    On February 26, 2007, the Commission issued an Order approving settlement
agreements between Staff of the Commission and AiT, and Staff of the
Commission and Mr. Ashe. Following a contested hearing on the merits, the
Commission dismissed allegations against another respondent in the matter,
Deborah Weinstein on January 14, 2008. The Commission concluded at that time
that AiT did not fail to make timely disclosure of a material change and did
not contravene the Act and therefore the allegations against Ms. Weinstein
were dismissed.
    In the application, Staff submitted that identical facts formed the basis
for the contested hearing involving Ms. Weinstein and the settlement
agreements involving AiT and Mr. Ashe. If AiT did not contravene the Act, then
Mr. Ashe and Ms. Weinstein could not be a party to AiT's violation of the Act.
    The Commission Order is available on the OSC website at
www.osc.gov.on.ca.





For further information:

For further information: For Media Inquiries: Wendy Dey, Director,
Communications & Public Affairs, (416) 593-8120; Laurie Gillett, Manager,
Public Affairs, (416) 595-8913; Carolyn Shaw-Rimmington, Assistant Manager,
Public Affairs, (416) 593-2361; For Investor Inquiries: OSC Contact Centre,
(416) 593-8314, 1-877-785-1555 (Toll Free)


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