Correction in Respect of Discontinued Proceedings Regarding Patrick Gouveia: Transcript of Proceedings Attached

    TORONTO, March 2 /CNW/ - On February 27, 2007, in the matter of R.v.
Gouveia before the Ontario Court of Justice, counsel for the Ontario
Securities Commission (OSC) asked Justice Shamai to dismiss the charges before
the Court.
    At the conclusion of his remarks, counsel for the OSC stated "Given the
new information that has come to our attention over the last several weeks,
and the comprehensive review that we have conducted in light of it, we have
determined that the prosecution no longer has a reasonable prospect of
conviction". As a result, the charges were dismissed by Justice Shamai.
    The OSC issued a press release later that day in respect of the dismissal
of charges. The OSC has been asked to replace the February 27, 2007 press
release with a press release containing the full text of the statement made by
OSC counsel to the Court. Counsel's statement is contained in its entirety in
the Court transcript of proceedings that is available at
    The February 27, 2007 press release has been removed from the OSC
website. The OSC is committed to transparency in respect of Court proceedings
and regrets any harm or confusion that may have resulted from its earlier
press release.

For further information:

For further information: For Media Inquiries: Wendy Dey, Director,
Communications & Public Affairs, (416) 593-8120; Carolyn Shaw-Rimmington,
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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