Order: In the Matter of Miner Edge Inc. et al.

Order

Wendy Berman, Vice-Chair and Chair of the Panel

 File No. 2019-44

    December 22, 2021

ORDER

(Subsection 127(1) and Section 127.1 of the
Securities Act, RSO 1990, c S.5)

WHEREAS on October 18 and November 15, 2021, the Ontario Securities Commission held a combined merits and sanctions hearing to consider whether to make findings against, and impose sanctions on, Miner Edge Inc., Miner Edge Corp. and Rakesh Handa (collectively, the Respondents) pursuant to subsection 127(1) and section 127.1 of the Securities Act, RSO 1990, c S.5 (the Act);

AND WHEREAS the Commission made findings against the Respondents in its Reasons and Decision issued on December 22, 2021;

ON READING the materials filed by Staff of the Commission and by the Respondents, and on hearing the submissions of the representatives for Staff and for the Respondents;

 

IT IS ORDERED THAT:

  1. pursuant to paragraphs 2 and 2.1 of subsection 127(1) of the Act:
    1. trading in any securities or derivatives by the Respondents shall cease permanently; and
    2. the acquisition of any securities by the Respondents shall cease permanently;
  2. pursuant to paragraph 3 of subsection 127(1) of the Act, any exemptions contained in Ontario securities law do not apply to the Respondents permanently;
  3. pursuant to paragraphs 7 and 8.1 of subsection 127(1) of the Act, Handa shall resign any positions that he holds as a director or officer of an issuer or registrant;
  4. pursuant to paragraphs 8 and 8.2 of subsection 127(1) of the Act, Handa is prohibited permanently from acting as a director or officer of an issuer or registrant;
  5. pursuant to paragraph 8.5 of subsection 127(1) of the Act, the Respondents are prohibited permanently from becoming or acting as a registrant or as a promoter;
  6. pursuant to paragraph 9 of subsection 127(1) of the Act, the Respondents, jointly and severally, shall pay an administrative penalty in the amount of $500,000, which amount shall be designated for allocation or use by the Commission in accordance with subclause 3.4(2)(b) of the Act;
  7. pursuant to paragraph 10 of subsection 127(1) of the Act, the Respondents, jointly and severally, shall disgorge to the Commission $170,600, which amount shall be designated for allocation or use by the Commission in accordance with subclause 3.4(2)(b) of the Act; and
  8. pursuant to section 127.1 of the Act, the Respondents, jointly and severally, shall pay $100,000 for the costs of the investigation and hearing.

 

 

" Wendy Berman "
Wendy Berman