Order: Ontario Securities Commission v Carnie

BETWEEN:

ONTARIO SECURITIES COMMISSION

(Applicant)

- and -

MITCHELL CARNIE

(Respondent)

File No. 2025-23

Adjudicator:

Tim Moseley

February 2, 2026

ORDER

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

WHEREAS the Capital Markets Tribunal held a combined merits, sanctions and costs hearing in writing to consider whether to make findings against, and impose sanctions and costs on, Mitchell Carnie;

AND WHEREAS the Tribunal made findings against Carnie in its Reasons and Decision issued on February 2, 2026;

ON READING the materials filed by the Ontario Securities Commission, and Carnie having not filed any materials, although having been properly served;

IT IS ORDERED THAT:

1. pursuant to paragraph 7 of subsection 127(1) of the Securities Act (the Act), Carnie resign, on or before March 6, 2026, any positions he holds as director or officer of any issuer, except that he need not resign as director or officer of a company of which he is the sole shareholder, provided that:
   1. the company’s business is strictly limited to providing services related to construction, including landscaping; and
   2. the company does not raise capital by issuing securities to the public;
2. pursuant to paragraph 8 of subsection 127(1) of the Act, Carnie is prohibited from becoming or acting as a director or officer of any issuer until November 28, 2033, except that he is permitted to be a director or officer of a company of which he is the sole shareholder, provided that:
   1. the company’s business is strictly limited to providing services related to construction, including landscaping; and
   2. the company does not raise capital by issuing securities to the public;
3. pursuant to paragraph 9 of subsection 127(1) of the Act, Carnie shall pay an administrative penalty of $37,500.00; and
4. pursuant to section 127.1 of the Act, Carnie shall pay costs of the investigation and hearing in the amount of $10,683.75.