ASC Revocation of Cease Trade Order

ALBERTA SECURITIES COMMISSION

REVOCATION ORDER
Under the Securities Act (Alberta) (the Act)

Citation: Re International Spirits and Beverage Group, Inc., 2018 ABASC 164

Date: 20181022

International Spirits and Beverage Group, Inc.

Background

1. International Spirits and Beverage Group, Inc. (the Issuer) is subject to a cease trade order (the CTO) issued by the Executive Director of the Alberta Securities Commission on 4 December 2013 Re: FIMA, Inc. 2013 ABASC 541.

2. The Issuer has applied for an order under section 214 of the Act revoking the CTO.

Interpretation

3. Terms defined in National Instrument 14-101 Definitions and Multilateral Instrument 51-105 Issuers Quoted in the U.S. Over-the-Counter Markets (MI 51 105) have the same meaning if used in this order, unless otherwise defined.

Representations

4. This order is based on the following facts represented by the Issuer:

(a) The Issuer was designated as an OTC reporting issuer on 31 July 2012.

(b) The CTO was issued due to the Issuer’s failure to file:

(i) annual audited financial statements, annual management's discussion and analysis, certification of annual filings and annual information form for the year ended 31 December 2012; and

(ii) interim unaudited financial statements, interim management's discussion and analysis, and certification of interim filings for the interim periods ended 30 September 2012, 31 March 2013, 30 June 2013 and 30 September 2013.

(c) The Issuer satisfied each of the conditions set forth in sections 4(a), (b) and (c) of MI 51-105 as of 21 August 2014 (the Exit Date).

(d) The Issuer ceased to be a reporting issuer on 5 June 2018, upon filing a Form 51-105F1 Notice – OTC Issuer Ceases to be an OTC Reporting Issuer (Form 51- 105F1).

(e) The Issuer failed to file the Form 51-105F1 until 5 June 2018 because management of the Issuer was unaware of its status as an OTC reporting issuer until shortly before that date. Had management of the Issuer been aware of its status as an OTC reporting issuer, it would have filed the Form 51-105F1 on the Exit Date or shortly thereafter.

(f) Due to the length of time that has elapsed since the Exit Date, the preparation and filing of all continuous disclosure that the Issuer is required to file under the Alberta securities laws would be impractical and of limited use to investors.

(g) The Issuer has paid all fees that it is required to pay to the Alberta Securities Commission.

(h) The Issuer has an up-to-date SEDAR profile.

Decision

5. The undersigned, considering that it would not be prejudicial to the public interest to do so, orders under subsection 214(1.1) of the Act that the CTO is revoked.

22 October 2018

"original signed by"
Timothy Robson
Manager, Legal
Corporate Finance
Alberta Securities Commission

Original