Cease Trade Order
Nation Energy Inc.
Universal Potash Corp.
(each referred to separately as the Reporting Issuer)
Section 164 of the Securities Act, R.S.B.C. 1996, c. 418
¶ 1 The Reporting Issuer is an OTC reporting issuer under BC Instrument 51-509
Issuers Quoted in the U.S. Over-the-Counter Markets.
¶ 2 The Reporting Issuer has not filed:
1. comparative annual financial statements for its financial year ended March 31,
2009, as required under Part 4 of National Instrument 51-102 Continuous
Disclosure Obligations (NI 51-102) and section 5(b) of BCI 51-509,
2. interim financial statements for the interim periods ended September 30, 2008
and December 31, 2008 as required under Part 4 of NI 51-102 and section 5(b)
of BCI 51-509,
3. a Form 51-102F1 Management's Discussion and Analysis for the periods
ended September 31, 2008, December 31, 2008 and March 31, 2009 as
required under Part 5 of NI 51-102 and section 5(b) of BCI 51-509, and
4. a Form 51-102F2 Annual Information Form for the year ended March 31,
2009 as required under section 5(c) of BCI 51-509,
(the required records).
¶ 3 Under section 164(1) of the Act, the Executive Director orders that all trading in
the securities of the Reporting Issuer cease until:
1. it files the required records, completed in accordance with the Act and rules,
and
2. the Executive Director makes an order under section 164 of the Act revoking
this order as it applies to the Reporting Issuer.
¶ 4 August 21, 2009
Michael L. Moretto, CA, CPA (Illinois)
Manager
Corporate Finance
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