An Ontario court has appointed A. John Page and Associate Inc. has receiver/manager for @rgentum Management and Research Corp. and its mutual funds.

The appointment came at the request of the Ontario Securities Commission and was supported by the Autorité des marchés financiers.

The appointment authorizes the receiver to take control of all assets and to preserve any documents belonging to @rgentum and the funds.

An application is expected to be filed for recognition of the Ontario order in Quebec as soon as possible.

Two of the @rgentum funds have been out of distribution since March 2004 with the remaining funds ceasing distribution in March 2005.

The OSC says material assets of the funds are located in Ontario, as are a significant number of investors in the funds.

On Sept. 19, 2005, at the request of the AMF, the Bureau de décision et de révision en valeurs mobilières (BDRVM) issued an order preventing @rgentum and the funds from dealing with assets and securities held by a number of financial institutions. In addition, the BDRVM issued an order requiring @rgentum and its Funds to cease trading in securities.

On Sept. 21 and 28, 2005, in order to assist the AMF, the OSC issued directions freezing all funds and securities held in the accounts of @rgentum at various financial institutions. On consent, those directions were extended by the Ontario Court.

The OSC says the appointment of the receiver protects the interests of unitholders by ensuring an orderly and transparent process for the collection, preservation, interim management and distribution of assets.

http://www.newswire.ca/en/releases/archive/November2005/16/c6063.html