The Securities Commission has decided to revoke the cease trade orders (CTOs) previously issued against Target Capital Inc. due to the company’s failure to file required continuous disclosure materials. The CTOs were imposed by both the Alberta Securities Commission (Principal Regulator) and the Ontario Securities Commission on November 5, 2020.
Target Capital Inc. has since addressed the filing defaults by updating its continuous disclosure documents and paying all necessary fees. The company also ensured its profiles on SEDAR (System for Electronic Document Analysis and Retrieval) and SEDI (System for Electronic Disclosure by Insiders) are current.
The revocation decision is supported by the Securities Act, R.S.O. 1990, c. S.5, as amended, specifically section 144, and is in line with National Policy 11-207 Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions. The Ontario Securities Commission opted into the revocation order following the lead of the Alberta Securities Commission.
The outcome is that the CTOs against Target Capital Inc. have been lifted, allowing the company to resume trading under the regulatory framework of Alberta and Ontario.