The Securities Commission has granted TAAL Distributed Information Technologies Inc. (the Filer) an order to cease being a reporting issuer, meaning it will no longer be subject to public reporting requirements in Canada. This decision is based on the following key points:
1. The Filer is not an OTC reporting issuer, meaning it is not subject to certain U.S. market regulations.
2. The Filer’s securities are held by fewer than 15 security holders in each Canadian jurisdiction and less than 51 holders worldwide.
3. The Filer’s securities are not traded on any public marketplace in Canada or elsewhere.
4. The Filer has requested to cease being a reporting issuer in all Canadian jurisdictions where it currently has this status.
5. The Filer is not in violation of any securities legislation in any jurisdiction.
The decision is supported by the Securities Act, R.S.O. 1990, c. S.5, as amended, specifically section 1(10)(a)(ii), and is consistent with National Policy 11-206 Process for Cease to be a Reporting Issuer Applications. The Ontario Securities Commission, acting as the principal regulator, has determined that the Filer meets the criteria to cease being a reporting issuer and has therefore granted the requested order.