The Securities Commission has granted an order for Gold Standard Ventures Corp. (the issuer) to cease being a reporting issuer in Canada. The decision is based on several key factors:
1. The issuer is not an OTC reporting issuer and its securities are not traded on any marketplace.
2. The issuer’s securities are held by fewer than 15 securityholders in each Canadian jurisdiction and fewer than 51 worldwide.
3. The issuer has become a wholly-owned subsidiary following a statutory plan of arrangement and its shares have been delisted from major exchanges.
4. The issuer has no plans for public financing and is only in default for not filing interim financial statements and related documents due to the timing of the arrangement.
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 the test set out in the relevant securities legislation. The order reflects the issuer’s compliance with the conditions for ceasing to be a reporting issuer, except for the recent default, which is related to the completion of the arrangement.