The Securities Commission has granted an application by a company (the Filer) for it to cease being a reporting issuer in all Canadian jurisdictions where it held this status. This decision is based on the following key points:
1. The Filer is not a reporting issuer in the U.S. over-the-counter markets.
2. The Filer’s securities are owned 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 or facility in Canada or elsewhere.
4. The Filer has requested to cease being a reporting issuer in all Canadian jurisdictions where it is currently recognized as such.
5. The Filer is not in violation of any securities legislation in any jurisdiction.
The decision was made under the authority of the Ontario Securities Act, R.S.O. 1990, c. S.5, as amended, specifically section 1(10)(a)(ii). The Ontario Securities Commission, acting as the principal regulator, determined that the Filer met the legislative requirements to cease being a reporting issuer. The outcome is that the Filer is no longer subject to the reporting obligations that apply to public companies in Canada.