The Securities Commission has approved an application by a company (the Filer) for an order declaring that it has ceased to be a reporting issuer in all Canadian jurisdictions where it previously held this status. The decision is based on several key representations made by the Filer:
1. The Filer is not classified as an OTC reporting issuer.
2. The Filer’s securities are held by fewer than 15 security holders in each Canadian jurisdiction and fewer 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 recognized as such.
5. The Filer is not in violation of any securities legislation in any jurisdiction.
The decision is grounded in the securities legislation of Ontario, specifically section 1(10)(a)(ii) of the Securities Act, R.S.O. 1990, c. S.5, as amended, and is informed by 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 granted the requested order.