The Ontario Securities Commission (OSC) has approved an application by Gage Growth Corp. for the company to cease being a reporting issuer in all Canadian jurisdictions where it held this status. The decision was made under the authority of the Securities Act (Ontario) and in accordance with National Policy 11-206, which outlines the process for an entity to cease being a reporting issuer.
The key points leading to this decision include:
1. Gage Growth Corp. is not an OTC reporting issuer, meaning it is not subject to certain reporting obligations in the U.S. over-the-counter markets.
2. The company’s securities are held by fewer than 15 security holders in each Canadian jurisdiction and less than 51 holders worldwide.
3. Its securities are not traded on any public marketplace in Canada or internationally.
4. The company has requested to cease being a reporting issuer in all Canadian jurisdictions where it currently has this status.
5. The company is not in violation of any securities legislation in any jurisdiction.
The OSC, as the principal regulator, determined that Gage Growth Corp. met the legislative requirements to cease being a reporting issuer and granted the order as requested.