The Securities Commission has granted an order for Azarga Uranium Corp. to cease being a reporting issuer. This decision is based on the company meeting specific criteria outlined in the securities legislation. The key points leading to this outcome include:
1. Azarga Uranium Corp. is not an OTC reporting issuer under Multilateral Instrument 51-105.
2. The company’s securities are owned by fewer than 15 security holders in each jurisdiction in Canada and less than 51 worldwide.
3. Its securities are not traded on any public marketplace or facility where trading data is publicly reported.
4. The company has requested to cease being a reporting issuer in all Canadian jurisdictions where it currently holds this status.
5. The company is not in default of any securities legislation in any jurisdiction.
The decision was made under the authority of the Securities Act, R.S.O. 1990, c. S.5, as amended, specifically section 1(10)(a)(ii). The British Columbia Securities Commission served as the principal regulator for the application, and the order also reflects the decision of the securities regulatory authority in Ontario. The legal framework for the application process includes National Policy 11-206, Multilateral Instrument 11-102 Passport System, and National Instrument 14-101 Definitions. The outcome allows Azarga Uranium Corp. to cease its obligations as a reporting issuer under Canadian securities law.