The Securities Commission has granted an order for MindBeacon Holdings Inc. to cease being a reporting issuer, meaning it will no longer be subject to public reporting requirements. The decision is based on several key factors:
1. The company is not an OTC reporting issuer under Multilateral Instrument 51-105.
2. The company’s securities are held 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 reported.
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 default of any securities legislation in any jurisdiction.
The order is supported by the relevant legislative provisions, specifically section 1(10)(a)(ii) of the Securities Act, R.S.O. 1990, c. S.5, as amended. The Ontario Securities Commission, acting as the principal regulator, has determined that the company meets the criteria for the requested order under the applicable securities legislation.