The Securities Commission has granted an order for Sol Cuisine Ltd. to cease being a reporting issuer, meaning the company is no longer subject to the reporting requirements of securities legislation. This decision is based on several key findings:
1. Sol Cuisine Ltd. 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 fewer than 51 worldwide.
3. Its securities are not traded on any marketplace or facility where trading data is publicly reported.
4. Sol Cuisine Ltd. 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 order is supported by the 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, has determined that the company meets the criteria to cease being a reporting issuer under the applicable securities legislation.