The Securities Commission has granted an application by a company (the Filer) for it to cease being a reporting issuer in all Canadian jurisdictions where it held this status. The decision is based on the following key points:
1. The Filer is not a reporting issuer in the U.S. over-the-counter markets.
2. The Filer’s securities are owned by fewer than 15 security holders in each Canadian jurisdiction and fewer than 51 worldwide.
3. The Filer’s securities are not traded on any public marketplace 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 was made under the authority of the Securities Act (Ontario) and is supported by National Policy 11-206, which outlines the process for an issuer to cease being a reporting issuer, and Multilateral Instrument 11-102, which allows for a streamlined process across multiple jurisdictions. The Ontario Securities Commission, acting as the principal regulator, determined that the Filer met the necessary criteria and therefore approved the application.