The Securities Commission has granted an application by a filer for it to cease being a reporting issuer in all Canadian jurisdictions where it held this status. The decision was based on several key factors:
1. The filer is not an OTC reporting issuer under specific regulations.
2. Its securities are owned by fewer than 15 security holders in each Canadian jurisdiction and less than 51 worldwide.
3. Its 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 default of any securities legislation.
The decision was made in accordance with the relevant securities legislation, including the Securities Act, CQLR, c. V-1.1, s. 69, and was supported by the fact that the filer met the criteria outlined in the legislation for ceasing to be a reporting issuer. The order was issued following the regulatory framework provided by Policy Statement 11-206, Regulation 11-102 respecting Passport System, and other applicable definitions and regulations. The principal regulator in this case was the Autorité des marchés financiers, and the order also represents the decision of the securities regulatory authority in Ontario.