The Securities Commission granted an order for WPT Industrial Real Estate Investment Trust (the Filer) to cease being a reporting issuer in all Canadian jurisdictions where it held this status. The decision was made under the Securities Act, R.S.O. 1990, c. S.5, as amended, specifically section 1(10)(a)(ii). The Ontario Securities Commission acted as the principal regulator, and the Filer indicated reliance on subsection 4C.5(1) of Multilateral Instrument 11-102 Passport System across Canada.
The Filer met several conditions: it was not an OTC reporting issuer, had fewer than 15 securityholders in any Canadian jurisdiction and fewer than 51 worldwide, had no securities traded on any public marketplace, and was not in default of any securities legislation. Based on these representations, the principal regulator concluded that the Filer satisfied the legislative requirements to cease being a reporting issuer, and thus, the requested relief was granted.