The Ontario Securities Commission (OSC) has granted consent to Getchell Gold Corp., an offering corporation under the Business Corporations Act (Ontario) (OBCA), to continue as a corporation under the Business Corporations Act (British Columbia) (BCBCA). This decision is based on the application and representations made by Getchell Gold Corp., which included their compliance with existing regulations, shareholder approval of the continuance, and the absence of any ongoing proceedings or defaults under the relevant legislation.
Key points from the application include:
– Getchell Gold Corp. is an amalgamated corporation with its registered office in Toronto, Ontario, and its common shares are traded on the Canadian Securities Exchange.
– The company intends to apply for authorization to continue under the BCBCA as per section 181 of the OBCA.
– The company is a reporting issuer in Ontario, British Columbia, and Quebec and will remain so after the continuance.
– There are no defaults or proceedings under the OBCA or any securities legislation that the company is subject to.
– Shareholders were informed about the proposed continuance and its implications, and they approved the move with a significant majority, with no dissenting shareholders exercising their rights under section 185 of the OBCA.
– The company’s head office will be relocated to British Columbia, and it will seek to make the British Columbia Securities Commission its principal regulator.
The OSC consented to the continuance after determining that it would not be prejudicial to the public interest. The decision was made in accordance with section 181 of the OBCA and subsection 4(b) of the Regulation made under the OBCA, which requires the Commission’s consent for a corporation to continue in another jurisdiction. The outcome allows Getchell Gold Corp. to proceed with its re-domiciliation to British Columbia.