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Uranium Participation Corporation – s. 1(6) of the OBCA

2021-08-31 | Order | Business Corporations Act | Issuers | https://www.osc.ca/en/securities-law/orders-rulings-decisions/uranium-participation-corporation-s-16-obca

Statutes Cited: 1. Securities Act, R.S.O. 1990, c. S.5, as am. 2. Business Corporations Act (Ontario), R.S.O. 1990, c. B.16, AS AMENDED


The Ontario Securities Commission (OSC) has issued an order that Uranium Participation Corporation (the Applicant) is deemed to have ceased to be offering its securities to the public. This decision is based on subsection 1(6) of the Business Corporations Act (Ontario) (OBCA). The Applicant has represented that it is an offering corporation as defined in the OBCA, has no plans to seek public financing through securities offerings, and was previously granted an order on August 23, 2021, confirming that it is not a reporting issuer in Ontario or any other Canadian jurisdiction. The OSC determined that granting this order would not be against the public interest. The decision was made on August 31, 2021. Relevant laws include the OBCA and the Securities Act (Ontario).