The Securities Commission has granted an application by a company (the Filer) for it to cease being a reporting issuer under applicable securities laws. The decision is based on several key facts:
1. The Filer is not an OTC reporting issuer.
2. The Filer’s securities are owned by fewer than 15 security holders in each jurisdiction in Canada and fewer than 51 holders worldwide.
3. The Filer’s securities are not traded on any public marketplace or facility where trading data is reported.
4. The Filer has requested to cease being a reporting issuer in all Canadian jurisdictions where it currently has that status.
5. The Filer is not in default of any securities legislation.
The decision was made under the authority of the Securities Act (R.S.O. 1990, c. S.5, as amended), specifically section 1(10)(a)(ii), and is supported by the Filer’s compliance with the relevant securities legislation. The Ontario Securities Commission, acting as the principal regulator, determined that the Filer met the legislative requirements to cease being a reporting issuer.