The Securities Commission granted an order for Battle North Gold Corporation to cease being a reporting issuer under applicable securities laws. The decision was based on the following key points:
1. Battle North Gold Corporation is not an OTC reporting issuer under Multilateral Instrument 51-105.
2. The company’s securities are owned by fewer than 15 security holders in each jurisdiction in Canada and fewer than 51 worldwide.
3. The company’s securities are not traded on any marketplace or facility where trading data is publicly reported.
4. The company has requested to cease being a reporting issuer in all Canadian jurisdictions where it currently holds that status.
5. The company is not in default of any securities legislation in any jurisdiction.
The order was made in accordance with section 1(10)(a)(ii) of the Securities Act, R.S.O. 1990, c. S.5, as amended. The Ontario Securities Commission acted as the principal regulator and utilized the Process for Cease to be a Reporting Issuer Applications, with the intention to rely on subsection 4C.5(1) of Multilateral Instrument 11-102 Passport System in various other Canadian jurisdictions. The principal regulator concluded that the company met the legislative requirements to cease being a reporting issuer.