The Securities Commission has granted an application by Nova Royalty Corp. (the “Filer”) to cease being a reporting issuer in all Canadian jurisdictions where it held this status. The decision was based on the criteria that the Filer’s securities are owned by less than 15 securityholders in each Canadian jurisdiction and fewer than 51 securityholders worldwide, the securities are not traded on any exchange or market, and the Filer is not in violation of any securities legislation.
The application was processed under the Multilateral Instrument 11-102 Passport System and National Policy 11-206 Process for Cease to be a Reporting Issuer Applications. The British Columbia Securities Commission served as the principal regulator and the order also represents the decision of the regulator in Ontario.
The legal framework for this decision includes the Securities Act of British Columbia (R.S.B.C. 1996, c. 418, s. 88) and the Securities Act of Ontario (R.S.O. 1990, c. S.5, as amended, s. 1(10)(a)(ii)). The order confirms that the Filer has met the necessary conditions to cease being a reporting issuer, thereby relieving it of the reporting obligations associated with this status.