The Securities Commission has granted an application by an issuer for it to cease being a reporting issuer in all Canadian jurisdictions where it held that status. The decision was based on the issuer meeting specific criteria outlined in the securities legislation, including having fewer than 15 security holders in each jurisdiction within Canada and fewer than 51 worldwide, and not having its securities traded on any public marketplace. The issuer was also not in default of any securities legislation. The Ontario Securities Commission, acting as the principal regulator, determined that the issuer satisfied the conditions for ceasing to be a reporting issuer as per section 1(10)(a)(ii) of the Securities Act (R.S.O. 1990, c. S.5, as amended) and relevant national instruments.
