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Exxon Mobil Corporation

2024-02-14 | Decision | 51-101 | Issuers | https://www.osc.ca/en/securities-law/orders-rulings-decisions/exxon-mobil-corporation-1

National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities, s. 8.1.

CAUTION: Lexata's content was last updated in 2024 and may not reflect current securities regulatory requirements.

The Securities Commission has granted Exxon Mobil Corporation an exemption from the requirements of National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities (NI 51-101). The exemption is based on the fact that less than 10% of Exxon Mobil’s securities are beneficially owned by Canadian residents, and the company is a U.S. issuer and an SEC foreign issuer. The exemption is conditional upon Exxon Mobil complying with the oil and gas disclosure requirements of the SEC and the NYSE, issuing a news release in Canada to this effect, and filing such disclosures with the securities regulatory authority in the reporting jurisdictions. The relevant laws underpinning the outcome include National Instrument 51-101, Multilateral Instrument 11-102 Passport System, and National Instrument 71-102 Continuous Disclosure and Other Exemptions Relating to Foreign Issuers.

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