The Securities Commission has granted an application for an issuer, previously known as Lakeview Hotel Investment Corp. (LHIC), to cease being a reporting issuer. The decision is based on the following key points:
1. The issuer is not an OTC reporting issuer under Multilateral Instrument 51-105.
2. The issuer’s securities are held by fewer than 15 security holders in each jurisdiction in Canada and less than 51 worldwide.
3. The issuer’s securities are not traded on any public marketplace or facility where trading data is reported.
4. The issuer has requested to cease being a reporting issuer in all Canadian jurisdictions where it currently has that status.
5. The issuer is not in default of any securities legislation in any jurisdiction.
The decision was made in accordance with the Securities Act, R.S.O. 1990, c. S.5, as amended, specifically section 1(10)(a)(ii). The Manitoba Securities Commission acted as the principal regulator for the application, and the order also reflects the decision of the securities regulatory authority in Ontario. The outcome is that the issuer has successfully ceased to be a reporting issuer under the relevant securities legislation.