The Securities Commission has granted an application by Alpha Lithium Corporation (the Filer) to cease being a reporting issuer in all Canadian jurisdictions where it held this status. The application was evaluated under the relevant securities legislation, including the British Columbia Securities Act, R.S.B.C. 1996, c. 418, s. 88, and the Ontario Securities Act, R.S.O. 1990, c. S.5.
The Filer met the necessary conditions for the order, which include:
– The Filer is not an OTC reporting issuer.
– The Filer’s securities are owned by fewer than 15 securityholders in any single Canadian jurisdiction and by fewer than 51 securityholders worldwide.
– The Filer’s securities are not traded on any public market in Canada or any other country.
– The Filer is not in default of any securities legislation.
The order was made under Multilateral Instrument 11-102 Passport System and National Policy 11-206 Process for Cease to be a Reporting Issuer Applications, with the British Columbia Securities Commission acting as the principal regulator and the decision also representing the judgment of the regulator in Ontario. The outcome allows the Filer to cease its reporting obligations in Canada.