The Securities Commission has granted Anacortes Mining Corp. (the Filer) an order to cease being a reporting issuer, based on an application under the securities legislation of British Columbia and Ontario. The decision was made in accordance with National Policy 11-206, which outlines the process for such applications.
Key facts leading to this decision include:
1. The Filer is not an OTC reporting issuer.
2. The Filer’s securities are held by fewer than 15 security holders in each Canadian jurisdiction and fewer than 51 worldwide.
3. The Filer’s securities are not traded on any public marketplace or facility where trading data is reported.
4. The Filer has requested to cease being a reporting issuer in all Canadian jurisdictions where it currently has this status.
5. The Filer is not in default of any securities legislation.
The outcome, supported by the relevant securities legislation, particularly section 1(10)(a)(ii) of the Securities Act (R.S.O. 1990, c. S.5, as amended), is that the Filer has been granted the order it sought and has ceased to be a reporting issuer. This decision was made by the British Columbia Securities Commission, which served as the principal regulator for the application, and the order also reflects the decision of the securities regulatory authority in Ontario. The Filer’s reliance on subsection 4C.5(1) of Multilateral Instrument 11-102 Passport System in Alberta was also noted in the process.