The Ontario Securities Commission (OSC) has issued an order stating that a corporation, which is an offering corporation with its head office in Ontario, is deemed to have ceased offering its securities to the public. This decision is based on the corporation’s application and representations that it has no plans for public financing through securities offerings and that it is not a reporting issuer in Ontario or any other Canadian jurisdiction, as per a previous order. The order was made under subsection 1(6) of the Business Corporations Act (Ontario), which allows the OSC to make such a determination if it is not prejudicial to the public interest. The outcome ensures that the corporation is no longer subject to the public offering requirements of the Act.
