The Ontario Securities Commission (OSC) has approved the application of Ares Strategic Mining Inc. (the Applicant) to continue its operations under the Business Corporations Act (British Columbia) (BCBCA) from the Business Corporations Act (Ontario) (OBCA). This decision is based on the Applicant’s compliance with the OBCA, the Securities Act (Ontario), and other relevant securities legislation. The Applicant, originally incorporated under the OBCA in 2009, intends to move its corporate records to British Columbia due to the location of its head office and executives. The rights, duties, and obligations under the BCBCA are substantially similar to those under the OBCA. The Applicant’s shareholders approved the move with a 98.653% majority. The OSC has determined that this move is not prejudicial to the public interest. Relevant laws and regulations include the OBCA, the Securities Act (Ontario), and Ontario Regulation 398/21.
