The Securities Commission has granted an application by a company for it to cease being a reporting issuer. The decision is based on the company meeting specific criteria: it is not an OTC reporting issuer, its securities are owned by fewer than 15 securityholders in any Canadian jurisdiction and less than 51 worldwide, its securities are not traded on any public marketplace, and it is not in default of any securities legislation. The decision is supported by the Securities Act of British Columbia and Ontario, and the Multilateral Instrument 11-102 Passport System, as well as National Policy 11-206. The outcome allows the company to stop fulfilling the reporting obligations required of public companies.
