The Securities Commission granted an application by an issuer for an order to cease being a reporting issuer under applicable securities laws. The issuer, Bluma Wellness Inc., is no longer required to file reports in Canada as it met the necessary conditions: it is not an OTC reporting issuer, has fewer than 15 security holders in any single Canadian jurisdiction and fewer than 51 worldwide, its securities are not traded on any public marketplaces, and it is not in default of any securities legislation. This decision was made in accordance with the Securities Act, R.S.O. 1990, c. S.5, as amended, specifically section 1(10)(a)(ii), and was supported by the facts presented by the issuer. The British Columbia Securities Commission acted as the principal regulator, and the order also represents the decision of the securities regulatory authority in Ontario. Relevant definitions and terms are consistent with National Instrument 14-101 Definitions and Multilateral Instrument 11-102 Passport System.
