The Securities Commission has granted Buffalo Coal Corp. (the Filer) an order to cease being a reporting issuer, meaning it will no longer be subject to the reporting requirements of the securities legislation in Canadian jurisdictions where it was recognized as such. The decision was made under the authority of the Securities Act (Ontario) and in accordance with National Policy 11-206, which outlines the process for an issuer to cease being a reporting issuer.
The Ontario Securities Commission served as the principal regulator for the application, with the Filer indicating reliance on Multilateral Instrument 11-102 Passport System in several other Canadian provinces.
The decision was based on several key representations by the Filer:
1. The Filer is not an OTC reporting issuer under Multilateral Instrument 51-105.
2. The Filer’s securities are held by fewer than 15 security holders in each Canadian jurisdiction and less than 51 worldwide.
3. The Filer’s securities are not traded on any public marketplace in Canada or elsewhere.
4. The Filer has requested to cease being a reporting issuer in all Canadian jurisdictions where it currently has that status.
5. The Filer is not in default of any securities legislation in any jurisdiction.
Given these representations, the principal regulator concluded that the Filer met the legislative requirements to cease being a reporting issuer and approved the application.