The Ontario Securities Commission granted Canntab Therapeutics Limited a partial revocation of a cease trade order (FFCTO) issued due to the company’s failure to file required financial statements. Canntab sought this partial revocation to conduct a private placement to raise up to $100,000 from accredited investors. The funds will be used to address outstanding fees, prepare and file overdue financial documents, and for general working capital. The decision was based on Canntab’s representations and compliance with specific conditions, including informing investors about the FFCTO and obtaining their acknowledgment of the ongoing trade restrictions. The relevant legislative provisions include sections 127 and 144 of the Securities Act (Ontario) and National Policy 11-207.
