The Securities Commission has granted an order for CAVU Energy Metals Corp. (the Filer) to cease being a reporting issuer in all Canadian jurisdictions where it currently holds this status. The decision was made under the authority of the Securities Act, R.S.B.C. 1996, c. 418, s. 88, and was influenced by the following key points:
1. The Filer is not an OTC reporting issuer, meaning it is not subject to the reporting requirements of Multilateral Instrument 51-105 for companies quoted in U.S. Over-the-Counter Markets.
2. The Filer’s securities are held by fewer than 15 securityholders in each Canadian jurisdiction and less than 51 securityholders worldwide.
3. The Filer’s securities are not traded on any public marketplace or facility in Canada or any other country where trading data is publicly reported.
4. The Filer is not in default of any securities legislation in any jurisdiction.
The British Columbia Securities Commission acted as the principal regulator for this application, and the order also represents the decision of the regulator in Ontario. The order was granted based on the test set out in the relevant legislation, confirming that the Filer met the conditions to cease being a reporting issuer.