The Securities Commission has decided to revoke the cease trade orders (CTOs) previously issued against Champignon Brands Inc. The CTOs were originally put in place because the company failed to file certain required continuous disclosure materials. Champignon Brands Inc. has since addressed these defaults by updating their continuous disclosure filings.
The decision to revoke the CTOs was made in accordance with National Policy 11-207 Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions (NP 11-207). The British Columbia Securities Commission served as the principal regulator in this matter, and the Ontario Securities Commission opted into the revocation order issued by the principal regulator.
The outcome is that the CTOs issued on October 27, 2020, by both the British Columbia and Ontario Securities Commissions have been lifted, allowing Champignon Brands Inc. to resume trading. The decision was made based on the test set out in the relevant securities legislation, which the company met by remedying its filing defaults. The revocation order was confirmed on April 22, 2021.