The Securities Commission has granted an application by Choice Consolidation Corp. for an order that it has ceased to be a reporting issuer in all Canadian jurisdictions where it held this status. The decision was made under the authority of the Securities Act (Ontario) and in accordance with National Policy 11-206 for the process of ceasing to be a reporting issuer.
The key considerations for the decision included the fact that the company’s securities are owned by fewer than 15 security holders in each jurisdiction in Canada and fewer than 51 holders worldwide. Additionally, the company’s securities are not traded on any public marketplace in Canada or internationally. The company also confirmed that it is not in default of any securities legislation in any jurisdiction.
The Ontario Securities Commission, serving as the principal regulator, determined that the company met the legislative requirements to cease being a reporting issuer, and therefore, the order was granted.