The Ontario Securities Commission (OSC) has granted consent to ClearStream Energy Services Inc. for its application to continue from the jurisdiction of Ontario to Alberta. This decision is based on section 181 of the Business Corporations Act (Ontario) and is supported by the fact that ClearStream’s operations, head office, and principal regulator are located in Alberta. The company, which is listed on the Toronto Stock Exchange, is not in default of any obligations under Ontario’s Business Corporations Act, the Securities Act, or any other provincial or territorial securities legislation. ClearStream has also confirmed that it will remain a reporting issuer in all jurisdictions where it currently holds that status.
The company’s shareholders were informed of the proposed change through a management information circular and subsequently approved the move with a 99.96% majority at a shareholders’ meeting, with no dissenting votes. The OSC’s consent was a regulatory requirement under subsection 4(b) of the Ontario Regulation 289/00 made under the Business Corporations Act (Ontario). The OSC consented to the continuance as it deemed the move not to be prejudicial to the public interest. The decision was formalized on July 23, 2021.