The Securities Commission has granted CoinSmart Financial Inc. (the Filer) an order to cease being a reporting issuer in all Canadian jurisdictions where it held this status. This decision is based on the Filer meeting specific criteria outlined in the Securities Act (Ontario) and related regulations, particularly section 1(10)(a)(ii).
The Filer represented that it is not an OTC reporting issuer, its securities are owned by fewer than 15 security holders in each Canadian jurisdiction and fewer than 51 worldwide, and its securities are not traded on any public marketplace. Additionally, the Filer is not in default of any securities legislation.
The Ontario Securities Commission, acting as the principal regulator, determined that the Filer satisfied the necessary conditions to cease being a reporting issuer, as per the legislative requirements. The outcome allows the Filer to discontinue its reporting obligations in Canada.