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Contact Gold Corp.

May 15, 2024 | Order | 11-206, Securities Act | Issuers | https://www.osc.ca/en/securities-law/orders-rulings-decisions/contact-gold-corp-0

Securities Act, R.S.O. 1990, c. S.5, as am., ss. 1(10)(a)(ii).


**Summary of Decision:**

The Securities Commission granted Contact Gold Corp.’s application to cease being a reporting issuer in all Canadian jurisdictions. This decision follows an arrangement where Orla Mining Ltd. acquired all of Contact Gold’s common shares, making Contact Gold a wholly-owned subsidiary of Orla. Despite having convertible securities owned by more than 15 persons in Canada, Contact Gold is not required to provide continuous disclosure to these holders. The company is not in default of securities legislation, except for not filing certain continuous disclosure documents. The decision is based on National Policy 11-206 and section 88 of the Securities Act.

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