The Securities Commission has granted an application by Cuspis Capital Ltd. for an order declaring that the company is no longer a reporting issuer under applicable securities laws. This decision is based on several key facts:
1. Cuspis Capital Ltd. is not an OTC reporting issuer.
2. The company’s securities are held by fewer than 15 security holders in each jurisdiction in Canada and fewer than 51 worldwide.
3. The company’s securities are not traded on any public marketplace or facility where trading data is reported.
4. The company has requested to cease being a reporting issuer in all Canadian jurisdictions where it currently has that status.
5. The company is not in default of any securities legislation in any jurisdiction.
The decision was made under the authority of Section 1(10)(a)(ii) of the Securities Act, R.S.O. 1990, c.S.5, as amended. The Ontario Securities Commission, acting as the principal regulator, has determined that the company meets the criteria to cease being a reporting issuer and has therefore granted the requested relief. This decision also relies on the passport application process outlined in Multilateral Instrument 11-102 Passport System, with notice given that this will be applied in Alberta, British Columbia, and Saskatchewan.