The Securities Commission has decided to revoke the cease trade order (CTO) previously issued against Dynamic Technologies Group Inc. (the Issuer). The CTO was initially imposed due to the Issuer’s failure to file annual and interim financial statements, management’s discussion and analysis, and related certificates. The Issuer also failed to file subsequent interim financial statements and certificates after the CTO was issued.
Subsequently, the Issuer applied for and was granted a decision by securities regulatory authorities in Alberta and Ontario to no longer be considered a reporting issuer in those jurisdictions. This decision was made in accordance with the relevant securities legislation, specifically sections 127 and 144 of the Securities Act (R.S.O. 1990, c. S.5, as amended).
Given that the Issuer is no longer a reporting issuer, the Securities Commission, with the Principal Regulator being in Alberta and the Decision Maker in Ontario, has satisfied the legislative test to revoke the CTO. The revocation of the CTO is effective from the date the Issuer is deemed to no longer be a reporting issuer.