The Ontario Securities Commission (OSC) has granted consent to EarthRenew Inc., an offering corporation under the Business Corporations Act (Ontario) (OBCA), to continue as a corporation under the Business Corporations Act (Alberta) (ABCA). This decision is based on the application submitted by EarthRenew Inc. and the assessment that the continuance would not be prejudicial to the public interest.
Key points from the application include:
– EarthRenew Inc.’s common shares are traded on the Canadian Securities Exchange.
– The company has a significant presence in Alberta, with its head office and majority of assets, operations, and employees located there.
– The rights, duties, and obligations under the ABCA are substantially similar to those under the OBCA.
– EarthRenew Inc. is a reporting issuer in multiple Canadian provinces and is in compliance with all relevant securities legislation.
– The company’s shareholders overwhelmingly approved the continuance, with no dissenting votes.
The OSC’s consent is required under subsection 21(b) of the Ontario Regulation 398/21 made under the OBCA for the continuance to proceed. The decision was made on August 10, 2023, and is in accordance with the relevant laws and regulations, including the OBCA, the Securities Act (Ontario), and the regulations and rules made thereunder.