The Ontario Securities Commission (OSC) granted Euromax Resources Ltd. a partial revocation of a cease trade order (FFCTO) issued due to the company’s failure to file required continuous disclosure documents. Euromax sought this partial revocation to conduct a private placement to raise approximately C$1.2 million from accredited investors and insiders. The funds will be used to comply with disclosure obligations, pay outstanding fees, and for working capital. The decision was based on the company’s representations and compliance with specific conditions, including providing subscribers with copies of the FFCTO and the partial revocation order, and obtaining acknowledgments from them. This order is pursuant to Section 144 of the Securities Act, R.S.O. 1990, c. S.5, as amended, and National Policy 11-207.
