The Securities Commission has granted Freshii Inc.’s application to cease being a reporting issuer, meaning it will no longer be subject to public reporting requirements in Canada. The decision was based on several key findings:
1. Freshii Inc. is not an OTC reporting issuer as per Multilateral Instrument 51-105.
2. Its securities are held by fewer than 15 security holders in each Canadian jurisdiction and less than 51 holders globally.
3. Its securities are not traded on any public marketplace or facility where trading data is reported.
4. Freshii Inc. has requested to cease being a reporting issuer in all Canadian jurisdictions where it currently has this status.
5. The company is not in violation of any securities legislation in any jurisdiction.
The Ontario Securities Commission, acting as the principal regulator, determined that Freshii Inc. met the necessary criteria outlined in the applicable securities legislation, specifically section 1(10)(a)(ii) of the Securities Act, R.S.O. 1990, c. S.5, as amended. The order was made in accordance with National Policy 11-206 Process for Cease to be a Reporting Issuer Applications and supported by the Multilateral Instrument 11-102 Passport System.