The Ontario Securities Commission (OSC) has revoked a failure-to-file cease trade order (FFCTO) against Greenbank Capital Inc. The FFCTO was initially issued on December 4, 2023, due to Greenbank’s failure to file required continuous disclosure documents, including annual audited financial statements, management’s discussion and analysis (MD&A), and certifications for the year ended July 31, 2023. Additionally, Greenbank failed to file interim financial statements, related MD&A, and executive compensation statements for the period ended October 31, 2023.
Greenbank has since remedied these defaults by filing all outstanding documents, ensuring compliance with National Instrument 51-102 Continuous Disclosure Obligations and National Instrument 52-109 Certification of Disclosure in Issuer’s Annual and Interim Filings. The company is now up-to-date with its continuous disclosure obligations and has paid all outstanding fees. Greenbank has also committed to holding an annual meeting within three months of the FFCTO’s revocation and will issue a news release to announce the revocation.
The OSC, satisfied that Greenbank has met the necessary requirements, has granted the full revocation of the FFCTO under sections 127 and 144 of the Securities Act, R.S.O. 1990, c. S.5, as amended, and National Policy 11-207 Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions.