The Securities Commission has granted an order for H2O Innovation Inc. to cease being a reporting issuer in all Canadian jurisdictions where it previously held this status. The decision was based on the application submitted by the company under the securities legislation of Quebec and Ontario, with the Autorité des marchés financiers acting as the principal regulator.
The company met the necessary conditions for the order, which included not being an OTC reporting issuer, having fewer than 15 security holders in each Canadian jurisdiction and fewer than 51 worldwide, and not having its securities traded on any public marketplace. Additionally, H2O Innovation Inc. was not in default of any securities legislation.
The order was made in accordance with the relevant legislative provisions, including the Securities Act of Ontario, the National Policy 11-206 Process for Cease to be a Reporting Issuer Applications, and other related regulations defining the process and terms for such applications. The outcome allows the company to cease its reporting issuer obligations in Canada.