The Securities Commission granted Highlander Silver Corp. an exemption from the requirement to include audited financial statements for certain holding companies in its Business Acquisition Report (BAR). Highlander Silver Corp. is acquiring shares of San Luis Resource (BVI) Inc. and Silver Standard Peru (BVI) Inc., which hold interests in Reliant Ventures S.A.C., the operating company of the San Luis silver-gold project in Peru. The holding companies have no material assets, liabilities, or operations other than their interests in Reliant, and their financial statements do not exist. The BAR will instead include audited financial statements of Reliant and sufficient alternative information about the acquisition. This decision is based on National Instrument 51-102 Continuous Disclosure Obligations, sections 8.4 and 13.1, and was processed under Multilateral Instrument 11-102 Passport System and National Policy 11-203 Process for Exemptive Relief Applications in Multiple Jurisdictions.
