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