The Securities Commission has granted an application by a corporation, previously known as Amarillo Gold Corporation, for it to cease being a reporting issuer in all Canadian jurisdictions where it held this status. The decision was made under the authority of the Securities Act, R.S.O. 1990, c. S.5, specifically section 1(10)(a)(ii).
The key points leading to this decision include:
1. The corporation is not an OTC reporting issuer under Multilateral Instrument 51-105.
2. Its securities are owned by fewer than 15 security holders in each Canadian jurisdiction and fewer than 51 worldwide.
3. Its securities are not traded on any public marketplace or facility in Canada or elsewhere.
4. The corporation has requested to cease being a reporting issuer in all Canadian jurisdictions where it is recognized as such.
5. The corporation is not in default of any securities legislation in any jurisdiction.
The Ontario Securities Commission, acting as the principal regulator, determined that the corporation met the legislative requirements to cease being a reporting issuer. The decision was supported by the corporation’s compliance with relevant securities legislation and the limited number of its security holders.