The Securities Commission has granted an application by an issuer to cease being a reporting issuer in all Canadian jurisdictions where it held this status. The decision is based on the issuer meeting specific criteria outlined in the securities legislation, including having fewer than 15 security holders in each jurisdiction within Canada and fewer than 51 worldwide, no public trading of its securities, and no defaults in securities legislation. The order was made under the authority of the Securities Act, R.S.O. 1990, c. S.5, as amended, specifically section 1(10)(a)(ii). The Ontario Securities Commission acted as the principal regulator for this application, with the issuer also intending to rely on Multilateral Instrument 11-102 Passport System in British Columbia and Alberta. The outcome allows the issuer to cease its reporting obligations in Canada.
