The Securities Commission has granted Invictus MD Strategies Corp. (the Filer) an order to cease being a reporting issuer in Canada. The Filer, headquartered in British Columbia, is a reporting issuer in multiple Canadian jurisdictions. Following a creditor arrangement and a series of corporate actions, including an amalgamation and a plan of arrangement, the number of the Filer’s shareholders was significantly reduced.
The Filer is not an OTC reporting issuer and its securities are owned by fewer than 15 securityholders in each Canadian jurisdiction and less than 51 worldwide. There is no public trading of the Filer’s securities. The Filer has resolved previous defaults related to the failure to file certain financial documents, which led to a cease trade order (FFCTO). The Filer has requested a full revocation of the FFCTO and is not in default of any securities legislation, except for the aforementioned issues.
The decision to grant the order is based on the Filer meeting the criteria set out in the applicable securities legislation, specifically under section 88 of the Securities Act (British Columbia) and section 1(10)(a)(ii) of the Securities Act (Ontario). The order indicates that the Filer has ceased to be a reporting issuer in all Canadian jurisdictions where it previously had this status.