The Securities Commission has granted an application by Leucrotta Exploration Inc. for the company to cease being a reporting issuer in Canada. This decision is based on several key factors:
1. Leucrotta Exploration Inc. is not an OTC reporting issuer under Multilateral Instrument 51-105.
2. The company’s securities are held by fewer than 15 security holders in each Canadian jurisdiction and fewer than 51 worldwide.
3. No securities of the company are traded on any marketplace or facility where trading data is publicly reported, in Canada or elsewhere.
4. The company has requested to cease being a reporting issuer in all Canadian jurisdictions where it currently holds this status.
5. The company is not in default of any securities legislation in any jurisdiction.
The decision, which is in accordance with the securities legislation of Alberta and Ontario, is supported by the fact that the company meets the criteria set out in the legislation for ceasing to be a reporting issuer. The Alberta Securities Commission acted as the principal regulator for this application, and the order also reflects the decision of the securities regulatory authority in Ontario. The relevant legislative provisions include the Securities Act, R.S.O. 1990, c. S.5, as amended, specifically section 1(10)(a)(ii).