The Securities Commission has granted an order for Logistec Corporation to cease being a reporting issuer in all Canadian jurisdictions where it was previously recognized as such. This decision is based on the application submitted by the company and is supported by several key facts:
1. Logistec Corporation is not an OTC reporting issuer.
2. The company’s securities are held by fewer than 15 security holders in each Canadian jurisdiction and less than 51 worldwide.
3. There is no public trading of the company’s securities on any marketplace or facility in Canada or elsewhere.
4. The company has requested to cease being a reporting issuer in all Canadian jurisdictions.
5. Logistec Corporation is not in default of any securities legislation.
The order is in accordance with the securities legislation of the relevant Canadian jurisdictions, including the Securities Act, R.S.O. 1990, c. S.5, as amended, specifically section 1(10)(a)(ii). The Autorité des marchés financiers acted as the principal regulator for the application, and the decision also reflects the concurrence of the securities regulatory authority in Ontario. The order is consistent with the test set out in the applicable legislation for ceasing to be a reporting issuer.