The Securities Commission issued a partial revocation of a cease trade order (FFCTO) against Major Precious Metals Corp. due to its failure to file required financial documents. The company sought this partial revocation to conduct a private placement to raise $750,000, which will be used to update its financial filings and cover related expenses. The decision was based on the company’s representations and the need to bring its continuous disclosure obligations up to date. The partial revocation is conditional on potential investors receiving copies of the FFCTO, the partial revocation order, and written notice that the securities will remain subject to the FFCTO until fully revoked. The relevant legislative provisions include sections 127 and 144 of the Securities Act (Ontario) and National Policy 11-207.
