The Securities Commission granted Major Precious Metals Corp. a partial revocation of a cease trade order (FFCTO) issued due to the company’s failure to file required financial statements. The company sought this partial revocation to conduct a private placement, aiming to raise $750,000 to address its financial disclosure deficiencies and related fees. The funds will be used to prepare and file outstanding financial documents, pay overdue fees, and cover general administrative expenses. The private placement will be conducted under prospectus exemptions, targeting accredited investors and associates. The decision was based on the company’s representations and the conditions that investors be informed of the FFCTO and acknowledge that the securities will remain subject to the order until fully revoked. The relevant legislative provisions include sections 127 and 144 of the Securities Act (Ontario) and National Policy 11-207.
