The Ontario Securities Commission (OSC) has issued an order that Manitou Gold Inc. is deemed to have ceased to be offering its securities to the public. This decision is based on the provisions of subsection 1(6) of the Business Corporations Act (OBCA), R.S.O. 1990, c. B.16, as amended.
Key facts leading to this outcome include:
1. Manitou Gold Inc. is an offering corporation under the OBCA.
2. The company has expressed that it does not plan to seek public financing through securities offerings.
3. On May 30, 2023, Manitou Gold Inc. received an order confirming it is not a reporting issuer in Ontario or any other Canadian jurisdiction, in line with National Policy 11-206 Process for Cease to be a Reporting Issuer Applications.
4. The company’s circumstances as described in the Reporting Issuer Order remain unchanged.
The OSC concluded that granting the order would not adversely affect the public interest. Consequently, the order was issued on June 8, 2023, by Lina Creta, Manager of Corporate Finance at the OSC, under file number 2023/0240.