The Securities Commission has granted Maverix Metals Inc. (the Filer) an order to cease being a reporting issuer in all Canadian jurisdictions where it previously held this status. The decision was based on the Filer’s application, which was reviewed by the British Columbia Securities Commission as the principal regulator, and the Ontario Securities Commission also participated in the decision-making process.
The Filer met the conditions for ceasing to be a reporting issuer as it was not an OTC reporting issuer, had fewer than 15 security holders in each Canadian jurisdiction and fewer than 51 worldwide, and its securities were not traded on any public marketplace. Additionally, the Filer was not in default of any securities legislation.
The decision was made in accordance with the Securities Act, R.S.O. 1990, c. S.5, as amended, specifically section 1(10)(a)(ii), and was supported by the relevant definitions and provisions in National Policy 11-206, Multilateral Instrument 11-102 Passport System, and National Instrument 14-101 Definitions. The outcome allows the Filer to no longer be subject to reporting obligations in Canada.