The Securities Commission granted Mediavalet Inc.’s application to cease being a reporting issuer in all Canadian jurisdictions. The decision was based on several key facts: Mediavalet’s securities are owned by fewer than 15 securityholders in each Canadian jurisdiction and fewer than 51 worldwide, none of its securities are traded on any marketplace, and it is not in default of any securities legislation. The application relied on Multilateral Instrument 11-102 Passport System and National Policy 11-206 Process for Cease to be a Reporting Issuer Applications. The relevant legislative provisions include section 88 of the Securities Act, R.S.B.C. 1996, c. 418, and section 1(10)(a)(ii) of the Securities Act, R.S.O. 1990, c. S.5, as amended. The order was issued by the British Columbia Securities Commission, with Ontario concurring.
