The Securities Commission has granted Neovasc Inc.’s application to cease being a reporting issuer. The decision is based on the company’s representation that it is not an OTC reporting issuer, its securities are owned by fewer than 15 security holders in each jurisdiction in Canada and fewer than 51 worldwide, its securities are not traded on any public marketplace, and it is not in default of any securities legislation. The British Columbia Securities Commission is the principal regulator for this application, and the order reflects the decision of the securities regulatory authority in Ontario as well. The outcome is supported by the Securities Act, R.S.O. 1990, c.S.5, as amended, specifically section 1(10)(a)(ii).
