The Securities Commission has granted an order for New Oroperu Resources Inc. (the Filer) to cease being a reporting issuer in all Canadian jurisdictions where it previously held this status. The decision was made under the authority of the Securities Act, R.S.O. 1990, c. S.5, as amended, specifically section 1(10)(a)(ii).
The key points leading to this decision include:
1. The Filer is not classified as an OTC reporting issuer under Multilateral Instrument 51-105.
2. The Filer’s securities are held by fewer than 15 securityholders in each Canadian jurisdiction and less than 51 worldwide.
3. The Filer’s securities are not traded on any public marketplace in Canada or elsewhere.
4. The Filer has requested to cease being a reporting issuer in all Canadian jurisdictions where it is recognized as such.
5. The Filer is not in violation of any securities legislation in any jurisdiction.
The British Columbia Securities Commission acted as the principal regulator for this application, and the order also reflects the decision of the securities regulatory authority in Ontario. The Filer has indicated its intention to rely on subsection 4C.5(1) of Multilateral Instrument 11-102 Passport System in Alberta.
The decision was made after the Commission was satisfied that the Filer met the necessary criteria outlined in the relevant securities legislation for ceasing to be a reporting issuer.