The Securities Commission has granted an order for Opsens Inc. to cease being a reporting issuer. This decision is based on the application submitted by Opsens Inc. and is supported by several key facts:
1. Opsens Inc. is not an OTC reporting issuer under the relevant regulation.
2. The company’s securities are owned by fewer than 15 security holders in each jurisdiction in Canada and fewer than 51 worldwide.
3. Opsens Inc.’s securities are not traded on any public marketplace or facility in Canada or internationally where trading data is publicly reported.
4. The company has requested to cease being a reporting issuer in all Canadian jurisdictions where it currently holds this status.
5. Opsens Inc. is not in violation of any securities legislation in any jurisdiction.
The decision, which aligns with the legislative requirements, was made by the principal regulator, the Autorité des marchés financiers, and also reflects the decision of the securities regulatory authority in Ontario. The order is supported by the securities legislation of the jurisdictions, specifically the Securities Act, R.S.O. 1990, c. S.5, as amended, section 1(10)(a)(ii), and is consistent with National Policy 11-206 regarding the process for ceasing to be a reporting issuer.