The Securities Commission has granted Optimum Ventures Ltd. (the Filer) an order to cease being a reporting issuer. The decision is based on the following key points:
1. The Filer’s securities are owned by fewer than 15 securityholders in each jurisdiction in Canada and less than 51 worldwide.
2. There is no public trading of the Filer’s securities on any marketplace in Canada or internationally.
3. The Filer is not an OTC reporting issuer and is not in default of any securities legislation.
The order is supported by the relevant securities legislation, including the Securities Act (British Columbia and Ontario) and Multilateral Instrument 11-102 Passport System. The British Columbia Securities Commission acted as the principal regulator, and the order also represents the decision of the Ontario securities regulator. The outcome allows the Filer to cease its reporting obligations in all Canadian jurisdictions where it was previously a reporting issuer.