The Ontario Securities Commission (OSC) has granted Orford Mining Corporation’s application to be deemed as no longer offering its securities to the public under subsection 1(6) of the Business Corporations Act (Ontario) (OBCA). The decision was based on several key facts: Orford Mining Corporation is currently an offering corporation, has no plans to seek public financing, and was previously granted an order stating it is not a reporting issuer in Ontario or any other Canadian jurisdiction. The OSC concluded that this order would not be prejudicial to the public interest. The relevant laws underpinning this decision include subsection 1(6) of the OBCA and subclause 1(10)(a)(ii) of the Securities Act (Ontario).
