The Ontario Securities Commission (OSC) has issued an order that Paycore Minerals Inc. is deemed to have ceased to be offering its securities to the public. This decision is based on subsection 1(6) of the Business Corporations Act (Ontario) (OBCA). Paycore Minerals Inc., which is an offering corporation as defined by the OBCA, has its head office in Thunder Bay, Ontario, and its registered office in Toronto, Ontario.
The company has stated that it does not plan to seek public financing through securities offerings. Previously, on May 30, 2023, Paycore Minerals Inc. was granted an order under the Securities Act (Ontario) confirming that it is not a reporting issuer in Ontario or any other Canadian jurisdiction, following the process outlined in National Policy 11-206.
The OSC, having reviewed the application and the company’s representations, and determining that granting the order would not be against the public interest, has ordered that Paycore Minerals Inc. is no longer considered to be offering its securities to the public as of June 8, 2023.