The Securities Commission has granted an application by Prairie Storm Resources Corp. for an order that it has ceased to be a reporting issuer in all Canadian jurisdictions where it held this status. The decision was made under the authority of the Securities Act, R.S.A., 2000, c.S-4, section 153, and was influenced by several key factors:
1. Prairie Storm Resources Corp. is not an OTC reporting issuer under Multilateral Instrument 51-105.
2. Its securities are owned by fewer than 15 security holders in each Canadian jurisdiction and fewer than 51 worldwide.
3. Its securities are not traded on any marketplace or facility where trading data is publicly reported.
4. The company is not in default of any securities legislation in any jurisdiction.
The Alberta Securities Commission served as the principal regulator for this application, and the order also reflects the decision of the securities regulatory authority in Ontario. The company’s application was supported by InPlay Oil Corp., which has amalgamated with Prairie Storm Resources Corp. The order confirms that the company has met the necessary criteria to cease being a reporting issuer, as outlined in the relevant securities legislation.