The Securities Commission has granted an application by an issuer, Q4 Inc., to cease being a reporting issuer in all Canadian jurisdictions where it held this status. The decision is based on the following key points:
1. Q4 Inc. is not an OTC reporting issuer under Multilateral Instrument 51-105.
2. The company’s securities are held by fewer than 15 security holders in each Canadian jurisdiction and less than 51 worldwide.
3. Its securities are not traded on any public marketplace or facility in Canada or elsewhere.
4. Q4 Inc. has requested to cease being a reporting issuer in all Canadian jurisdictions where it is recognized as such.
5. The company is not in default of any securities legislation in any jurisdiction.
The decision was made in accordance with the Securities Act, R.S.O. 1990, c. S.5, as amended, specifically section 1(10)(a)(ii), and is supported by the company’s compliance with the requirements set out in National Policy 11-206 Process for Cease to be a Reporting Issuer Applications. The Ontario Securities Commission, acting as the principal regulator, is satisfied that the test for ceasing to be a reporting issuer has been met under the relevant legislation.