The Ontario Securities Commission (OSC) has revoked a cease trade order (CTO) against Rapid Dose Therapeutics Corp. (the Issuer), initially issued due to the company’s failure to file required continuous disclosure documents on time. The relevant regulations include the Securities Act (Ontario) and National Policy 11-207 concerning Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions.
The Issuer, incorporated in Ontario and listed on the Canadian Stock Exchange (CSE), failed to submit annual and interim financial statements, management’s discussion and analysis, and certifications for specific periods in 2022. After the CTO was issued, further required documents for subsequent periods were also not filed as mandated.
Subsequently, the Issuer remedied the defaults by updating all required continuous disclosure filings, including correcting deficiencies noted by the OSC staff. The Issuer is now compliant with its disclosure obligations, has paid all necessary fees, and is not involved in any significant transactions that have not been disclosed.
The OSC’s decision to revoke the CTO is based on the Issuer meeting the conditions set out in the applicable securities legislation. The Issuer has committed to holding an annual meeting within three months of the revocation and will issue a news release announcing the revocation, to be filed concurrently on the System for Electronic Document Analysis and Retrieval (SEDAR).