The Securities Commission granted an order for Revelo Resources Corp. to cease being a reporting issuer under applicable securities laws. The decision was based on the company meeting several conditions: it was not an OTC reporting issuer, had fewer than 15 security holders in each jurisdiction in Canada and less than 51 worldwide, its securities were not traded on any public marketplace, and it was not in default of any securities legislation. The order was made in accordance with the Securities Act, R.S.O. 1990, c. S.5, as amended, specifically section 1(10)(a)(ii). The British Columbia Securities Commission acted as the principal regulator, and the order also applied to Ontario through the Multilateral Instrument 11-102 Passport System.
