The Securities Commission has revoked a cease trade order (CTO) previously issued against Rockshield Acquisition Corp. (the Issuer). The CTO was initially imposed due to the Issuer’s failure to file certain continuous disclosure materials as required by securities law. The Issuer has since remedied the defaults by updating its continuous disclosure filings.
The revocation was granted following an application by the Issuer under National Policy 11-207, which deals with Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions. The decision was made by the Principal Regulator in British Columbia and was also recognized by the Decision Maker in Ontario.
The revocation is based on the test set out in the applicable securities legislation, specifically under sections 127 and 144 of the Securities Act, R.S.O. 1990, c. S.5, as amended. The outcome is that the CTO no longer applies to the Issuer as of October 26, 2023.