The Ontario Securities Commission (OSC) has issued an order recognizing that Smart Employee Benefits Inc. (the Applicant) has ceased to offer its securities to the public. This decision is based on subsection 1(6) of the Business Corporations Act (Ontario) (OBCA). The Applicant had previously been defined as an offering corporation under the OBCA and had expressed no intention of seeking public financing through securities offerings.
Furthermore, on March 21, 2023, the Applicant received an order confirming that it was no longer a reporting issuer in Ontario or any other Canadian jurisdiction, in line with National Policy 11-206 for ceasing to be a reporting issuer. The Applicant’s circumstances as described in the Reporting Issuer Order remain unchanged.
The OSC concluded that granting the order would not be against the public interest. Consequently, the Applicant is officially deemed to have stopped offering its securities to the public as of April 26, 2023.