The Securities Commission has granted an application by Spark Power Group Inc. for the company to cease being a reporting issuer in all Canadian jurisdictions where it held this status. The decision was made under the authority of the Securities Act, R.S.O. 1990, c. S.5, specifically section 1(10)(a)(ii).
The Ontario Securities Commission acted as the principal regulator, and the application was made through the established process for ceasing to be a reporting issuer. The company indicated its reliance on subsection 4C.5(1) of Multilateral Instrument 11-102 Passport System in various Canadian provinces and territories.
The decision was based on several key representations by Spark Power Group Inc.:
1. The company is not an OTC reporting issuer.
2. It has fewer than 15 security holders in each Canadian jurisdiction and fewer than 51 worldwide.
3. Its securities are not traded on any public marketplace or facility in Canada or elsewhere.
4. The company sought to cease being a reporting issuer in all Canadian jurisdictions where it was recognized as such.
5. The company is not in default of any securities legislation.
The principal regulator concluded that the application met the necessary criteria and therefore approved the order for Spark Power Group Inc. to cease being a reporting issuer.