The Ontario Securities Commission (OSC) has revoked a cease trade order against Springbok Ventures Inc., previously known as Stikine Energy Corp. The original cease trade order was issued due to the company’s failure to file required continuous disclosure materials as mandated by Ontario securities law. Since then, Springbok Ventures has remedied the defaults by updating its continuous disclosure filings.
The decision was made under section 144 of the Securities Act, R.S.O. 1990, c. S.5, as amended. The company has addressed the issues by filing the necessary financial statements, management’s discussion and analysis (MD&A), and certifications as required by National Instrument 52-109. Additionally, the company has paid all outstanding fees and updated its profiles on SEDAR and SEDI.
Springbok Ventures has also provided an undertaking that it will not complete certain transactions involving businesses not located in Canada unless it files a preliminary and final prospectus with the Commission and includes the required information as per applicable securities legislation.
The company is up-to-date with its continuous disclosure obligations, except for certain outstanding filings for which it has requested the Commission not to require submission. The OSC, satisfied that revoking the cease trade order would not be prejudicial to the public interest, has ordered the revocation. The company is expected to hold an annual meeting of shareholders within three months following the revocation and will issue a news release announcing the revocation of the cease trade orders.