The Securities Commission has granted an order for Starlight Capital Corporation (formerly Stone Investment Group Limited) to cease being a reporting issuer in all Canadian jurisdictions where it held this status. The decision was based on the following key points:
1. The company is not an OTC reporting issuer under Multilateral Instrument 51-105.
2. The company’s securities are owned by fewer than 15 security holders in each Canadian jurisdiction and fewer than 51 worldwide.
3. The company’s securities are not traded on any public marketplace or facility in Canada or elsewhere.
4. The company has requested to cease being a reporting issuer in all Canadian jurisdictions where it is recognized as such.
5. The company is not in default of any securities legislation in any jurisdiction.
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), and was supported by the company’s adherence to the conditions outlined in National Policy 11-206 Process for Cease to be a Reporting Issuer Applications. The Ontario Securities Commission, acting as the principal regulator, concluded that the company met the legislative requirements to cease being a reporting issuer.