The Securities Commission has granted Steel Reef Infrastructure Corp. (the Filer) an exemption from the requirement to file issuer bid documents electronically through the System for Electronic Document Analysis and Retrieval (SEDAR), as mandated by subsection 2.2(1) of National Instrument 13-101 (NI 13-101). This decision is based on the Filer’s application and is applicable in multiple jurisdictions, including Alberta and Ontario, with Alberta Securities Commission being the principal regulator.
The Filer, a non-reporting issuer incorporated under the Business Corporations Act (Alberta), is planning an issuer bid in April 2023 across several Canadian provinces. Normally, the Filer would be obliged to file the documents electronically via SEDAR. However, since the Filer is not a reporting issuer and does not regularly file through SEDAR, they sought an exemption.
The exemption was granted on the condition that the Filer files the issuer bid documents in the specified jurisdictions as directed by the staff of the Alberta Securities Commission. The decision was made in accordance with the relevant securities legislation and the test set out in the legislation for granting such exemptions.