The Securities Commission has granted an order for Taiga Gold Corp. (the Filer) to cease being a reporting issuer under the applicable securities laws. The Filer, incorporated under the Business Corporations Act (Alberta), is headquartered in British Columbia and was a reporting issuer in British Columbia, Alberta, Saskatchewan, and Ontario. Following the acquisition of all its common shares by SGO Mining Inc. through a plan of arrangement, and the delisting of these shares from the Canadian Securities Exchange, the Filer sought to cease its reporting issuer status.
The Filer met several conditions: it had fewer than 15 security holders in each jurisdiction in Canada and fewer than 51 worldwide, its securities were not traded on any public marketplace, and it had no intention of seeking public financing in Canada. Although the Filer was in default for not filing its interim financial statements and related management’s discussion and analysis for the period ended March 31, 2022, it was still granted the order to cease being a reporting issuer.
The decision was made under the authority of the Securities Act, R.S.O. 1990, c. S.5, as amended, specifically section 1(10)(a)(ii). The British Columbia Securities Commission acted as the principal regulator for the application, and the order also represented the decision of the securities regulatory authority in Ontario. The Filer is no longer a reporting issuer in any Canadian jurisdiction following this order.