The Securities Commission has granted an order for TORC Oil & Gas Ltd. (the Filer) to cease being a reporting issuer under applicable securities laws. The decision was based on several key factors:
1. The Filer is not an OTC reporting issuer under Multilateral Instrument 51-105.
2. The Filer’s securities are held by fewer than 15 security holders in each jurisdiction in Canada and fewer than 51 worldwide.
3. The Filer’s securities are not traded on any marketplace or facility where trading data is publicly reported.
4. The Filer has requested to cease being a reporting issuer in all Canadian jurisdictions where it currently holds this status.
5. The Filer is not in default of any securities legislation in any jurisdiction.
The decision was made in accordance with the Securities Act, R.S.O. 1990, c. S.5, as amended, specifically section 1(10)(a)(ii). The Alberta Securities Commission acted as the principal regulator, and the order also represents the decision of the securities regulatory authority in Ontario. The order meets the legislative test for ceasing to be a reporting issuer, and thus, the requested relief was granted.