The Ontario Securities Commission (OSC) granted consent to Treasury Metals Inc. to transition from being governed under the Ontario Business Corporations Act (OBCA) to the British Columbia Business Corporations Act (BCBCA). This decision was made under subsection 21(b) of Ontario Regulation 398/21, which requires such a transition to be accompanied by the Commission’s consent. Treasury Metals Inc., originally incorporated in Ontario, sought this transition to facilitate a plan of arrangement with Blackwolf Copper and Gold Ltd. and for greater corporate flexibility under the BCBCA. The company’s shareholders overwhelmingly approved the transition, and no dissenting rights were exercised. The OSC determined that the transition would not be prejudicial to the public interest and consented to the continuance.
