The Ontario Securities Commission (OSC) has granted Trillium Therapeutics ULC’s application to cease being a reporting issuer in all Canadian jurisdictions where it held this status. The decision was made under the relevant securities legislation, specifically section 1(10)(a)(ii) of the Securities Act, R.S.O. 1990, c. S.5, as amended.
The key points leading to this decision include:
– Trillium Therapeutics ULC is not an OTC reporting issuer under Multilateral Instrument 51-105.
– The company’s securities are owned by fewer than 15 security holders in each Canadian jurisdiction and less than 51 worldwide.
– There is no public trading of the company’s securities on any marketplace or facility in Canada or elsewhere.
– The company is not in default of any securities legislation in any jurisdiction.
The OSC, serving as the principal regulator for this application, determined that the company met the criteria to cease being a reporting issuer, as outlined in the securities legislation. The OSC utilized the National Policy 11-206 Process for Cease to be a Reporting Issuer Applications to facilitate this process. Additionally, the company indicated its intention to rely on subsection 4C.5(1) of Multilateral Instrument 11-102 Passport System in Alberta, British Columbia, Manitoba, and Nova Scotia. The order was granted based on these representations and the regulatory framework governing reporting issuers.