The Ontario Securities Commission (OSC) has granted consent to Volt Lithium Corp. (the Applicant) to continue from the jurisdiction of the Business Corporations Act (Ontario) (OBCA) to the Business Corporations Act (Alberta) (ABCA). This decision is based on the Applicant’s compliance with relevant legislation, absence of defaults or proceedings against it, and the substantial similarity between the rights, duties, and obligations under the OBCA and ABCA.
Key points include:
– The Applicant is an offering corporation with its common shares traded on the TSX Venture Exchange.
– The continuance to Alberta aligns with the Applicant’s lithium brine operations and the location of its executives.
– The Applicant’s management information circular detailed the proposed continuance, and shareholders overwhelmingly approved the move with 99.99% support and no dissenting votes.
– The Applicant will remain a reporting issuer in British Columbia, Alberta, and Ontario, with the Alberta Securities Commission as its principal regulator.
The OSC’s consent is mandated by subsection 21(b) of the Ontario Regulation 398/21 under the OBCA and is given upon the condition that the continuance would not be prejudicial to the public interest. The decision was made on May 19, 2023.