The Ontario Securities Commission (OSC) has issued a decision regarding Waterloo Brewing Ltd., an Ontario-based company. The company applied for an order under subsection 1(6) of the Business Corporations Act (Ontario) (OBCA) to be recognized as having ceased to offer its securities to the public.
Key points from the application include:
1. Waterloo Brewing Ltd. is an offering corporation under the OBCA.
2. The company’s head office is located in Ontario.
3. The company has stated it does not plan to seek public financing through securities offerings.
4. On April 4, 2023, the company received an order confirming it is not a reporting issuer in Ontario or any other Canadian jurisdiction, as per National Policy 11-206.
5. The facts presented in the previous order remain accurate.
The OSC, after reviewing the application and considering it would not be against the public interest, has ordered that Waterloo Brewing Ltd. is deemed to have ceased offering its securities to the public. This decision is supported by the relevant provisions of the OBCA, specifically subsection 1(6), and is dated April 13, 2023.