In this Instrument “successor issuer” means
(a) except for an issuer which, in the case where the restructuring transaction involved a divestiture of a portion of a reporting issuer’s business, succeeded to or otherwise acquired less than substantially all of the business divested, an issuer that meets any of the following requirements:
(i) it was a reverse takeover acquiree in a completed reverse takeover;
(ii) it was formed as a result of a completed restructuring transaction;
(iii) it participated in a restructuring transaction and its existence continued following the completion of the restructuring transaction; or
(b) an issuer that issued securities to the securityholders of a second issuer that was a reporting issuer, in a reorganization that did not alter those securityholders’ proportionate interest in the second issuer or the second issuer’s proportionate interest in its assets;