Headnote
National Policy 11-203 Process for Exemptive Relief Applications in Multiple Jurisdictions- issuer deemed to no longer be a reporting issuer under securities legislation.
Applicable Legislative Provisions
Securities Act, R.S.A., 2000, c.S-4, section 153
Citation: Re Hyperion Exploration Corp., 2015 ABASC 562 Date: 20150219
File No.: CMP0017520
Suite 1600 Dome Tower
333 - 7th Avenue SW
Calgary, AB T2P 2Z1
Attention: Jonathan J. Hudolin
Dear Sir:
Re: |
Hyperion Exploration Corp.(the Applicant) - Application for a decision under the securities legislation of Alberta, Saskatchewan, Manitoba, Ontario and New Brunswick (the Jurisdictions) that the Applicant is not a reporting issuer |
The Applicant has applied to the local securities regulatory authority or regulator (the Decision Maker) in each of the Jurisdictions for a decision under the securities legislation (the Legislation) of the Jurisdictions that the Applicant is not a reporting issuer.
In this decision, “securityholder” means, for a security, the beneficial owner of the security.
The Applicant has represented to the Decision Makers that:
(a) the outstanding securities of the Applicant, including debt securities, are beneficially owned, directly or indirectly, by fewer than 15 securityholders in each of the jurisdictions of Canada and fewer than 51 securityholders in total worldwide;
(b) no securities of the Applicant, including debt securities, are traded in Canada or another country on a marketplace as defined in National Instrument 21-101 Marketplace Operation or any other facility for bringing together buyers and sellers of securities where trading data is publicly reported;
(c) the Applicant is applying for a decision that it is not a reporting issuer in all of the jurisdictions of Canada in which it is currently a reporting issuer; and
(d) the Applicant is not in default of any of its obligations under the Legislation as a reporting issuer.
Each of the Decision Makers is satisfied that the test contained in the Legislation that provides the Decision Maker with the jurisdiction to make the decision has been met and orders that the Applicant is deemed to have ceased to be a reporting.
“original signed by”
Denise Weeres
Manager, Legal
Corporate Finance