Mutual Reliance Review System for Exemptive Relief Applications - Following takeover,acquiror holding all outstanding securities of issuer - issuer deemed to have ceased tobe a reporting issuer.
Applicable Ontario Statutory Provisions
Securities Act, R.S.O. 1990, c.S.5, as am. s. 83
IN THE MATTER OF
THE MUTUAL RELIANCE REVIEW SYSTEM FOR EXEMPTIVE RELIEF APPLICATIONS
IN THE MATTER OF
CANADA BROKERLINK INC.
MRRS DECISION DOCUMENT
WHEREAS the local securities regulatory authority or regulator (the "DecisionMaker") in each of the provinces of British Columbia, Alberta, Saskatchewan, Ontario andQuébec, (the "Jurisdictions") has received an application from Canada Brokerlink Inc. (the"Filer") for a decision under the securities legislation of the Jurisdictions (the "Legislation")that the Filer be deemed to have ceased to be a reporting issuer under the Legislation;
AND WHEREAS under the Mutual Reliance Review System for Exemptive ReliefApplications (the "System"), the Ontario Securities Commission is the principal regulatorfor this application;
AND WHEREAS the Filer has represented to the Decision Makers that:
1. The Filer is a corporation existing under the Alberta Business Corporations Act withits head office located in the Province of Ontario and is a reporting issuer under theLegislation.
2. The authorized capital of the Filer consists of an unlimited number of commonshares ("CBI Shares") of which 35,484,134 CBI Shares are outstanding as of thedate hereof.
3. The Filer is not in default of any requirements of the Legislation.
4. On February 28, 2000, 866295 Alberta Ltd. (the "Offeror") made an offer (the"Offer") to purchase all of the CBI Shares. On March 21, 2000, the Offeror acquiredapproximately 93% of such shares.
5. Pursuant to the Offer and the subsequent acquisition of CBI Shares in accordancewith the compulsory acquisition provisions of the Alberta Business Corporations Act,the Offeror acquired all of the remaining CBI Shares on April 14, 2000.
6. The CBI Shares were delisted from the Toronto Stock Exchange prior to the openof trading on March 27, 2000 and are not currently listed or quoted on any stockexchange or market.
7. Other than the outstanding CBI Shares, no other securities of the Filer areoutstanding and it is not intended that the Filer will seek public financing by way ofthe issuance of securities.
AND WHEREAS under the System, this MRRS Decision Document evidences thedecision of each Decision Maker (collectively the "Decision");
AND WHEREAS each of the Decision Makers is satisfied that the test contained inthe Legislation that provides the Decision Maker with the jurisdiction to make the Decisionhas been met;
The Decision of the Decision Makers under the Legislation is that the Filer isdeemed to have ceased to be a reporting issuer under the Legislation.
April 28th, 2000.