Mutual Reliance Review System for Exemptive Relief Applications - Decision declaringcorporation to be no longer a reporting issuer following the acquisition of all of itsoutstanding securities by another 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
RENATA RESOURCES INC.
MRRS DECISION DOCUMENT
1. WHEREAS the local securities regulatory authority or regulator (the "DecisionMaker") in each of Alberta, British Columbia, Saskatchewan, Ontario, Québec,Nova Scotia, Prince Edward Island and Newfoundland (the "Jurisdictions") hasreceived an application from Renata Resources Inc. ("Renata") for a decisionunder the securities legislation of the Jurisdictions (the "Legislation") that Renatabe deemed to have ceased to be a reporting issuer or the equivalent under theLegislation;
2. AND WHEREAS pursuant to the Mutual Reliance Review System for ExemptiveRelief Applications (the "System"), the Alberta Securities Commission is theprincipal regulator for this application;
3. AND WHEREAS Renata has represented to the Decision Makers that:
3.1 Renata was formed on May 31, 1997 by means of an amalgamation underthe Business Corporations Act (Alberta);
3.2 the authorized capital of Renata consists of an unlimited number ofcommon shares (the "Common Shares") and an unlimited number ofpreferred shares, of which 130,236,040 Common Shares are currentlyissued and outstanding;
3.3 Renata is a reporting issuer or the equivalent in each of the Jurisdictions;
3.4 Renata is not in default of any of its obligations as a reporting issuer orthe equivalent under the Legislation;
3.5 pursuant to an offer to purchase dated May 19, 2000 and a subsequentcompulsory acquisition under the provisions of the Business CorporationsAct (Alberta), Rio Alto Exploration Ltd. ("Rio Alto") became the holder ofall of the issued and outstanding Common Shares;
3.6 Rio Alto is the sole registered security holder of Renata and there are nosecurities, including debt obligations, currently issued and outstandingother than the Common Shares;
3.7 the Common Shares were delisted from The Toronto Stock Exchange onJune 21, 2000 and there are no securities of Renata listed on any stockexchange or traded over the counter in Canada or elsewhere;
3.8 Renata does not intend to seek public financing by way of an offering ofsecurities;
4. AND WHEREAS under the System, this MRRS Decision Document evidencesthe decision of each Decision Maker (collectively, the "Decision");
5. AND WHEREAS each of the Decision Makers is satisfied that the test containedin the Legislation that provides the Decision Maker with the jurisdiction to makethe Decision has been met;
6. THE DECISION of the Decision Makers under the Legislation is that Renata isdeemed to have ceased to be a reporting issuer or the equivalent under theLegislation.
August 31st, 2000.
"Patricia M. Johnston"