HeadnoteMutualReliance Review System for Exemptive Relief Applications - corporationnot issuing any securities under a prospectus deemed to have ceasedto be a reporting issuer.
ApplicableOntario Statutory Provisions
SecuritiesAct, R.S.O. 1990, c.S.5, as am. S.83
INTHE MATTER OF
OFALBERTA AND ONTARIO
INTHE MATTER OF
THEMUTUAL RELIANCE REVIEW SYSTEM
FOREXEMPTIVE RELIEF APPLICATIONS
INTHE MATTER OF WIRED MERCANTILE CAPITAL CORP.
1.WHEREAS the local securities regulatory authorityor regulator (the "Decision Maker") in Alberta and Ontario (the"Jurisdictions") has received an application from Wired MercantileCapital Corp. ("Wired") for a decision under the securitieslegislation of the Jurisdictions (the "Legislation") that Wiredbe deemed to have ceased to be a reporting issuer under theLegislation;
2.AND WHEREAS under the Mutual Reliance ReviewSystem for Exemptive Relief Applications (the "System") theAlberta Securities Commission is the principal regulator forthis application;
3.AND WHEREAS Wired has represented to the DecisionMakers that:
3.1 Wired was incorporated under the Business CorporationsAct (Canada) on January 28, 2000 and has its headoffice in Calgary, Alberta;
3.2 Wired is a reporting issuer in the Jurisdictions and becamea reporting issuer in the Jurisdictions on August 15, 2001 whenit received a receipt for a prospectus (the "Prospectus") datedAugust 14, 2001;
3.3 Wired is not in default of any of the requirements of theLegislation;
3.4 the authorized capital of Wired consists of an unlimitednumber of common shares (the "Common Shares") and an unlimitednumber of first preferred shares and second preferred sharesof which there are 6,526,000 Common Shares outstanding;
3.5 the Common Shares were conditionally accepted for listingon the Canadian Venture Exchange Inc. (the "CDNX") by letterdated August 13, 2001;
3.6 after receiving the receipt for the Prospectus, Wired wasunable to raise sufficient funds to complete its initial publicoffering and the offering was withdrawn by Wired without anyCommon Shares being issued under the Prospectus;
3.7 by letter dated November 14, 2001, Wired advised the CDNXof its decision to withdraw its listing application and no securitiesof Wired are listed or quoted on any exchange or market;
3.8 Wired has 47 security holders, all of whom became securityholders before Wired removed its private company restrictionsand before it became a reporting issuer in the Jurisdictions;and
3.9 no securities of Wired, including debt securities, are heldby members of the public;
4.AND WHEREAS under the System, this MRRS DecisionDocument evidences the decision of each Decision Maker (collectively,the "Decision");
5.AND WHEREAS each of the Decision Makers issatisfied that the test contained in the Legislation that providesthe Decision Maker with the jurisdiction to make the Decisionhas been met;
6.THE DECISION of the Decision Makers under theLegislation is that Wired is deemed to have ceased to be a reportingissuer under the Legislation.
December21, 2001"PatriciaM. Johnston"