Mutual Reliance Review System for Exemptive Relief Applications - Issuer has only one security holder - issuer deemed to have ceased being 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 SECURITIES LEGISLATION OF
ALBERTA AND ONTARIO
IN THE MATTER OF
THE MUTUAL RELIANCE REVIEW SYSTEM
FOR EXEMPTIVE RELIEF APPLICATIONS
IN THE MATTER OF
MOSAIC MAPPING CORPORATION
MRRS DECISION DOCUMENT
1. WHEREAS the local securities regulatory authority or regulator (the "Decision Makers") in each of Alberta and Ontario (the "Jurisdictions") has received an application from Mosaic Mapping Corporation ("Mosaic") for a decision under the securities legislation of the Jurisdictions (the "Legislation") that Mosaic be deemed to have ceased to be a reporting issuer under the Legislation;
2. AND WHEREAS under the Mutual Reliance Review System for Exemptive Relief Applications (the "System"), the Alberta Securities Commission is the principal regulator for this application;
3. AND WHEREAS unless otherwise defined, the terms herein have the meaning set out in National Instrument 14-101 Definitions;
4. AND WHEREAS Mosaic has represented to the Decision Makers that:
4.1 Mosaic was incorporated under the Business Corporations Act (Alberta) on November 6, 2000 as Londonderrie Trail Inc. Effective September 16, 2002 it changed its name to Mosaic Mapping Corporation.
4.2 Mosaic's head office is located in Calgary, Alberta.
4.3 On May 25, 2004, pursuant to a Plan of Arrangement between Mosaic, the securityholders of Mosaic and Pulse Data Inc. ("Pulse"), Mosaic became a wholly owned subsidiary of Pulse and the shares of Mosaic were de-listed from the TSX Venture Exchange.
4.4 No securities of Mosaic are traded on a marketplace as defined in National Instrument 21-101 Marketplace Operation.
4.5 Mosaic is applying for relief to cease to be a reporting issuer in all of the Jurisdictions in which it is currently a reporting issuer.
4.6 The British Columbia Securities Commission has accepted Mosaic's "Notice of Voluntary Surrender of Reporting Issuer Status", and Mosaic is not a reporting issuer in any jurisdiction other than those which are contemplated in the current application.
4.7 Mosaic is not in default of any other obligation under the Legislation as a reporting issuer other than for failing to file its interim financial statements for the interim period ended March 31, 2004, and in connection therewith, management's discussion and analysis and the certificates under Multilateral Instrument 52-109 relating to the same.
4.8 Mosaic does not intend to seek public financing by way of an offering of its securities.
5. AND WHEREAS under the System, this MRRS Decision Document evidences the decision of each Decision Maker (collectively, the "Decision").
6. AND WHEREAS 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.
7. THE DECISION of the Decision Makers pursuant to the Legislation is that Mosaic is deemed to have ceased to be a reporting issuer under the Legislation.
August 27, 2004.
"Patricia M. Johnston"