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Alturas Minerals Corp. - s.83.1(1)
Headnote
Subsection 83.1(1) - Issuer deemed to be a reporting issuer in Ontario -- Issuer already a reporting issuer in Alberta and British Columbia -- Issuer's securities listed for trading on the TSX Venture Exchange -- Continuous disclosure requirements in Alberta and British Columbia substantially the same as those in Ontario
Statutes Cited
Securities Act, R.S.O. 1990, c. S.5, as am., s. 83.1(1)
Policies Cited
Policy 12-602 -- Deeming an Issuer From Certain Other Canadian Jurisdictions to be a Reporting Issuer in Ontario
June 6, 2006
IN THE MATTER OF
THE SECURITIES ACT R.S.O. 1990,
CHAPTER S.5, AS AMENDED (THE ACT)
AND
IN THE MATTER OF
ALTURAS MINERALS CORP.
ORDER
(Section 83.1(1))
UPON the application of Alturas Minerals Corp (the Corporation) for an order pursuant to subsection 83.1(1) of the Act deeming the Corporation to be a reporting issuer for the purposes of Ontario securities law;
AND UPON considering the application and the recommendation of the staff of the Ontario Securities Commission (the Commission);
AND UPON the Corporation having represented to the Commission as follows:
1. the Corporation is a corporation continued under the Canada Business Corporations Act on April 5, 2006 with its registered and head office at 40 King Street West, Suite 2100, Toronto, Ontario M5H 3C2;
2. the Corporation's common shares (the Common Shares) have been listed and posted for trading on the TSX Venture Exchange (TSXV) since April 10, 2006 under the symbol "ALT";
3. the authorized share capital of the Corporation consists of an unlimited number of Common Shares and unlimited number of preferred shares, of which a total of 29,721,513 Common Shares are issued and outstanding as of April 28, 2006;
4. the Corporation became a reporting issuer in Alberta on December 9, 1998 and in British Columbia on November 26, 1999;
5. the Corporation is not currently a reporting issuer or the equivalent in any jurisdiction in Canada other than Alberta and British Columbia;
6. the Corporation is not on the lists of defaulting reporting issuers maintained pursuant to section 141 of the Securities Act (Alberta) and section 77 of the Securities Act (British Columbia). To the knowledge of management of the Corporation, the Corporation has not been the subject of any enforcement actions by the Alberta or British Columbia securities commissions or by the TSXV, and the Corporation is not in default of any requirement of the Act, the Securities Act (Alberta) or the Securities Act (British Columbia);
7. the continuous disclosure requirements of the Securities Act (Alberta) and the Securities Act (British Columbia) are substantially the same as the continuous disclosure requirements under the Act;
8. the materials filed by the Corporation as a reporting issuer in the Provinces of Alberta and British Columbia are available on the System for Electronic Document Analysis and Retrieval;
9. neither the Corporation nor any of its officers, directors or any controlling shareholder has:
(a) been the subject of any penalties or sanctions imposed by a court relating to Canadian securities legislation or by a Canadian securities regulatory authority;
(b) entered into a settlement agreement with a Canadian securities regulatory authority; or
(c) been subject to any other penalties or sanctions imposed by a court or regulatory body that would be likely to be considered important to a reasonable investor making an investment decision;
10. neither the Corporation, nor any of its officers, directors or any controlling shareholder is or has been subject to:
(a) any known ongoing or concluded investigations by:
(i) a Canadian securities regulatory authority, or
(ii) a court or regulatory body, other than a Canadian securities regulatory authority, that would be likely to be considered important to a reasonable investor making an investment decision; or
(b) any bankruptcy or insolvency proceedings, or other proceedings, arrangements or compromises with creditors, or the appointment of a receiver, receiver-manager or trustee, within the preceding 10 years;
11. none of the officers or directors of the Corporation or any controlling shareholder is or has been at the time of such event an officer or director of any other issuer which is or has been subject to:
(a) any cease trade or similar order, or order that denied access to any exemptions under Ontario securities law, for a period of more than 30 consecutive days, within the preceding 10 years;
(b) any bankruptcy or insolvency proceedings, or other proceedings, arrangements or compromises with creditors, or the appointment of a receiver, receiver-manager or trustee, within the preceding 10 years; and
12. the Corporation will remit all participation fees due and payable by it pursuant to Commission Rule 13-502 -- Fees by no later than two business days from the date of this Order.
AND UPON the Commission being satisfied that to do so would not be prejudicial to the public interest;
IT IS HEREBY ORDERED pursuant to subsection 83.1(1) of the Act that the Corporation be deemed to be a reporting issuer for the purposes of Ontario securities law.
"Kelly Gorman"