Filer deemed to cease to be offering its securities to the public under the OBCA.
Business Corporations Act, R.S.O. 1990, c. B.16, as am., s. 1(6).
IN THE MATTER OF THE BUSINESS CORPORATIONS ACT (ONTARIO), R.S.O. 1990, c. B.16, AS AMENDED (the OBCA)
IN THE MATTER OF FIRST URANIUM CORPORATION (the Applicant)
ORDER (Subsection 1(6) of the OBCA)
UPON the application of the Applicant to the Ontario Securities Commission (the Commission) for an order pursuant to subsection 1(6) of the OBCA to be deemed to have ceased to be offering its securities to the public;
AND UPON the Applicant representing to the Commission that:
1. The Applicant is an "offering corporation" as defined in the OBCA, and has an authorized capital consisting of an unlimited number of units (Units). Each Unit is comprised of 77.3 Class A special shares and one class B common share.
2. The head office of the Applicant is located at 77 King Street West, Suite 400, Toronto, Ontario M5K 0A1.
3. On December 19, 2013, Algold Resources Ltd. (Algold) acquired all of the issued and outstanding securities of the Applicant by way of a plan of arrangement under the OBCA and became the sole beneficial holder of all of the Units.
4. As of the date of this decision, all of the outstanding securities of the Applicant, including debt securities, if any, which are beneficially owned, directly or indirectly, are held by the sole securityholder Algold.
5. The Units have been de-listed from the NEX board of the TSX Venture Exchange, effective as of the close of trading on December 20, 2013 and from the Johannesburg Stock Exchange as of the close of business on December 24, 2013.
6. No securities of the Applicant are traded in Canada or another country on a marketplace as defined in National Instrument 21-101 Marketplace Operation or any other facility for bringing together buyers and sellers of securities where trading data is publicly reported.
7. The Applicant is a reporting issuer, or the equivalent, in all of the jurisdictions in Canada, except for British Columbia, and is currently not in default of any of the applicable requirements under the legislation. The Applicant has applied for relief to cease to be a reporting issuer in all of the jurisdictions of Canada in which it is currently a reporting issuer (the Reporting Issuer Relief Requested).
8. The Applicant has no intention to seek public financing by way of an offering of securities.
9. Upon the grant of the Reporting Issuer Relief Requested, the Applicant will not be a reporting issuer or equivalent in any jurisdiction of Canada.
AND UPON the Commission being satisfied to do so would not be prejudicial to the public interest;
IT IS HEREBY ORDERED by the Commission pursuant to subsection 1(6) of the OBCA that the Applicant be deemed to have ceased to be offering its securities to the public for the purpose of the OBCA.
DATED January 31st , 2014.