Securities Law & Instruments


Headnote

Application for an order that the issuer is not a reporting issuer under applicable securities laws – requested relief granted.

Applicable Legislative Provisions

Securities Act, R.S.O. 1990, c. S.5, as am., s. 1(10)(a)(ii).

August 15, 2017

ViXS Systems Inc.
1210 Sheppard Ave. E., Suite 800
Toronto (Ontario)
M2K 1E3

Dear Sirs/Mesdames:

Re:         ViXS Systems Inc. (the “Applicant”) – appli-cation for an order under subclause 1(10)(a)(ii) of the Securities Act (Ontario) (the “Act”) that the Applicant is not a reporting issuer.

The Applicant has applied to the Ontario Securities Commission for an order under subclause 1(10)(a)(ii) of the Act that the Applicant is not a reporting issuer.

In this order, “securityholder” means, for a security, the beneficial owner of the security.

The Applicant has represented to the Commission that:

a)            the outstanding securities of the Applicant, including debt securities, are beneficially owned, directly or indirectly, by fewer than 15 securityholders in Ontario and fewer than 51 security-holders in total worldwide;

b)            no securities of the Applicant, including debt securities, 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;

c)             the Applicant is not in default of securities legislation in any jurisdiction; and

d)            the Applicant will not be a reporting issuer in any jurisdiction of Canada immediately following the Director granting the relief requested.

The Director is satisfied that it would not be prejudicial to the public interest to grant the requested relief and orders that the Applicant is not a reporting issuer.

“Winnie Sanjoto”
Manager, Corporate Finance
Ontario Securities Commission