Securities Law & Instruments


Headnote

Applicant deemed to have ceased to be offering its securities to the public under the OBCA.

Statutes Cited

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)

AND

IN THE MATTER OF
CANADIAN WORLD FUND LIMITED
(the Applicant)

ORDER
(Subsection 1(6) of the OBCA)

WHEREAS the Applicant has applied to the Ontario Securities Commission (the Commission) for an order pursuant to subsection 1(6) of the OBCA that it be deemed to have ceased to be offering its securities to the public;

AND WHEREAS the Applicant has represented to the Commission that:

1.             the Applicant is an “offering corporation” as defined in the OBCA;

2.             on May 2, 2018, the Applicant completed a plan of arrangement pursuant to an order of the Ontario Superior Court of Justice dated May 1, 2018, pursuant to which all of the issued and outstanding common shares of the Applicant not then held by Third Canadian General Investment Trust Limited (Third Canadian) or its associates or affiliates were purchased by Third Canadian for cash consideration of $9.25 per share (the Plan of Arrangement);

3.             as a result of the completion of the Plan of Arrangement, the Applicant’s issued and outstanding securities are owned by Third Canadian, 225490 Investment Limited, New Annan Investments Limited and Dapple Investments Limited, all of which are owned and controlled, directly or indirectly, by Jonathan A. Morgan and Vanessa L. Morgan, and no other securities are issued and outstanding;

4.             the Applicant has no intention to seek public financing by way of an offering of securities;

5.             on June 13, 2018, the Commission received an application under National Policy 11-206 Process for Cease to be a Reporting Issuer Applications and ordered, pursuant to subsection 1(10)(a)(ii) of the Securities Act (Ontario), that the Applicant is not a reporting issuer; and

6.             as a result of the Commission’s order, the Applicant is not a reporting issuer or the equivalent in any jurisdiction of Canada;

AND WHEREAS the Commission is satisfied that to do so would not be prejudicial to the public interest;

IT IS ORDERED that the Applicant is deemed to have ceased to be offering its securities to the public.

DATED at Toronto on June 29, 2018.

“Lawrence Haber” 
Commissioner
Ontario Securities Commission
“Frances Kordyback”
Commissioner
Ontario Securities Commission