Securities Law & Instruments


Headnote

Filer 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
GLOBAL CHAMPIONS SPLIT CORP.
(THE FILER)

ORDER
(Subsection 1(6) of the OBCA)

WHEREAS the Filer 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 Filer has represented to the Commission that:

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

2.             all of the Filer’s issued and outstanding Class A Preferred Shares, Series 1 (the Shares) were redeemed on August 20, 2018;

3.             as a result of the redemption of the Shares, the Filer’s issued and outstanding shares are owned by Partners Value Investments Inc. (10 Voting Shares), and no other shares are issued and outstanding;

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

5.             on August 8, 2018, the Commission received an application under National Policy 11-206 Process for Cease to be a Reporting Issuer Applications and ordered, pursuant to subclause 1(10) (a) (ii) of the Securities Act (Ontario) that the Filer is not a reporting issuer; and

6.             as a result of the Commission’s order, the Filer 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 Filer is deemed to have ceased to be offering its securities to the public.

DATED at Toronto on August 31, 2018.

“Philip Anisman” 
Commissioner    
Ontario Securities Commission
“Deborah Leckman”
Commissioner    
Ontario Securities Commission