The Filer, People Corporation, applied for exemptive relief from the requirement to file a business acquisition report (BAR) under Part 8 of National Instrument 51-102.
The Filer had acquired Coughlin & Associates Ltd., which triggered the 40% significance test for venture issuers in effect prior to June 30, 2015.
Following a rule amendment, the threshold was increased to 100%, and the acquisition fell below this new threshold.
The Ontario Securities Commission granted the requested relief, exempting the Filer from the requirement to file a BAR.